Oil prices traded lower on Thursday as another round of weak U.S. economic data stoked recession fears.
Prices still headed for a weekly gain after an unexpected output cut by OPEC and its allies.
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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.