After reporting a sharp pullback by U.S. crude oil inventories in the previous week, the Energy Information Administration released a report on Wednesday showing crude oil inventories dipped by much less than expected in the week ended August 23rd.
The EIA said crude oil inventories edged down by 0.8 million barrels last week after tumbling by 4.6 million barrels in the previous week. Economists had expected crude oil inventories to decrease by 3.0 million barrels.
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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.