Of all the cases of economic espionage charged by the DOJ's National Security Division since 2012, more than 80% of them implicated China.World Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.Singapore Summitread more
"This would be the most profound violation of the presidential oath of office certainly during this presidency," House Intelligence Chair Adam Schiff said.Politicsread more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
Cryptocurrency fans will hope the futures contracts, which are federally regulated, can provide some much-needed legitimacy to bitcoin.Cryptocurrencyread more
Despite mixed fan and critic reactions to the final season of "Game of Thrones," the eight-season epic took home the top prize in the drama category at the Emmy Awards on...Entertainmentread more
There are alternative financial centers and investors can turn to Singapore, Tokyo or Shanghai if Hong Kong doesn't "shape up," says the founder and chairman of Citic Capital.Singapore Summitread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Singapore Summitread more
U.S. crude for December snapped a three-day losing streak to settle up more than 6 percent, or $2.74, at $45.94 a barrel on Wednesday.
Oil futures recovered after paring gains slightly following the Federal Reserve's announcement that it would leave interest rates near zero.
Prices had risen on Wednesday, extending gains from an earlier rally, after the U.S. reported a crude inventory build that reversed bearish market expectations.
The price spike stalled oil bears' expectations for a longer and deeper price rout after futures hit two-month lows in the previous session on worries about high supplies and weak demand.
Bets that the U.S. Federal Reserve would hold off on a U.S. rate hike had weighed on the dollar, fueling price gains across commodities and adding to the oil rally.
were up $2.14, or 4.5 percent, at $48.95 a barrel at 2:35 p.m. EDT (1835 GMT), having fallen to their lowest since mid-September on Tuesday.
Prices surged within 30 minutes of the start of the official session in New York, jumping more than $1 with many traders citing a big algorithmic trade for the hike.
The U.S. Energy Information Administration (EIA) added to the rally when it reported that crude stockpiles rose 3.4 million barrels last week, matching analysts forecasts in a Reuters poll. But the build was less than the 4.1 million-barrel build posted on Tuesday by industry group the American Petroleum Institute.
"The market was looking for more bearish information and got a neutral report," Scott Shelton, energy broker and commodities specialist with ICAP in Durham, North Carolina.
The EIA also cited an inventory drop of 785,000 barrels at the Cushing, Oklahoma, delivery hub for U.S. crude futures.
Stockpiles of gasoline and distillates, which include diesel, fell more than expected and front-month U.S. gasoline and ultra-low sulfur diesel futures also gained 5 percent ahead of contract expirations on Friday.
"The draw-down in distillates and gasoline inventories bested expectations by a decent amount, helping to color the report bullish," said John Kilduff, partner at Again Capital in New York.
But some remained steadfast that prices would turn lower eventually, saying whatever reported by the EIA was only mildly bullish.
"We were slightly oversold on a technical basis ... so it was not surprising to see the bounce," said Tariq Zahir, trader in crude oil spreads at Tyche Capital Advisors in Laurel Hollow, New York. "I think any rallies should be sold into since we expect to continue seeing builds in the weeks to come."