"We are now embarking on a new Long March, and we must start all over again!" Xi Jinping said.Marketsread more
U.S. aviation officials believe a bird strike may have led to the deadly crash of an Ethiopian Airlines Boeing 737 Max in March, according to a person familiar with the...Aerospace & Defenseread more
CNBC's Jim Cramer says Morgan Stanley cutting its worst-case forecast on Tesla so drastically from $97-per-share appears to be a gimmick.Investingread more
The Time's Up Legal Defense Fund, the American Civil Liberties Union and fast-food workers coalition Fight for $15 said Tuesday that they have filed 23 new complaints against...Restaurantsread more
Sales of existing U.S. homes fell 0.4% in April compared with March to a seasonally adjusted annualized rate of 5.19 million units, according to the National Association of...Real Estateread more
The move, which was expected, has set up an early legal test of the president's strategy of fighting off congressional oversight by rejecting the legitimacy of subpoenas he...Politicsread more
"Let me be clear: This committee will hear Mr. McGahn's testimony, even if we have to go to court to secure it," Nadler says.Politicsread more
Morgan Stanley analysts said the reduction was driven by concerns around Chinese demand for Tesla products.Autosread more
The California state Senate is considering legislation that would ban law enforcement's use of facial recognition technology in body cameras.The proposal passed the Assembly...Politicsread more
The Fed should take its cues from falling bond yields and lower short-term interest rates, says conservative economist Art Laffer.Economyread more
Leuthold Group's Jim Paulsen sees a silver lining as the U.S.-China trade war rattles the market.Trading Nationread more
Oil prices slipped on Friday but remained near $70 a barrel as impending U.S. sanctions on Iran and falling Venezuelan output offset concerns over the impact of a global trade war.
Despite Friday's losses, both Brent and U.S. light crude jumped about 2 percent this week after strong gains in the last two sessions. U.S. light crude gained 1.5 percent in August, while Brent was on track for a rise of 4.3 percent.
Some analysts say the uptrend in crude prices will continue.
"Brent prices will exceed $80 per barrel before the end of the year," U.S. bank Jefferies forecast on Friday.
Oil markets are tightening with a recent surplus draining, trade figures show. The volume of unsold crude stored in the Atlantic basin has dwindled from around 30 cargoes to just a handful in recent weeks, a Reuters analysis showed.
"The contracts are in a strong up-trend," said Robin Bieber, who watches price charts for brokerage PVM Oil Associates.
Investors are worried that, with Venezuelan supply falling sharply, Iranian crude supply will be cut sharply ahead of the imposition on U.S. sanctions on Tehran in November.
"The November deadline to comply with the U.S. demands for an Iran oil embargo is moving closer, and in anticipation, buyers seemingly have begun reducing their purchases," said Norbert Ruecker, commodity analyst at Swiss bank Julius Baer.
"Venezuela remains equally concerning," he added.
U.S. President Donald Trump threatened in an interview with Bloomberg News on Thursday to withdraw from the World Trade Organization, his latest salvo in a deepening dispute between the United States and its major trading partners.
Economists are worried that rising trade barriers between the world's major economies will drag on global growth and, by extension, erode energy demand.
"You have to wonder if it (crude) can sustain these prices in a world where President Trump doubles down on his battle with the EU and China at the same time," said Greg McKenna, chief market strategist at futures brokerage AxiTrader.
Trump is prepared to ramp up a dispute with China and has told aides he is ready to impose tariffs on $200 billion more Chinese imports as early as next week, Bloomberg reported on Thursday.
Oil analysts cut their price forecasts for 2018 for the first time in almost a year in August, as concerns about the impact of the global trade war deepen, a Reuters poll shows.
A Reuters survey of 45 economists and analysts forecast Brent would average $72.71 in 2018, 16 cents below the $72.87 projected in July and above the $71.96 average so far this year. The price was forecast to average $72.58 in 2019.
— CNBC's Tom DiChristopher contributed to this report.