Oil prices were little changed on Thursday, after having fallen over 5 percent in the previous session amid optimism over a possible easing of Middle East tensions.Brent crude futures for July delivery were down 0.3 percent at $104.72 a barrel while WTI crude futures slipped 0.2 percent to $98.07.
Both benchmarks dropped around 5.6 percent on Wednesday to their lowest in more than a week amid expectations for a near-term restart of energy flows through the critical Strait of Hormuz.
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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.