After soaring over the past three sessions, crude oil has plunged on Monday as traders resort to profit-taking while the blockade of the Strait of Hormuz showed mild signs of easing.
WTI Crude Oil for April delivery was last seen trading down by $5.38 (or 5.45%) at $93.33 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.