Crude oil prices declined sharply on Wednesday, extending losses to a fourth successive session, amid rising concerns about the outlook for energy demand due to the impact of the coronavirus outbreak on the global economy.
Data showing an increase in U.S. crude inventories last week contributed as well to oil's sharp decline today.
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Market Analysis
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.