Oil prices were sharply lower on Wednesday after U.S. President Donald Trump said the war with Iran will end "very quickly."In another development, the British government has relaxed sanctions on Russian energy imports to address rising fuel costs due to the effective blockade of the Strait of Hormuz. Earlier this week, the United States announced another 30-day extension of a sanctions waiver for...
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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.