After reporting a steep drop by U.S. crude oil inventories in the previous week, the Energy Information Administration released a report on Wednesday showing crude oil inventories unexpectedly saw further downside in the week ended September 19th.
The report said crude oil inventories edged down by 0.6 million barrels last week after plunging by 9.3 million barrels in the previous week. Economists had expected crude oil inventories to inch up by 0.8 million barrels.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.