The most important events and reports on the economy, central banks and politics from the Dow Jones Newswires program
Birol: IEA member countries release oil reserves of 400 million barrels
Member countries of the International Energy Agency (IEA) will release a record amount of oil reserves earmarked for emergencies due to the situation in the Middle East, according to its Executive Director Fatih Birol. Birol said in a brief statement that the countries had unanimously decided to release 400 million barrels of oil. The countries would continue their consultations.
OPEC keeps oil demand forecast stable – massive disruptions in the Gulf
The Organization of the Petroleum Exporting Countries (OPEC) has maintained its forecasts for global oil demand. The Middle East conflict continues to massively disrupt crude oil flows in the Gulf and is forcing major producers to cut back on production. Oil demand is expected to rise by 1.34 million barrels per day next year. This is slightly below the 1.38 million barrels per day estimated for 2026 and is supported by a solid global economy.
US inflation rate remained at 2.4 percent in February
Inflation pressure in the US remained stable in February, as expected. As the US Department of Labor announced, consumer prices rose by 0.3 percent compared to the previous month and were 2.4 (previous month: 2.4) percent above the level in the same month last year. Economists surveyed by Dow Jones Newswires had expected a monthly price increase of 0.3 percent and an annual increase of 2.4 percent. Core consumer prices (excluding energy and food) rose by 0.2 percent on a monthly basis and by 2.5 (previous month: 2.5) percent on an annual basis. The economists surveyed had expected a monthly rate of 0.2 percent and an annual rate of 2.5 percent.
US real incomes rise in February
Real incomes in the US rose 0.1 percent in February compared to the previous month. As the US Department of Labor announced, there was an increase of 0.5 percent in January. According to the authority, the average weekly income, adjusted for seasonally and inflation, was $390.91 in February, compared to $390.38 in the previous month.
US crude oil inventories rise more than expected
U.S. crude oil inventories expanded in the week ended March 6th. According to the state Energy Information Administration (EIA), they rose by 3.824 million barrels compared to the previous week. Analysts polled by Dow Jones Newswires had forecast a rise of 1.1 million barrels. In the previous week, inventories had increased by 3.475 million barrels.
ECB/Schnabel: Projections will partly reflect market developments
According to ECB Director Isabel Schnabel, next week’s macroeconomic projections from the European Central Bank’s (ECB) economic staff will look different than those published in December. “The March projections will partly reflect recent market developments,” she said at an event in Frankfurt. When asked, she explained that the deadline for the survey had been pushed back. “A deadline before the start of the Iran war would have been pointless,” she said.
BNP Paribas: ECB will probably wait and see for now
Analysts at BNP Paribas expect the European Central Bank (ECB) to leave its key interest rate unchanged at the meeting on March 19 and that ECB President Christine Lagarde will abandon its assessment of a “good position” in favor of a more risk-conscious tone. “The updated forecasts are unlikely to reflect the recent rise in energy prices and are therefore – apart from any scenario analyzes that may be provided – only of limited significance,” they write in their outlook for next Thursday’s interest rate decision.
Eurosystem presents plan for tokenized financial system
The European Central Bank (ECB) has presented a strategic initiative to develop a European tokenized financial ecosystem in which central bank money will continue to play a central role. The strategy, called “Appia”, aims to bring together the Eurosystem (ECB and national central banks of the euro area) and actors from the public and private sectors with the aim of creating integrated, innovative and resilient tokenized Financial markets for institutional wholesale trading in Europe.
Trump renews trade threat against Spain
US President Donald Trump has renewed his threat to stop trade with Spain. The reason for this is the country’s resistance to the attacks on Iran by the USA and Israel. “I think they’re not cooperating at all,” Trump said of Spain. “We could stop trading.” Trump made a similar threat earlier this month, but the US government quickly withdrew it. No official action was taken. It is unclear to what extent the US could impose tariffs on a single European Union country such as Spain.
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(END) Dow Jones Newswires
March 11, 2026 2:00 p.m. ET (18:00 GMT)
