After skyrocketing yesterday, crude oil prices have continued to surge on Tuesday as the ongoing shutdown of the Strait of Hormuz kept supply disruption concerns alive. In addition, the prospect of peace talks between the U.S. and Iran remain subdued as Iran is yet to confirm its participation.
WTI Crude Oil for May month delivery was last seen trading down by $3.99 (or 4.45%) at $93.60 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.