Crude Oil ($CRUDE) Commodity Forecast: Down 11.4% Today

What is Crude Oil?

Crude Oil, a key commodity in the energy sector, experienced a significant bearish movement today amidst ongoing geopolitical tensions and negotiations impacting global oil supply.

Why is Crude Oil going down?

CRUDE commodity is down 11.4% on Apr 17, 2026 15:51

• Crude Oil prices plummeted over 10% to below $84 per barrel as a country's Foreign Minister announced the reopening of a crucial waterway during a ceasefire period, signaling potential relief in global energy supply disruptions.
• The optimism around a possible peace deal, including specific terms discussed between a world leader and another nation, also contributed to the downward pressure on oil prices.
• The market reacted with growing optimism towards the potential resolution of the conflict, driving a bearish movement in Crude Oil prices as investor sentiment was influenced by the possibility of a broader peace agreement.

CRUDE Price Chart

CRUDE Technical Analysis

CRUDE News

Oil Plunges More than 10%

WTI crude futures plunged more than 10% to below $84 per barrel on Friday, hitting near five-week lows after Iran’s Foreign Minister Abbas Araghchi announced that the Strait of Hormuz is now fully open to commercial traffic during the ceasefire period. The move boosted optimism that one of the most severe global energy supply disruptions in recent history may be easing. The statement followed earlier remarks from President Donald Trump, who said Iranian concessions could pave the way for a broader peace deal. Prices extended losses after reports that the US may release $20 billion in frozen Iranian funds in exchange for enriched uranium stockpiles, with further talks expected this weekend. The market is increasingly pricing in an end to the conflict’s impact on supply, after nearly 50 days of disruption that had choked off a significant share of global oil flows.

Crude Oil Hits 5-week Low

Crude Oil decreased to 84.36 USD/Bbl, the lowest since March 2026. Over the past 4 weeks, Crude Oil WTI lost 11.26%, and in the last 12 months, it increased 35.74%.

Crude Oil WTI is down by 4%

Crude Oil WTI decreased 4% to 90.898 USD/Bbl

Oil Falls on Iran Deal Optimism

WTI crude futures slipped toward $92 per barrel on Friday, retreating after a 3.7% gain in the prior session as President Donald Trump struck an optimistic tone about the chances of a lasting US-Iran ceasefire. He said Tehran had agreed to key terms, including reopening the Strait of Hormuz, though Iran has not confirmed this. Officials suggest a full deal could take up to six months, with calls to extend the current truce. The conflict, nearing 50 days, has triggered a major supply shock, with Iranian restrictions and a US naval blockade keeping flows through Hormuz near a standstill. Trump said a deal could come soon, but left room to extend talks if needed. Meanwhile, a 10-day ceasefire between Israel and Lebanon may help ease regional tensions. Disruptions have reshaped trade flows, with US crude exports surging to near-record levels as Europe and Asia seek alternatives, pushing the US close to net-exporter status for the first time since World War Two.

Oil Falls on Iran Deal Optimism

WTI crude futures slipped toward $93 per barrel on Friday, trimming gains from the previous session after US President Donald Trump voiced optimism about a possible agreement to end the conflict with Iran. He said Tehran had accepted terms that include abandoning ambitions for a nuclear weapon, providing “free oil,” and reopening the Strait of Hormuz, though Iranian authorities have yet to confirm the claims. Trump also announced a 10-day ceasefire between Israel and Lebanon, which was confirmed by Israeli Prime Minister Benjamin Netanyahu. Meanwhile, the Strait of Hormuz remains effectively closed due to a dual blockade by the US and Iran, keeping markets on edge over further disruptions to global energy flows. Meanwhile, IMF Executive Director Fatih Birol warned that restoring a meaningful portion of disrupted oil and gas output could take up to two years.

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Crude Oil Price History

14.03.2026 - CRUDE Commodity was down 7.1%

• The bearish movement in Crude Oil prices was triggered by hopes for more US-Iran talks, indicating a potential resolution to the conflict and a possible increase in supply.
• Failed negotiations between the US and Iran, leading to a blockade on Iranian oil shipments, contributed to the downward pressure on oil prices.
• The uncertainty surrounding the Strait of Hormuz closure and the impact on global oil demand growth added to the bearish sentiment in the market.
• Despite the temporary pullback in oil prices, the market remains cautious as investors await further developments in the US-Iran talks and monitor supply dynamics in the region.

