Oil prices fell on Tuesday amid concerns over demand from China and caution ahead of testimony before Congress by Federal Reserve Chair Jerome Powell.
Benchmark Brent futures slipped 0.2 percent to $85.97 a barrel, with a weaker dollar helping cap the downside. WTI crude futures were down 0.2 percent at $80.30.
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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.