The Energy Information Administration released a report on Wednesday showing a substantial rebound by U.S. crude oil inventories in the week ended February 20th.
The report said crude oil inventories spiked by 16.0 million barrels last week after tumbling by 9.0 million barrels in the previous week.
At 435.8 million barrels, U.S. crude oil inventories remain about 3 percent below the five-year average for this time of year, the EIA said.
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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.