US housing starts fall 15% in May as building permits inch higher

US housing starts fell 15% in May, reaching the lowest levels since COVID, although building permits increased slightly. This collapse signals a potential economic slowdown, affecting construction jobs and housing affordability while potentially influencing Federal Reserve rate decisions. Simultaneously, US strategic oil reserves have dropped to their lowest level since 1983. This depletion may increase market volatility and expose supply vulnerabilities, which could significantly impact future oil price dynamics and broader economic stability across various markets.