Crude oil prices surged higher on Wednesday after data showed a drop in crude inventories in the U.S. in the week ended July 22nd.Cuts in Russian gas flows to Europe contributed as well to oil's sharp rise. According to reports, gas flows through the Nord Stream 1 pipeline fell to a fifth of the pipeline's capacity on Wednesday.West Texas Intermediate Crude oil futures for September ended higher b...
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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.