Oil prices climbed above $106 per barrel as the ongoing Iran conflict and Strait of Hormuz disruption continued to fuel inflation fears and reinforce the Federal Reserve’s higher-for-longer interest rate stance. Meanwhile, the Trump-Xi Beijing summit ended with renewed geopolitical tensions over Taiwan, weighing on Asia-Pacific equities and supporting US dollar strength. Markets are now closely monitoring global growth risks, energy supply disruptions, and evolving Fed policy expectations.
15-05-2026 02:17 GMT
by Kelvin Wong
