Extending the losses from yesterday's session, crude oil prices have went into freefall today after U.S. President Donald Trump indicated the U.S. and Iran may reach a deal soon. In addition, media reports hinted that the U.S. and Iran are readying a one-page Memorandum of Understanding to end the war.
WTI Crude Oil for June month delivery was last seen trading down by $7.83 (or 7.66%) at $94.44 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.