Mnuchin told CNBC that he's confident President Donald Trump and President Xi Jinping can make progress in stalled trade talks.World Economyread more
U.S. stock index futures jumped Wednesday morning after Treasury Secretary Steven Mnuchin told CNBC that the U.S. and China were almost there on a trade deal.US Marketsread more
President Donald Trump's administration hopes additional sanctions on Iran will force the country to negotiate.Politicsread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
Bitcoin surged as high as $12,919 in early morning trade Wednesday, to its highest level since January 2018.Technologyread more
The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.Real Estateread more
Tesla CEO Elon Musk sent out another email to his employees, pushing them to aim for a record number of vehicle deliveries to end the second quarter of 2019.Technologyread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
The Senate is expected to pass its own version of the border aid legislation, while the Trump administration has threatened to veto both bills.Politicsread more
Some 4 million people have fled the South American country since 2015 amid an economic meltdown.World Politicsread more
Crude prices closed lower on Wednesday despite bullish inventory data.
U.S. crude stocks fell for the seventh consecutive week last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.
Crude inventories fell by 8.95 million barrels in the last week, nearly three times analysts' expectations for a decrease of 3.1 million barrels.
West Texas Intermediate futures for September delivery settled down 77 cents, or 1.62 percent, at $46.78 per barrel.
Refinery crude runs fell by 9,000 barrels per day, EIA data showed. Refinery utilization rates slipped by 0.2 percentage points.
Gasoline stocks were unchanged, compared with analysts' expectations in a Reuters poll for a 1.1 million-barrel drop.
Distillate stockpiles, which include diesel and heating oil, rose by 702,000 barrels, versus expectations for a drop of 572,000 barrels, the EIA data showed.
U.S. crude imports rose last week by 194,000 barrels per day.
More broadly, analysts said ample supplies were preventing prices from moving much higher.
"Excessive supply ... is continuing to weigh on oil prices ... Not a lot has changed despite the OPEC and Russia efforts recently. While these producers have tried to limit their oil output, U.S. shale oil continues to rise," said Fawad Razaqzada, an analyst at futures brokerage Forex.com.
The Organization of the Petroleum Exporting Countries together with non-OPEC producers including Russia have pledged to restrict output by 1.8 million barrels per day between January this year and March 2018.
Offsetting much of that effort, however, U.S. oil production has soared by almost 12 percent since mid-2016 to 9.42 million barrels per day.
"OPEC and Russia still face an uphill battle in reducing the global supply surplus in the face of growth in output elsewhere and less than compliant behavior in their midst (Iraq, UAE)," French bank BNP Paribas said.