After showing a strong move to the upside early in the session, the price of crude oil once again came under pressure over the course of the trading day on Tuesday.
Crude for May delivery tumbled $1.12 or 1.9 percent to $59.58 a barrel after jumping as much as 1.7 percent to a high of $61.75 a barrel in early trading.
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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.