The Massachusetts senator's alarm-sounding on consumer debt neglects to measure it against the growth in the economy and the ability to pay.Economyread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
Secretary of Education Betsy DeVos and her family have seen their investments skyrocket since President Donald Trump started enacting pro-business policies. Meanwhile, DeVos...Politicsread more
The deal between the White House and Democrats was earlier expected to raise the debt ceiling for two years and permanently end the sequester.Politicsread more
See which stocks are posting big moves after the bell on July 22.Market Insiderread more
The construction industry is heavily dependent on Hispanic and Latino workers, a workforce that diminished during the last housing crisis and has not come close to full...Real Estateread more
The deal could be announced as soon as next week, according to the report.Technologyread more
Former NFL offensive lineman Jeff Hatch, who had previously been candid about his own struggles with opioid addiction and substance abuse, pleaded guilty Friday to a drug...Politicsread more
A group of gold miners stocks, "BAANG," are better plays than mega-cap FAANG names, according to John Roque, technical analyst at Wolfe Research.Marketsread more
T-Mobile is choosing to move ahead with a merger with Sprint even though it will prop up Dish Network as a new, possibly disruptive fourth U.S. wireless competitor.Technologyread more
Danger is lurking in the stock market: An abrupt sell-off could be around the corner if the Federal Reserve doesn't deliver the rate cut the market expects next week, the firm...Marketsread more
U.S. crude turned positive on Thursday afternoon after earlier falling below $44 a barrel for the first time since April 2009, while benchmark Brent sharply pared early gains after data showing additions to already record-high U.S. oil inventories.
Oil prices had risen broadly earlier in the session after preliminary U.S. weekly jobless claims data hit a nearly 15-year low, indicating further strength in the world's largest economy.
But crude futures in New York were near a six-year low by midmorning after a report from oil services firm Genscape, which showed fresh builds of 1.6 million barrels at the Cushing, Oklahoma delivery point for U.S. crude in the period of Jan. 23 through Jan. 27, according to a market source.
Inventories of U.S. crude were already at record highs for the week ended Jan. 23, according to government data issued on Wednesday. Last week's build alone was almost 9 million barrels, taking stockpiles to nearly 407 million, the highest level since the government began keeping such records in 1982.
"There are absolutely very few reasons to buy crude oil now and the only path I see from here is lower," said James Williams, energy economist at WTRG Economics in London, Arkansas.
U.S. crude futures' front-month contract settled up 8 cents, at $44.53 a barrel, after falling to $43.58 earlier. showed a 70-cent gain at $49 a barrel.
The spread between the two crude oils was its largest since Dec. 29, with Brent fetching a premium of more than $5 a barrel due to the weaker fundamentals in U.S. crude.
The current "contango" market structure in both Brent and WTI, where forward month contracts are pricier to nearby oil, is also giving traders an incentive to short prompt crude and buy forward contracts for storage in the hope of delivering those for a profit later.
Oil prices have tumbled about 60 percent since June, with losses accelerating from November onward when the Organization of the Petroleum Exporting Countries refused to cut its output to shore up prices.
OPEC's dominant member and top oil exporter Saudi Arabia has repeatedly rebuffed calls from other OPEC producers such as Venezuela and Algeria in recent months to reconsider the November decision. The OPEC secretary-general said this week the seven-month long sell-off in oil may have run its course and prices could rebound.