{"id":48807,"date":"2026-04-06T13:04:54","date_gmt":"2026-04-06T13:04:54","guid":{"rendered":"https:\/\/www.spragueenergy.com\/?p=48807"},"modified":"2026-04-06T13:04:59","modified_gmt":"2026-04-06T13:04:59","slug":"escalation-fears-ignite-surge-in-the-oil-market","status":"publish","type":"post","link":"https:\/\/www.spragueenergy.com\/fr\/escalation-fears-ignite-surge-in-the-oil-market\/","title":{"rendered":"Escalation Fears Ignite Surge in the Oil Market"},"content":{"rendered":"

Recap<\/strong>:  The oil market on Thursday surged higher as hopes for swift end to the U.S.-Israeli war on Iran faded after U.S. President Donald Trump said the U.S. would continue more aggressive strikes on Iran. President Trump\u2019s statement of military operations intensifying without offering a timeline for ending hostilities against Iran increased the market\u2019s concerns of prolonged disruptions to crude supplies from the Middle East. He said the U.S. would achieve its military objectives soon but suggested the war could escalate if Iranian leaders did not give in to Washington’s terms during negotiations, with strikes on Iran’s energy and oil infrastructure possible. In response, Iran\u2019s armed forces warned the U.S. and Israel of “more crushing, broader and more destructive” attacks. The crude market posted a low of $97.50 as the market traded sideways ahead of President Trump\u2019s address to the nation on Wednesday evening. However, the market quickly rallied higher as he failed to give a timeline on the ending the war and gave no details on any steps that could lead to the reopening of the Strait of Hormuz. The market extended its gains to $13.85 as it rallied to a high of $113.97 by mid-morning. The market later erased more than 38% of its earlier move from its low of $97.50 to its high of $113.97 and settled in a sideways trading range during the remainder of the session. The May WTI contract settled up $11.42 at $111.54 and the June Brent contract settled up $7.87 at $109.03. The product markets ended the session sharply higher, with the heating oil market settling up $7.16 cents at $4.3611 and the RB market settling up $19.66 cents at $3.288.<\/p>\n\n\n\n

Technical Analysis<\/strong>:\u00a0 The crude market, which closed for the Good Friday holiday, reopened on Sunday evening and will remain driven by the headlines seen over the long Easter weekend. The market is seen remaining well supported by the expectations that the strikes on Iran will intensify given Iran\u2019s continued defiance and the U.S. military\u2019s continued build up in the Middle East. With no end in sight to the military operation, oil supplies out of the Middle East will remain lower, with the region potentially seeing further supply shut ins. The crude market is seen finding resistance at $113.97, $119.48 and $123.68. Meanwhile, support is seen at $106.62, $105.73, $103.79, $97.50, $96.50, $95.60, $92.08, $86.46, $86.34 and $84.37.<\/p>\n\n\n\n

Fundamental News<\/strong>:\u00a0 Market experts said U.S. President Donald Trump’s address to the nation, in which he vowed more aggressive strikes on Iran, has put consumers on course for record fuel prices at the pumps just ahead of the country’s peak summer travel season. U.S. average retail gasoline prices are now set to increase to between $4.25 and $4.45\/gallon by next week after surpassing the $4\/gallon level for the first time since 2022 at the start of this week. Analysts said if there is no viable plan to reopen the Strait of Hormuz, the U.S. average price of gasoline will likely cross $5\/gallon and hit record levels within a month. Meanwhile, the national average retail diesel price is set to increase from $5.47\/gallon on Thursday to between $5.80 and over $6\/gallon within the next two weeks.<\/p>\n\n\n\n

Colonial Pipeline said it has completed repairs on Line 1, the main gasoline route from the U.S. Gulf Coast to East Coast markets, and restored service after third-party damage in Paulding County, Georgia. The pipeline was damaged by a third-party well-drilling crew on Tuesday.<\/p>\n\n\n\n

