Crude oil prices climbed higher on Wednesday, buoyed by data showing a drop in gasoline stockpiles and a weak U.S. dollar.
The dollar shed ground as weak U.S. data released overnight fueled speculation of a less hawkish Fed.
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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.