Oil prices traded lower on Tuesday amid increased hopes that possible fresh talks in Pakistan between the U.S. and Iran would lead to a deal.
However, the downside remained capped after the International Energy Agency (IEA) warned that the ongoing conflict has triggered the world's worst energy crisis in history.
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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.