Oil prices rose as U.S. oil and fuel inventories reduced causing speculation over further OPEC+ output cuts. Industry data revealed a decline of 6.8 million barrels in crude inventories in the week to May 19 along with 6.4 million drop in gasoline inventories. Distillate inventories were down 1.8 million. Confirmation of these figures in data from the Energy Information Administration would mean a third straight weekly decline in U.S. gasoline inventories to the lowest levels since 2014 pre-Memorial Day. OPEC+ production cuts are set to take effect this month. However, some investors remain cautious about US debt ceiling discussions.
Union Bank of India approves plan to raise up to Rs 20,000 crore via long-term bonds
Union Bank of India will raise funds through bond issuances. The bank’s committee approved long-term bonds worth twenty thousand crore rupees for infrastructure and affordable
March 16, 2026