Oil prices fell sharply on Thursday, snapping a three-day rally as Israel and Lebanon agreed to implement a ceasefire.
Brent crude futures for August delivery fell 1.5 percent to $96.30 a barrel while WTI crude futures for July delivery were down 1.2 percent at $94.83.
After a fourth round of U.S.-mediated talks, Israel and Lebanon have agreed to renew their fragile ceasefire following days of bombardment and drone strikes.
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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.