Oil prices climbed higher on Wednesday after data showed a bigger than expected drop in U.S. crude inventories in the week ended December 8th, and on reports that a tanker was hit by gunmen in the Red Sea off Yemen's coast.
OPEC+ lifted its estimate f 2023 global economic growth based on its latest monthly report released earlier in the day. The cartel expects oil demand to grow by 2.2 million barrels per day next year.
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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.