Oil prices rose on Wednesday, snapping three straight sessions of declines after industry data showed a draw in U.S. inventories for a fourth consecutive week. Growing supply risks from wildfires in Canada also offered some support while the upside was capped by a firmer dollar, lingering concerns over top importer China and chatter over an Israel-Hamas ceasefire.Benchmark Brent crude futures jump...
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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.