Analysts say the partial U.S.-China trade deal doesn't touch on thorny issues plaguing both sides, and warn talks could break down again.World Economyread more
"The Champagne should probably be kept on ice, at least until the two presidents put pen to paper," said state-owned media China Daily.Traderead more
Economists polled by Reuters had expected Chinese exports denominated in the U.S. dollar to fall by 3% and imports to decline by 5.2% in September, compared to a year ago.China Economyread more
The U.K. and EU are gearing up for what could be the busiest week in British politics since June 2016.Europe Politicsread more
"It seems like what the two leaders have done is try to set some of the thorny political issues to the side," said Dhruva Jaishankar, director of the U.S. Initiative at the...Asia Politicsread more
The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
Beijing will be opening up its financial industry to foreign ownership from January, namely in the areas of futures, mutual funds and securities.China Economyread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
The United States has cleared the final procedural hurdle in order to impose tariffs on billions of dollars of European products later this month.World Economyread more
A technical recession occurs when there are two consecutive quarters of economic contraction.Asia Economyread more
"Deepfakes" are being used to depict people in fake videos they did not actually appear in, and can potentially affect elections, diplomacy and how markets move, experts say.Technologyread more
U.S. West Texas Intermediate (WTI) crude futures traded at $60.45 a barrel, up 0.05 percent, at around 9.40 a.m. London time. The benchmark peaked at $60.74 a barrel earlier in the trading day, recording its highest level since June 2015.
Brent crude futures traded at $66.81 a barrel on Tuesday morning, down 0.1 percent, after hitting a May 2015 high of $67.29 a barrel earlier in the session.
It was the first time since January 2014 that both crude oil benchmarks had opened the year above $60 a barrel.
Iranian protesters attacked police stations late into the night Monday, news agency and social media reports reported, as security forces struggled to contain the boldest challenge to the clerical leadership since unrest in 2009.
However, even without the ongoing unrest in Iran — which is a major oil exporter — market sentiment was already relatively upbeat.
William Dinning, head of investment strategy at Waverton Investment Management, told CNBC on Tuesday that the energy markets' outlook was "broadly very supportive."
"There doesn't seem to be any great political risk premium in the oil price at the moment and again we think that might be supportive," he added.
Goldman Sachs and Morgan Stanley both raised their respective oil price forecasts in the latter months of 2017, citing a stronger-than-anticipated OPEC-led commitment to extend production cuts. The cuts, which started in January 2017, are poised to continue through all of 2018 as the allied oil producers seek to clear a global supply overhang.
Meanwhile, U.S. commercial crude inventories have slipped nearly 20 percent from the highs recorded in March last year.
"Shale is not going to be such a bottomless production pit this year," Giles Keating, managing director at the Werthstein Institute, told CNBC on Tuesday.
Keating said that if forecasters predicting further interest rate rises were found to be correct over the next 12 months then this would "really matter" for U.S. shale supply.
The price of oil collapsed from almost $120 a barrel in June 2014 due to weak demand, a strong dollar and booming U.S. shale production. OPEC's reluctance to cut output was also seen as a key reason behind the fall. But, the oil cartel soon moved to curb production — along with other oil producing nations — in late 2016.
— Reuters contributed to this report.