Extending gains from yesterday's session, crude oil prices have catapulted on Friday after the U.S.-China summit ended with no announcement on the likelihood of China liaising with Iran to end the gulf war, leaving the Strait of Hormuz blockade to continue.WTI Crude Oil for June month delivery was last seen trading up by $4.18 (or 4.13%) at $105.35 per barrel.The much-awaited U.S.-Iran summit conc...
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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.