United States EIA Distillate Fuel Production Change

United States EIA Crude Oil Imports Change

United States EIA Gasoline Stocks Change

United States EIA Heating Oil Stocks Change

Moldova’s economy advanced by 3.6% year-on-year in the fourth quarter of 2025, following a downwardly revised 5.1% growth in the previous period, supported mainly by household consumption (+2.2%). However, gross fixed capital formation (-6.7%) and net exports were the main drags. On a seasonally adjusted quarter-on-quarter basis, the GDP shrank by 0.6%, after a downwardly revised 1.3% rise in the previous quarter. Considering the whole year of 2025, the economy grew by 2.4%, markedly faster than 0.3% in 2024.

Moldova GDP Growth Slows to 3.6% in Q4

The US consumer price index rose by 0.3% from the previous month in February, picking up from the 0.2% increase in the previous month and matching market expectations. Prices rose sharply for fuel oil (11.1 vs -5.7% in January) and gasoline (0.8% vs -3.2%), lifting aggregate energy costs by 0.6%. Energy prices are due to rise further in March as the war in Iran triggered a surge in energy commodity prices. In the meantime, food costs rose by 0.4% (vs 0.2%) amid increases in food at home (0.4% vs 0.2%) and away from home (0.3% vs 0.1%). Core consumer prices rose by 0.2% from the five-month high of 0.3% in January, with support from medical care services (0.6% vs 0.3%) offsetting the decline in used cars and trucks (-0.4% vs -1.8%).

US Consumer Prices Rise as Expected

Silver extended its decline to fall below $86 per ounce on Wednesday as investors evaluated escalating tensions in the Middle East alongside fresh US inflation data and their implications for the policy outlook of the Federal Reserve. The US-Israeli campaign against Iran entered its 12th day, with the Pentagon reporting its most intense strikes of the conflict and pledging to continue operations until the Islamic Republic is defeated. This stance contrasted with comments from President Trump suggesting the conflict could end sooner than expected. The war has effectively shut the Strait of Hormuz, pushing oil prices higher and reviving concerns about global inflation, which has led markets to scale back expectations for interest rate cuts from major central banks. Meanwhile, US CPI data showed inflation held steady at 2.4% in February, before the Iran war began, its lowest level since May 2025, while core inflation remained unchanged at 2.5%, the lowest since March 2021.

Silver Falls as Middle East Tensions and Fed Outlook Weigh

The dollar index resumed gains to 99.1 on Wednesday, hovering near the high levels reached since the war with Iran began earlier this month. Traders continue to monitor the war and its impact on oil markets. Oil saw brief relief amid reports that countries are preparing to release reserves, but prices resumed their rise, keeping concerns about an energy-driven inflation spike alive. On the data front, February inflation came in line with forecasts, showing stable but above-target CPI. However, the full effect of the energy surge from the conflict is yet to be reflected. The Fed is widely expected to keep the federal funds rate steady next week, with traders anticipating only one 25bps cut, possibly in September. The greenback was mostly higher against the euro and the yen but was losing against the Australian dollar as traders ramp up bets the RBA will raise interest rates next week.

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