Crude oil prices tumbled Monday morning and despite recovering some lost ground later in the session, settled sharply lower due to worries about energy demand after data showed a much slower than expected pace of growth of the Chinese economy in July.
The lowering of oil demand forecast for 2022 by the Organization of the Petroleum Exporting Countries (OPEC) last week also weighed on prices.
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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.