14.03.2026 - CRUDE Commodity was down 7.5%

• The bearish movement in Crude Oil prices can be attributed to the hopes for more talks between the US and Iran, suggesting a potential resolution to the ongoing conflict and a potential increase in supply.
• President Trump's announcement of a US blockade of the Strait of Hormuz after failed negotiations with Iran caused uncertainty and volatility in the market, contributing to the downward pressure on oil prices.
• The decline in OPEC+ output in March, closure of the Strait, and Saudi Arabia's restoration of full pumping capacity also impacted the market movement, offering mixed signals and creating an air of instability among investors.

14.03.2026 - CRUDE Commodity was down 5.9%

• Today, Crude Oil experienced a bearish movement due to the following reasons:
• Potential talks between the US and Iran raised hopes for a resolution, leading to a drop in oil prices as investors anticipated a possible easing of tensions in the region.
• President Trump's announcement of a US naval blockade targeting Iranian oil exports added pressure on prices, contributing to the downward trend.
• Concerns over the ongoing conflict in the Middle East and the impact on global oil demand growth, as highlighted by a notable organization, further weighed on market sentiment.
• The closure of the vital energy corridor, the Strait of Hormuz, due to the conflict, led to a significant decline in OPEC+ output, adding to supply disruption fears and influencing the bearish movement in crude oil prices.

09.03.2026 - CRUDE Commodity was up 5.5%

• The surge in oil prices above $100 per barrel was driven by doubts surrounding the ceasefire agreement between the US and Iran, as both parties accused each other of violating the terms, leading to heightened geopolitical tensions and concerns over oil supply disruptions.
• The near shutdown of the vital Strait of Hormuz, responsible for around 20% of global oil and gas flows, due to ongoing military approvals for vessel passage by Iran, further exacerbated market uncertainties and contributed to the bullish momentum in oil prices.
• President Trump's announcement of a two-week ceasefire and the potential for diplomatic resolutions, including proposals from Iran and mediation efforts by Pakistan, introduced volatility and conflicting signals to the oil market, leading to fluctuations in prices throughout the day.
• The overall market sentiment was influenced by the delicate balance between geopolitical risks, diplomatic negotiations, and the potential impact on global energy supply chains, underscoring the intricate interplay of political developments and economic factors in shaping Crude Oil's bullish trajectory.

08.03.2026 - CRUDE Commodity was down 19.1%

• Crude oil prices plummeted over 15% to below $93 per barrel as President Trump announced a two-week ceasefire with Iran, postponing his threat of strikes on Iranian civilian infrastructure. This move, aimed at reopening the Strait of Hormuz, a crucial waterway for global oil flows, led to a sharp decline in oil prices.
• The uncertainty surrounding Iran's response to the ceasefire proposal and the potential for a diplomatic resolution created volatility in the energy markets, causing traders to react by selling off their positions in crude oil.
• The drone strike on Saudi Arabia's East West pipeline added to the market jitters, further contributing to the bearish sentiment in the oil market as investors weighed the risks of supply disruptions in the region.
• The temporary relief in oil prices due to the ceasefire announcement highlights the market's sensitivity to geopolitical tensions and the significant impact of diplomatic developments on commodity prices.

13.03.2026 - CRUDE Commodity was down 6.5%

• The bearish movement in Crude Oil prices today can be attributed to the uncertainty surrounding the US-Iran talks and the potential for supply disruptions in the Middle East.
• President Trump's announcement of a US blockade of the Strait of Hormuz following the collapse of negotiations with Iran created a sense of instability in the market, leading to a drop in prices.
• Despite the ongoing geopolitical tensions, the market also reacted to reports of Saudi Arabia restoring full pumping capacity, which might have alleviated some supply concerns and contributed to the bearish movement in prices.
• The fluctuating prices of Crude Oil showcase the market's sensitivity to geopolitical developments and highlight the importance of monitoring global events for potential impacts on commodity prices.

