A report released by the Energy Information Administration on Wednesday showed crude oil inventories in the U.S. jumped by much more than expected in the week ended March 13th.
The EIA said crude oil inventories shot up by 6.2 million barrels last week after climbing by 3.8 million barrels in the previous week. Economists had expected crude oil inventories to inch up by 0.4 million barrels.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.