Crude oil prices extended recent gains and climbed higher on Wednesday, lifting the futures contract to a fresh 9-month closing high.
Oil prices continued to benefit from Russia and Saudi Arabia's decision to extend their voluntary additional production cuts till the end of the year.
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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.