Oil prices climbed on Thursday as strong fuel demand data coupled with optimism over the Federal Reserve cutting interest rates later this year outweighed U.S. debt ceiling worries.
Benchmark Brent crude futures rose a little over 1 percent to $77.18 a barrel, while WTI crude futures were up nearly 1 percent at $73.27.
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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.