Crude oil futures pared early gains and settled just slightly higher on Tuesday after data from the Labor Department showed U.S. consumer prices increased by slightly less than expected in the month of August and traders weighed the impact of tropical storm Nicholas.
The Labor Department said its consumer price index rose by 0.3% in August after climbing by 0.5% in July. Economists had expected consumer prices to increase by 0.4%.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.