Reversing the gains from yesterday, crude oil went for a freefall on Tuesday as demand-related concerns cooled after U.S. President Donald Trump indicated a second round of talks with Iran could happen in the coming days. In addition, the International Energy Agency's report cautioning on crude oil "demand destruction" weighed on prices.
WTI Crude Oil for May month delivery was last seen trading down by $7.18 (or 7.25%) at $91.90 per barrel.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.