Crude oil prices climbed higher on Monday and the oil futures contract posted the biggest monthly gain in over a year, amid signs of tight supply and optimism over increased demand in the U.S. and China.
Rising expectations about an end to U.S. rate hikes, and hopes that Saudi Arabia will continue with its output reduction plan right through the month of September contributed as well to 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.