Oil prices rallied on Friday as Hormuz concerns persisted and U.S. President Donald Trump claimed the United States will prevail in its war with Iran, "peacefully or otherwise".Brent crude prices for July delivery jumped more than 3 percent to $109.19 a barrel as attacks on one ship and the seizure of another around the Strait of Hormuz stoked concerns about energy supplies.WTI crude futures soare...
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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.