Crude oil inventories in the U.S. decreased by much more than expected in the week ended May 8th, according to a report released by the Energy Information Administration on Wednesday.The EIA said crude oil inventories slumped by 4.3 million barrels last week after falling by 2.3 million barrels in the previous week. Economists had expected crude oil inventories to drop by 2.1 million barrels.At 45...
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.