Oil prices fell sharply on Friday to hit a one-month low and were on track for a sharp monthly loss as signs of easing U.S.-Iran tensions raised hopes of smoother oil flows through the Strait of Hormuz.
Brent crude futures fell below $92 a barrel and were down nearly 19 percent so far in May, marking their biggest monthly decline since 2020. WTI crude futures traded below $88 a barrel and were down more than 9 percent so far this week.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.