Oil prices fell sharply on Thursday on concerns about the outlook for energy demand amid rising worries about a possible recession.
Oil prices rose early on in the session as the dollar weakened but failed to hold gains, weighed down by Wednesday's data that showed an unexpected surge in crude stockpiles in the U.S. last week and the oil producer group OPEC+'s nod for a small increase in production.
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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.