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 edged up towards $64 a barrel on Tuesday, supported by the Forties pipeline outage in the North Sea, OPEC-led supply cuts and expectations that U.S. crude inventories had fallen for a fifth week.
But rising output in the United States has put a lid on gains. Shale production will rise to a record in January, according to a government forecast published on Monday, as higher prices encourage increased drilling.
The shutdown of the North Sea's Forties pipeline since last week has supported Brent, as Forties is the largest of the five crude grades underpinning the benchmark. On Dec. 12, Brent reached $65.83, its highest since mid-2015.
"You've had a little surge because the pipeline is still plaguing the North Sea," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management, "It's enough to sway some market sentiment but a lot of it is already priced in."
Ineos, operator of the Forties pipeline, said on Tuesday it was moving forward with a preferred repair option and the timeframe for the fix remained two to four weeks starting from Dec. 11, the date of the shutdown.
Oil ticked up after reports that a missile was fired at Riyadh from Yemen, but pared gains after Saudi Arabia said it intercepted the missile and no casualties were reported.
A deal by the Organization of the Petroleum Exporting Countries and non-member producers including Russia to cut supplies in an attempt to get rid of a supply glut that has built up since 2014 has also boosted prices.
OPEC and its allies have extended the agreement until the end of 2018 and Russia's Rosneft said on Monday it could be maintained beyond next year.
As a result of the cuts, oil inventories are falling globally and the latest weekly supply reports are expected to show a further reduction in U.S. crude inventories.
The first of these reports, from the American Petroleum Institute, is due at 2130 GMT on Tuesday.
Still, rising U.S. production is countering OPEC's cuts and other supply losses.
U.S. shale output in January is forecast to increase by 94,000 barrels per day to 6.41 million bpd, according to the EIA's monthly drilling productivity report.
"The U.S. shale oil report issued late yesterday is on the bearish side as it confirms an acceleration in U.S. production," said Olivier Jakob, analyst at Petromatrix.
That forecast follows an EIA prediction last week that total oil production, including non-shale, will grow by 780,000 bpd to a record 10.02 million bpd in 2018.