Reversing gains from yesterday's session, crude oil prices have plummeted on Tuesday after U.S. attempts to unblock Strait of Hormuz traffic boosted market sentiments, easing supply concerns while escalation worries vanished after U.S. Secretary of War Pete Hegseth confirmed that the U.S.-Iran ceasefire remains in place.
WTI Crude Oil for June month delivery was last seen trading down by $3.80 (or 3.57%) at $102.62 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.