Crude oil prices have surged on Monday, extending the gains from the two previous sessions as the U.S. administration takes time to respond to Iran's new peace proposal while the uncertainty surrounding reopening of the Strait of Hormuz holds.WTI Crude Oil for June month delivery was last seen trading up by $3.27 (or 3.10%) at $108.69 per barrel.As the U.S.-Israel versus Iran war entered day numbe...
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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.