Continued inflation in the US has made the Federal Reserve System (FED) more cautious about cutting interest rates. That could keep interest rates high for longer, weighing on fuel demand. International crude oil prices fell on May 21.

West Texas Intermediate (WTI) crude for June delivery decreased by US$0.54 (0.7%), reaching US$79.26/barrel on the New York Mercantile Exchange. For July, down by US$0.64, settling at US$78.66/barrel. Brent crude for July delivery declined by US$0.83 (1%), settling at US$82.88/barrel.