# Latest Oil Market News and Analysis for April 17 - Bloomberg

> Brent futures fell 9.1% to settle near $90 a barrel as the reopening of the Strait of Hormuz fueled optimism that the US-Iran conflict will end. US benchmark gas prices also fell as much as 10%.

- Date: 2026-04-16 · published 2026-04-16T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/8809-latest-oil-market-news-and-analysis-for-april-17-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Reduced geopolitical risk premium lowers crude and natural gas prices. Cheaper natural gas lowers fertilizer and energy costs that feed into grain and protein prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- NATGAS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-04-20 | 5 | -16.1% | -3.2 | Brent fell 9.1% to near $90 on Hormuz reopening optimism, the key move within the window. |
| BRENT | 2026-04-17 | 1 | -15.4% | -3.7 | Bloomberg summary of the 9.1% Brent drop to near $90 on Hormuz reopening optimism; its date is slightly off but it describes the same move. |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2026-04-16/latest-oil-market-news-and-analysis-for-april-17

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.