Partly offsetting the losses from three consecutive sessions, crude oil prices have inched higher on Friday as Middle East tensions renewed after the exchange of fire between the U.S. and Iran. Iran is delaying its response to a U.S. peace proposal to end the war, adding to the uncertainty.
WTI Crude Oil for June month delivery was last seen trading up by $0.36 (or 0.36%) at $95.17 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.