Oil prices fell about 2 percent on Friday, retreating further from 11-month highs hit last week as a resurgence of coronavirus infections in China stoked fears about depressed demand for the commodity.
Benchmark Brent crude for March settlement dropped 1.8 percent to $55.07 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were down as much as 2.1 percent at $52.03.
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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.