Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
U.S. crude prices fell nearly 3 percent on Wednesday on worries that U.S. government data will show a seventh weekly build in crude inventories.
U.S. crude stocks jumped 6.3 million barrels last week, powered by a big rise at the Cushing, Oklahoma, delivery point as higher imports offset increased refinery runs, data from industry group the American Petroleum Institute showed late on Tuesday.
Analysts in the Reuters poll had forecast a more modest build of about 1 million barrels.
The Energy Information Administration (EIA) will issue official inventory data on Thursday, a day later than usual due to the U.S. Veterans Day holiday on Wednesday.
Benchmark U.S. crude futures closed down 2.9 percent, at $42.93 a barrel. Internationally traded Brent crude futures were down $1.60, or 3.4 percent, at $45.80 a barrel, near the lowest level since Brent touched $43.70 set on Aug. 27.
"With U.S. commercial crude cover likely to see new 80-year highs by month's end amidst some indications that the rate of production decline is slowing, our long held view that WTI will be re-visiting the late August lows of $37.75 has been reinforced," said Jim Ritterbusch of Chicago oil consultancy Ritterbusch & Associates.
Crude prices have fallen in five of the last six sessions on worries about building U.S. inventories.
Fears that the largest oil producers such as Saudi Arabia and Russia were still pumping around record levels were also weighing on the market.
OPEC member Ecuador said at an Arab-South American summit in Riyadh that the only way to balance the market was to cut production and it aimed to reach an agreement on that at the producer group's December meeting.
At the same summit, Saudi Oil Minister Ali al-Naimi told Reuters he had discussed markets with his Venezuelan counterpart Eulogio del Pino.
Venezuelan President Nicolas Maduro used the summit to push his idea of convening a meeting of world oil producers that could revive sub-$50 a barrel prices that have walloped the Venezuelan economy.
CORRECTION: Oil fell 2.9 percent on Wednesday, which was misstated in an earlier version of this article. The story has also been updated to reflect that the EIA will release oil inventories data Thursday.