Crude oil prices moved sharply higher on Tuesday, extending gains from previous session, amid continued optimism about increased demand for fuel in the U.S. and parts of Europe during the summer.
Traders bet on hopes that relaxations in restrictions on movement in the U.S. will help lift oil demand. However, the surge in coronavirus cases in Asia, especially in India and Japan, has raised concerns energy demand from the region will drop amid the rising possibility of a shutdown.
For comments and feedback contact: editorial@rttnews.com
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.