Oil prices extended recent gains on Friday, with Brent crude futures briefly hitting 2019 highs above $65 per barrel, helped by OPEC-led supply cuts and the announcement of an even deeper cut by Saudi Arabia.
Global benchmark Brent crude rose 0.3 percent to $64.76 per barrel, while U.S. West Texas Intermediate crude futures were up 0.1 percent at $54.46 per barrel.
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Market Analysis
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.