Oil prices ticked higher on Monday after the United States and Iran failed to agree on a pace deal, keeping the Strait of Hormuz largely closed and raising doubts about the durability of a fragile ceasefire.
Brent crude futures for July delivery were up 2.4 percent at $103.76 a barrel, while WTI crude futures for June delivery rose by 2.2 percent to $97.52 a 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.