Crude oil has edged down on Thursday as traders' concerns increase about surplus oil flooding the market.
WTI Crude Oil for December delivery was last seen trading down by $0.21 (or 0.35%) at $59.39 per barrel.
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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.