Baker Hughes reported that U.S. energy firms this week added to the number of oil and natural gas rigs operating for the first time in three weeks. The oil and gas rig count increased by five to 548 in the week ending April 2nd<\/sup>.<\/p>\n\n\n\n

Bloomberg reported that while crude surpassed the $100\/barrel level, ICE Gasoil increased to as high as $1,509.50\/ton on Thursday, the equivalent of $202.30\/barrel. It is at the highest level since 2022 and whether prices fall or keep rising largely depends on the reopening of the Strait of Hormuz. Bloomberg reported that despite increasing prices and some gas stations already running dry, traders are not directing every available cargo of fuel towards Europe. Bloomberg reported that the Iran war is creating a global scramble for diesel.<\/p>\n\n\n\n

Early<\/strong> Market Call – as of 8:05 AM EDT<\/strong><\/p>\n\n\n\n

WTI – May $110.43, down $1.63<\/strong><\/p>\n\n\n\n

RBOB – Apr $3.2717, down 82 points <\/strong><\/p>\n\n\n\n

HO – Apr $4.3959, down 3.56 cents<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

Recap:  The oil market on Thursday surged higher as hopes for swift end to the U.S.-Israeli war on Iran faded after U.S. President Donald Trump said the U.S. would continue […]<\/p>\n","protected":false},"author":3,"featured_media":47406,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","footnotes":""},"categories":[21,23,20,1],"tags":[],"class_list":["post-48807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crude","category-gasoline","category-heating-oil","category-market-insights"],"acf":[],"yoast_head":"\nEscalation Fears Ignite Surge in the Oil Market - Sprague Energy<\/title>\n<meta name=\"description\" content=\"Explore the oil market's recent surge amid escalating tensions involving the U.S. and Iran's military actions and crude supply concerns.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.spragueenergy.com\/fr\/escalation-fears-ignite-surge-in-the-oil-market\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Escalation Fears Ignite Surge in the Oil Market\" \/>\n<meta property=\"og:description\" content=\"Explore the oil market's recent surge amid escalating tensions involving the U.S. and Iran's military actions and crude supply concerns.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.spragueenergy.com\/fr\/escalation-fears-ignite-surge-in-the-oil-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Sprague Energy\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-06T13:04:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-06T13:04:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.spragueenergy.com\/wp-content\/uploads\/2025\/09\/7-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"250\" \/>\n\t<meta property=\"og:image:height\" content=\"250\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Emily Beckett\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u00c9crit par\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emily Beckett\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimation du temps de lecture\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.spragueenergy.com\\\/escalation-fears-ignite-surge-in-the-oil-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.spragueenergy.com\\\/escalation-fears-ignite-surge-in-the-oil-market\\\/\"},\"author\":{\"name\":\"Emily Beckett\",\"@id\":\"https:\\\/\\\/www.spragueenergy.com\\\/#\\\/schema\\\/person\\\/f16806fa4af9f2c44e5e1b0a75e5ace9\"},\"headline\":\"Escalation Fears Ignite Surge in the Oil Market\",\"datePublished\":\"2026-04-06T13:04:54+00:00\",\"dateModified\":\"2026-04-06T13:04:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.spragueenergy.com\\\/escalation-fears-ignite-surge-in-the-oil-market\\\/\"},\"wordCount\":725,\"image\":{\"@id\":\"https:\\\/\\\/www.spragueenergy.com\\\/escalation-fears-ignite-surge-in-the-oil-market\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.spragueenergy.com\\\/wp-content\\\/uploads\\\/2025\\\/09\\\/7-1.png\",\"articleSection\":[\"Crude\",\"Gasoline\",\"Heating Oil\",\"Market Insights\"],\"inLanguage\":\"fr-CA\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.spragueenergy.com\\\/escalation-fears-ignite-surge-in-the-oil-market\\\/\",\"url\":\"https:\\\/\\\/www.spragueenergy.com\\\/escalation-fears-ignite-surge-in-the-oil-market\\\/\",\"name\":\"Escalation Fears Ignite Surge in the Oil Market - 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