Despite data showing an increase in U.S. crude inventories last week, crude oil prices climbed higher on Wednesday, lifted by an upward revision in oil demand forecast by the International Energy Agency (IEA).
Supply concerns due to the shutdown of the Keystone pipeline following a massive leak of over 14,000 barrels of oil in Kansas last week also contributed to the increase in oil 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.