Oil prices climbed on Monday, building on last week's rally as the continued near-shutdown of the Strait of Hormuz kept supply concerns elevated.Brent crude futures for July delivery were up nearly 1 percent at $110.34 a barrel, while WTI crude futures for July delivery surged 1.3 percent to $102.29.Amid stalled peace talks, U.S. President Donald Trump has warned Iran the "clock is ticking" and th...
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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.