Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
President Donald Trump was expected to deliver remarks Thursday afternoon on supporting America's farmers and ranchersPoliticsread more
Trade tensions with China may be a boon to the U.S. housing market. Investors are rushing into the relative safe-haven of the bond market, cause the yield on the U.S. 10-year...Real Estateread more
Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
Oracle co-founder Larry Ellison disclosed a $1 billion stake in Tesla in late December. It's now worth about $580 million.Technologyread more
Investors trying to get a gauge on the state of U.S.-China trade relations should look at shares of big chipmakers, according to Ned Davis Research.Marketsread more
The e-mail's optimistic tone helped Tesla shares turn positive for the first time in seven days.Technologyread more
J.P. Morgan Chase has cut ties with Purdue Pharma LP over the OxyContin maker's alleged role in the U.S. opioid crisis, forcing it to find a new bank to manage cash and bill...Banksread more
Oil prices tumble as the market braces for a prolonged U.S.-China trade war and on signs the U.S. is willing to negotiate with Iran.Energy Commoditiesread more
Conservative nonprofit dark money group American Action Network dramatically increased its media spending during the tax reform debate of 2017 and the buildup to the 2018...Politicsread more
Stocks are plummeting on Thursday as trade fears wash over Wall Street again. Five experts reveal what they're watching.Trading Nationread more
Crude oil futures ended sharply lower on Friday as the U.S. dollar index hit a fresh eight-month high, adding more pressure to an already oversupplied, bearish market.
Strength in the greenback, which makes oil more expensive for holders of other currencies, joined with negative sentiment that kicked off earlier in the day due to disappointing Chinese economic data.
"There is dollar strength and a sell off across all commodities," said Commerzbank analyst Carsten Fritsch.
Brent crude was down 59 cents to $44.87 per barrel by 1:35 p.m. EDT, after settling down 71 cents at $45.46 in the previous session. It traded as low as $44.80 earlier in the session.
West Texas Intermediate (WTI) futures, the U.S. crude benchmark, settled $1.33 lower, or 3.09%, at $41.71 per barrel. Trading in U.S. futures was muted due to holidays in the country.
Both crude contracts were on track for small weekly gains, but were down by roughly 9 percent since the start of November.
On Friday, officials with the Organization of the Petroleum Exporting Countries (OPEC) questioned an upbeat forecast from its researchers, with some skeptical there will be a quick easing of the supply glut in 2016.
The group is scheduled to convene its annual policy meeting on Dec. 4.
Earlier in the day, Chinese shares slumped 5 percent, hit by regulatory worries and declining industrial sector profits.
Worrying economic indications in the world's largest energy consumer typically filter quickly through to oil prices, particularly given the nagging global surplus of physical oil.
But Bjarne Schieldrop, chief commodities analyst at SEB in Oslo, said the shooting down of a Russian jet by the Turkish military this week had gone from being a geopolitical risk concern to worries about falling oil demand due to potential economic sanctions.
"Rather than being bullish ... it's now bearish for marginal demand," Schieldrop said.
Russia threatened economic retaliation against Turkey on Thursday and said it was still awaiting a reasonable explanation, but Turkey dismissed the threats as "emotional" and "unfitting."
Most market observers expect OPEC to announce plans not to cut production next week despite the resulting financial strain. Still, some said a surprise was not out of the question.
"The meeting promises to be very lively and acrimonious," PVM's David Hufton said in a note, adding the revenue impact of current prices has been "disastrous."
"There may even be walkouts ... and it could still spring a very unlikely surprise."