After the previous session's tailspin, crude oil has catapulted on Monday after the U.S. seizure of an Iranian cargo ship threatened the ongoing ceasefire, with Iran vowing to retaliate, which renewed supply-related concerns.
WTI Crude Oil for May month delivery was last seen trading up by $5.54 (or 6.61%) at $89.39 per barrel.
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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.