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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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.