Crude oil has surged on Thursday as traffic via the Strait of Hormuz remains closed, keeping oil supply concerns elevated while investors await Iran's next move on the extension of the ceasefire by the U.S. in the gulf war and calls for peace talks.
WTI Crude Oil for June month delivery was last seen trading up by $2.49 (or 2.68%) at $95.45 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.