Crude oil prices climbed higher on Friday, buoyed by fairly strong data on private sector activity in the U.K. and eurozone.
Concerns about the U.S. economic outlook and interest rate uncertainty limited the uptick in oil prices.
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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.