Crude oil prices have skyrocketed during trading on Thursday, resuming the surge seen earlier in the week in reaction to the conflict in the Middle East.
Crude for April delivery has spiked $6.51 or 8.7 percent to $81.17 a barrel and has soared by $14.15 or 21.1 percent so far this week.
The spike in crude oil prices comes amid ongoing supply disruption worries due to the expanding conflict in the Middle East.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.