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(AWP Alliance News) - US natural gas stocks increased by a higher net change than anticipated for the week ended Friday, May 15, the Energy Information Administration reported on Thursday. Stocks of working gas in underground storage grew by 101 billion cubic feet to 2,391 Bcf from 2,290 Bcf in the week ended May 8, the EIA said. The 101 Bcf increase was larger than the 88 Bcf rise for the week before, and beat the FXStreet-cited consensus for a rise of 96 Bcf. 'Stocks were 33 Bcf higher than last year at this time and 149 Bcf above the five-year average of 2,242 Bcf,' the EIA noted. 'At 2,391 Bcf, total working gas is within the five-year historical range.' By Emma Curzon, Alliance News reporter Comments and questions to newsroom@alliancenews.com Copyright 2026 Alliance News Ltd. All Rights Reserved.

(AWP Alliance News) - US business activity growth held steady in May at a modest rate compared to earlier in the year, according to flash purchasing manager's data from S&P Global on Thursday. An improved performance in manufacturing was countered by a sluggish service sector, the report showed. Factory growth was again in part supported by temporary stock building and both sectors reported that order book growth had been somewhat subdued by the ongoing war in the Middle East, most notably in terms of export sales. The headline flash S&P Global US PMI Composite Output Index, covering both manufacturing and services, held steady at 51.7 in May, unchanged from April, and below 51.8 consensus. The S&P Global US Manufacturing PMI rose to 55.3 in May, from 54.5 in April to sit at its highest since May 2022, beating FXStreet consensus of 54.0. The flash US Services PMI Business Activity Index eased to 50.9 in May from April's 51.0 where it was expected to stay. 'The damaging economic impact from the war in the Middle East is becoming increasingly evident in the business surveys. The 'flash' PMI data for May recorded only modest growth of business activity as demand was again squeezed by a further spike in prices and jobs were cut as firms worried over rising costs and the economic outlook,' said Chris Williamson, Chief Business Economist at S&P Global Market Intelligence. 'Coming on the heels of a subdued April reading, the May PMI indicates that the economy will struggle to manage annualized GDP growth of much more than 1% in the second quarter,' he added. Looking ahead, expectations diverged. Service sector optimism fell to its weakest since April 2025, and second lowest since October 2022, reflecting growing concern over the outlook for demand thanks to surging prices, higher interest rates and heightened political uncertainty. In contrast, manufacturers were their most optimistic since February 2025 and one of the highest levels seen since the pandemic, thanks to the recent upturn in orders and the ongoing anticipation of tariff-related reshoring. Input price inflation surged to its highest since November 2022, in part due to supply constraints but also driven up by increased energy prices. Manufacturing input costs registered their largest monthly increase since June 2022. While average prices charged for goods and services rose in April at the fastest rate since August 2022 amid the growing supply scarcities and jump in costs. The S&P Global Flash US Composite PMI is compiled by S&P Global from responses to questionnaires sent to survey panels of around 650 manufacturers and 500 service providers. Final May data are published on June 1 for manufacturing and June 3for services and composite indicators. By Jeremy Cutler, Alliance News reporter Comments and questions to newsroom@alliancenews.com Copyright 2026 Alliance News Ltd. All Rights Reserved.

(AWP Alliance News) - The International Monetary Fund said Thursday that it had cut its forecast for French economic growth this year to 0.7% from 0.9%, citing inflation risks from the war in the Middle East. 'Business investment and household consumption are set to moderate in response to the shock, amid a persistent wait-and-see attitude ahead of the 2027 elections,' the IMF said in its latest review of the country. Its forecast is below the government's own forecast for growth of 0.9% this year, the same level reached in 2025. Officials are currently weighing new financial help for households and businesses struggling with fuel price increases from the Middle East war, even as the government seeks to cut billions of euros in spending to cut the deficit. The country is also gearing up for 2027 presidential elections where centrist Emmanuel Macron, in office since 2017, is not eligible to run, leaving a wide-open field where polls suggest the far right could make gains. 'Heightened political uncertainty ahead of next year's presidential elections could further delay planned fiscal consolidation and structural reforms,' the IMF said. France is under pressure to reduce a budget deficit that stood at 5.1% of GDP last year - well above the three-percent limit set for members of the eurozone. Prime Minister Sebastien Lecornu has pledged to bring it down to around five percent as part of the 2026 state budget passed earlier this year. But the Mideast war has sent energy prices soaring worldwide, raising fears the government will have to make painful choices to keep its finance goals on track.  source: AFP Copyright 2026 Alliance News Ltd. All Rights Reserved.