Oil prices are climbing back to $100 per barrel, despite efforts by 32 countries to release 400 million barrels from their strategic reserves to ensure supply in global markets. The price increase comes as three more cargo ships were attacked in the Gulf region.
In the latest incidents of Iran's retaliatory attacks on energy supplies, two foreign oil tankers were hit by an "unknown projectile" in Iraqi waters. The UK's maritime agency said a container ship was attacked in the Persian Gulf, bringing the total number of vessels attacked by Iran in the region in the last two days to six.
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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.