Crude oil futures settled sharply higher on Wednesday after data showed a larger than expected drop in crude inventories in the U.S. in the week ended December 17th.
Easing worries about Omicron and U.S. President Joe Biden's remarks that it is still possible to reach a deal with Senator Joe Manchin to push the $2 trillion Build Back Better bill through Congress also contributed to the jump in oil prices.
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Market Analysis
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.