Following the sharp pullback seen in the previous session, the price of crude oil showed another substantial move to the downside during trading on Friday.
Crude for May delivery has plunged $4.95 or 7.4 percent to $62 a barrel after plummeting $4.76 or 6.6 percent to $66.95 a barrel in Thursday's session. With the extended nosedive, the price of crude oil hit its lowest level in over three years.
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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.