Crude oil prices fell sharply on Thursday, triggered by the International Energy Agency's monthly report that boosted the supply estimate for 2025 and 2026, indicating a glut.
WTI Crude Oil for October delivery was last seen trading down by $1.22 (or 1.92%) at $62.45 per barrel.
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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.