Oil prices rallied on Friday as Hormuz concerns persisted and U.S. President Donald Trump claimed the United States will prevail in its war with Iran, "peacefully or otherwise".Brent crude prices for July delivery jumped more than 3 percent to $109.19 a barrel as attacks on one ship and the seizure of another around the Strait of Hormuz stoked concerns about energy supplies.WTI crude futures soare...
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Market Analysis
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.