Following two consecutive sessions of sharp gains, crude oil has catapulted on Wednesday as an end to the Middle East war still remains elusive, keeping the blockade on the Strait of Hormuz active.
WTI Crude Oil for June month delivery was last seen trading up by $6.79 (or 6.79%) at $106.72 per barrel. Earlier, the price briefly hit a 52-week high of $107.68 after which it receded.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.