Key Events Around the Globe: Jan 28

Us Crude Inventories Decline, Signalling Bullish Trend for Oil Prices

The American Petroleum Institute (API) has reported a decrease in the weekly crude stock, indicating a potential surge in demand for crude oil and its derivatives. The actual inventory levels, as per the latest report, have dipped to-0.250 million barrels, a significant deviation from the forecasted increase of 1.450 million barrels. The decline in crude inventories not only defied the forecasted figures but also presented a stark contrast to the previous week’s inventory level of 3.040 million barrels. This unexpected shrinkage of stock levels suggests a stronger demand for crude oil, which is bullish for crude prices. The API’s weekly crude stock report is a key indicator of US petroleum demand and provides insights into the availability of oil and its products in storage. A higher than expected increase in inventories typically implies weaker demand, bearish for crude prices. Conversely, a decrease in inventories more than expected, as in the current scenario, implies greater demand and is bullish for crude prices.

US Consumer Confidence Dips, Falling Short of Economic Forecasts

The latest data on the Conference Board (CB) Consumer Confidence Index has been released, showing a decline in consumer confidence in economic activity. The actual reading came in at 84.5, a decrease from the previous figure and falling short of economists’ expectations. Analysts had forecasted a figure of 90.6, indicating an expected rise in consumer optimism. However, the actual number proved to be significantly lower, painting a less positive picture of the U.S. economy. When compared to the previous reading of 89.1, the new figure also marks a downturn. This decline suggests a decrease in consumer spending, which is a key driver of overall economic activity. The Consumer Confidence index is a leading indicator of economic health, with higher readings indicating increased consumer optimism. It is closely watched by analysts and investors alike as it can predict trends in consumer spending.

Spain’s Quarterly Unemployment Rate Dips Below 10% for First Time in 18 Years

Spain’s unemployment rate fell to 9.93% in the fourth quarter of 2025 from 10.45% three months earlier, data from the National Statistics Institute (INE) showed on Tuesday, the lowest in 18 years. The rate dipped below the 10% landmark for the first time since the first quarter of 2008, when it stood at 9.6%, INE data showed. The private sector contributed 92% of the new jobs created in 2025, Economy Minister Carlos Cuerpo said in a video statement

Source: HSL Prime Daily, 28 Jan 2026

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