Both Brent and WTI crude oil price benchmarks eased on Tuesday after surging heavily on Monday amidst fears of the latest flare-up in the Strait of Hormuz jeopardizing the U.S.-Iran ceasefire. Crude oil prices retreated amidst reports of a U.S.-flagged ship being escorted out of the Strait of Hormuz.
Brent Oil Futures for July settlement are currently trading at $112.43, having slipped 1.76 percent from the previous close of $114.44. The day's trading ranged between $111.89 and $114.43. The 52-week trading ranged between $58.72 and $126.41.
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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.