Oil prices fell sharply on Monday, with rising U.S. rig count and weak China data weighing on markets.
Global benchmark Brent crude tumbled 1.7 percent to $60.55 a barrel while U.S. crude oil futures were down nearly 2 percent at $52.67 per barrel.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.