Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Canadian trade union Unifor said roughly 4,500 of its members have been temporarily laid off because of the GM strike so far.Autosread more
"I really want to encourage competition because I think competition creates innovation, and when you create innovation everyone wins," Humana CEO Bruce Broussard says.Health and Scienceread more
The former top aide of retired United Auto Workers Vice President Joe Ashton, a former member of the GM's board, was charged Friday with conspiracy to commit wire fraud and...Autosread more
Stocks fell to their lows of the day on Friday on news that Chinese trade officials are cutting short their visit to the U.S.US Marketsread more
The wearables company has retained advisors to consider exploring a sale of the business.Technologyread more
Roku shares have more than quadrupled this year, but the stock has had some rocky days of late as more players jump into streaming.Technologyread more
Walmart is the latest to pull back from the industry. Federal regulators said they will soon ban flavored e-cigarettes, while some nations have outlawed the products...Health and Scienceread more
Legal experts say that California, which has pledged to sue, has a strong case that the administration's move is unlawful.Politicsread more
Oil prices look to have climbed to unsustainable levels and could soon start to fall away from multi-year highs, BP's chief financial officer (CFO) told CNBC Tuesday.
Crude futures stood within $1 of highs not seen in more than three years on Tuesday morning, amid a broad price recovery which has helped the resurgence of some of the world's largest oil and gas groups in recent quarters.
"Sometimes people forget that actually, it was not that long ago we were down at $28 a barrel … I think oil prices today feel a bit frothy," Brian Gilvary, CFO at BP, told CNBC's "Squawk Box Europe" Tuesday.
He added the recent uptick in crude futures had most likely been driven by elevated global demand and a stronger-than-expected alliance to OPEC-led production cuts.
The price of oil collapsed from highs of 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 implement output cuts — along with other oil-producing nations — in late 2016.
Alongside Russia and other allied producers, OPEC has spearheaded an ongoing international effort to try to clear a global supply overhang and prop up prices. The agreement, which came into effect in January 2017, has already been extended through until the end of this year — with producers scheduled to meet in June to review policy.
The output controls have widely been viewed as a success, with several major global producers honing in on achieving their original aim of reducing industrialized oil nations' back to their five-year average.
Nonetheless, analysts have warned the energy market is extremely sensitive to any geopolitical developments, especially regarding the outcome of the Iran nuclear deal and sanctions.
In less than two weeks, President Donald Trump must decide whether to continue suspending sanctions against Iran under the current nuclear accord, or restore penalties on one of the world's biggest oil producers.
"Geopolitics is now playing into where the price is and so I think you could see an oil price correction quite comfortably," BP's Gilvary said.
Global benchmark Brent traded 0.3 percent lower at $74.46 during early morning deals Tuesday, while West Texas Intermediate (WTI) stood at $68.43, down around 0.2 percent.