Crude oil prices rose sharply on Friday after data showed China's services sector activity remained well within growth territory in April, and the U.S. economy saw a bigger than expected addition in U.S. non-farm payrolls in April.
West Texas Intermediate Crude oil futures for June ended higher by $2.78 or about 4.1% at $71.34 a barrel.
Brent crude futures gained $2.69 or about 3.9% to $75.30 a barrel.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.