Crude oil futures settled higher on Tuesday amid some speculation that OPEC and allies might consider another cut in production next month, and on warning from Saudi Arabia's energy minister that oil prices may not continue to decline.
Hopes about U.S. lawmakers agreeing on a debt ceiling deal soon, and data showing an unexpected rise in U.S. private sector activity contributed as well to the rise 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.