President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Oil prices edged lower on Monday, as growth in U.S. crude output cast a shadow over the market offset support from a North Sea pipeline outage and a workers' strike in the Nigerian energy industry.
U.S. West Texas Intermediate (WTI) crude futures ended Monday's session down 14 cents at $57.16 a barrel.
Brent crude futures, the international benchmark for oil prices, were at $63.15 a barrel, down 8 cents from their last close at 1:53 p.m. ET (1853 GMT).
The Brent benchmark had traded as high as $63.91 earlier in the day, but the contract pared gains after Ineos, the operator of the closed North Sea Forties pipeline, said crack in the line that shut it down had not spread.
"The Forties pipeline outage is continuing to be supportive of the market," said John Kilduff, partner at Again Capital. "We're just watching this as to see how the market reacts to not having these barrels available."
The 450,000-barrels-per-day (bpd) link that provides some of the physical crude underpinning Brent has been shut since Dec. 11, forcing Ineos to declare force majeure on all oil and gas shipments from it last week.
"There is still no reliable information about how long the repair work will last and when the pipeline will go back into operation," Commerzbank said in a note, adding "this should preclude any fall in the Brent price for the foreseeable future."
A major Nigerian oil union said on Monday it would suspend a nationwide strike after securing worker demands through dispute resolution with the government and an oil firm. The strike by Nigerian oil workers had sparked concerns over exports from Africa's largest crude producer.
The Petroleum and Natural Gas Senior Staff Association of Nigeria, whose members mainly work in the upstream oil industry, started industrial action on Monday after talks with government agencies ended in deadlock.
In the United States, energy companies cut rigs drilling for new production for the first time in six weeks, to 747, in the week ended Dec. 15, energy services firm Baker Hughes said on Friday.
Despite the dip in drilling, activity is still well above this time last year, when the rig count was below 500. Actual U.S. production has soared by 16 percent since mid-2016 to 9.8 million bpd.
U.S. output is fast approaching that of top producers Saudi Arabia and Russia, which are pumping 10 million bpd and 11 million bpd respectively.
This has undermined market-balancing efforts by the Organization of the Petroleum Exporting Countries and a group of non-OPEC producers including Russia to withhold production.
Largely because of rising U.S. shale output, the International Energy Agency said global oil markets would show a supply surplus of around 200,000 bpd in the first half of 2018.
The U.S. Energy Information Administration showed a similar surplus for that period and indicated a supply overhang of 167,000 bpd for all of 2018.
— CNBC's Tom DiChristopher contributed to this report.