13.03.2026 - CRUDE Commodity was down 5.4%

• The bearish movement in Crude Oil today can be attributed to the following factors:
• The collapse of talks between the US and Iran, along with President Trump's announcement of a US blockade of the Strait of Hormuz, causing uncertainty and fears of supply disruptions.
• Iran's demands for control of the strait, war reparations, and access to frozen assets adding to market concerns and pushing prices higher.
• Despite optimistic statements from President Trump and hopes for de-escalation, ongoing tensions in the Middle East, attacks on oil facilities, and the closure of the Strait of Hormuz continued to weigh on oil prices.
• Shifting geopolitical developments, ongoing negotiations, and concerns about disruptions to shipping flows influencing the overall market sentiment and contributing to the bearish movement in Crude Oil.

13.03.2026 - CRUDE Commodity was down 7.3%

• The bearish movement in Crude Oil prices today can be attributed to the uncertainty surrounding US-Iran talks and the potential for supply disruptions in the Middle East.
• President Trump's announcement of a US blockade of the Strait of Hormuz after failed negotiations with Iran heightened concerns about oil supply disruptions, leading to a drop in prices.
• Despite OPEC's efforts to stabilize output and Saudi Arabia's restoration of pumping capacity, the lingering geopolitical risks and ongoing negotiations continue to weigh on market sentiment, contributing to the bearish trend in Crude Oil prices today.

17.03.2026 - CRUDE Commodity was down 6.1%

• The drop in Crude Oil prices can be linked to the hope for a potential US-Iran deal, which might result in increased oil supply if the conflict is resolved.
• President Donald Trump's remarks on progress in negotiations and the chance of a ceasefire added to market volatility and downward pressure on oil prices.
• The fluctuating prices also show the market's responsiveness to geopolitical events, as investors closely watch developments in the Middle East and their impact on global energy flows.
• Despite the temporary price decline, disruptions in the Strait of Hormuz and uncertainty about the agreement's timeline are keeping the market wary, causing oil price fluctuations.

17.03.2026 - CRUDE Commodity was down 11.4%

• Crude Oil prices plummeted over 10% to below $84 per barrel as a country's Foreign Minister announced the reopening of a crucial waterway during a ceasefire period, signaling potential relief in global energy supply disruptions.
• The optimism around a possible peace deal, including specific terms discussed between a world leader and another nation, also contributed to the downward pressure on oil prices.
• The market reacted with growing optimism towards the potential resolution of the conflict, driving a bearish movement in Crude Oil prices as investor sentiment was influenced by the possibility of a broader peace agreement.

15.03.2026 - CRUDE Commodity was down 5.0%

• The bearish movement in Crude Oil prices today can be attributed to the fluctuating sentiments surrounding the US-Iran peace talks and the ongoing blockade in the vital oil trade route, the Strait of Hormuz.
• Potential talks between the US and Iran, coupled with hopes for a resolution to the conflict, have led to price volatility as traders assess the impact on supply disruptions and global demand.
• The uncertainty surrounding the negotiations, the naval blockade, and the potential for a gradual supply recovery due to logistical constraints have contributed to the downward pressure on Crude Oil prices.
• Additionally, the warnings from the International Energy Agency (IEA) about the potential decline in global oil demand growth this year due to the conflict have further added to the market jitters and bearish sentiment.

15.03.2026 - CRUDE Commodity was down 5.3%

• The bearish movement in Crude Oil prices today can be attributed to the ongoing uncertainty surrounding the US-Iran conflict and the blockade on oil flows through the vital Strait of Hormuz.
• Potential resumption of talks between the US and Iran, despite previous failed negotiations, have created volatility and downward pressure on oil prices as traders weigh the implications of a possible easing of tensions.
• The market sentiment is also influenced by continuous disruptions in oil supply chains, with the blockade impacting trade flows and causing concerns about global oil demand growth, as highlighted by warnings from the International Energy Agency (IEA).
• The increase in US crude inventories, as reported by the API, further added to the bearish sentiment, signaling potential oversupply concerns in the market amidst ongoing geopolitical uncertainties.