Oil prices fell sharply on Monday after U.S. President Donald Trump said he was hopeful of agreeing a deal with Iran.
Trump's comments came after Iranian supreme leader Ayatollah Ali Khamenei likened the recent protests to a "coup" and warned that any U.S. attack on the Islamic Republic would trigger a regional war.
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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.