After reporting an unexpected increase by U.S. crude oil inventories in the previous week, the Energy Information Administration released a report on Wednesday showing a sharp pullback by crude oil inventories in the week ended April 24th.
The EIA said crude oil inventories plunged by 6.2 million barrels last week after climbing by 1.9 million barrels in the previous week.
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Market Analysis
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.