Oil prices rose by around 1 percent on Wednesday as producer club OPEC said it had deeply cut supply in January and as U.S. sanctions hit Venezuela’s oil exports.
Venezuela’s oil exports have tapered off and shifted toward India since new U.S. sanctions began Jan. 28 as state-run oil company PDVSA seeks to replace deliveries to the United States and Europe that were disrupted by payment restrictions.
Cleveland Fed President Loretta Mester on Tuesday said she has not seen evidence that the Federal Reserve’s shrinking balance sheet has caused disruption in financial markets.
U.S. Treasury Secretary Steven Mnuchin said on Wednesday he hopes for “productive” trade meetings in China this week, as the two countries seek to hammer out an agreement amid a festering dispute that has seen both level tariffs at each other.
Twitter Inc Chief Executive Jack Dorsey said on Tuesday that Silicon Valley companies, including his own, have not done enough to protect victims of online abuse, calling it a “huge fail.”
Asian stocks pulled ahead and safe-haven government bonds came under further pressure on Wednesday on optimism the United States and China might be able to hammer out a deal to resolve their nearly year-long trade dispute.
Advisers to Venezuela’s self-declared president Juan Guaido have proposed he appoint six executives to a transitional board for U.S. refiner Citgo Petroleum Corp, Venezuela’s most important foreign asset, four people close to the talks said.
Ford Motor Co told British Prime Minister Theresa May that it is stepping up preparations to move production out of Britain, The Times reported on Tuesday.
Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter said on Tuesday.
The Federal Reserve will chart plans to stop letting its bond holdings roll off “at coming meetings,” Cleveland Fed President Loretta Mester said on Tuesday, signaling another major policy shift for the Fed after pausing interest rate hikes.
General Electric Co booked the most orders for electricity-generating gas turbines in 2018 but fell to second place for the largest and most advanced machines, behind Mitsubishi Hitachi Power Systems, according to a closely watched report seen by Reuters and people familiar with the matter.
Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter said on Tuesday.
Ford Motor Co told British Prime Minister Theresa May that it is stepping up preparations to move production out of Britain, The Times reported on Tuesday.
Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that will value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter told Reuters on Tuesday.
Oil prices rose more than 1 percent on Tuesday after OPEC figures showed it cut production sharply in January, and as lead member Saudi Arabia said it would reduce its output in March by an additional 500,000 barrels.
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