Oil prices slipped on Tuesday after surging more than $5 a barrel in the previous session on concerns about tight supply. Benchmark Brent crude futures declined 0.6 percent to $105.60 a barrel, while WTI crude futures were down half a percent at $98.89.
New COVID-19 cases in China jumped to almost 700 and data showed the euro zone's inflation accelerated as estimated in June to set a fresh record high, raising worries about a possible recession.
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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.