After pulling back sharply early in the session, crude oil prices have shown a substantial move back to the upside over the course of the trading day on Friday.
With the turnaround, crude oil is extending the spike seen over the past two days as traders assess U.S. President Donald Trump's claims of Iran's surrender sometime soon in comparison to yesterday's assertion by the new leader of Iran wherein he confirmed plans to continue blocking the Strait of Hormuz.
For comments and feedback contact: editorial@rttnews.com
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.