Crude oil prices have gone into freefall on Wednesday, extending yesterday's losses, as diplomatic measures to secure a U.S.-Iran agreement to end their hostilities move at a brisk pace.WTI Crude Oil for July month delivery was last seen trading down by $5.89 (or 5.66%) at $98.26 per barrel.The U.S.-Iran war entered day number 82 today, leaving the Strait of Hormuz effectively closed. A third of t...
For comments and feedback contact: editorial@rttnews.com
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.