Indian billionaire investor Rakesh Jhunjhunwala says he's very upbeat about his country's growth potential after the country underwent a massive banking crisis and the rollout...Asia Economyread more
There's more pain ahead for the U.S. and China amid their bilateral trade dispute, according to one expert.China Politicsread more
Alphabet Inc's Google said Tuesday that keeping phones up to date and secure was in "everyone's best interests," shortly after the U.S. temporarily eased some trade...Technologyread more
You know there's an underlying problem when investment firms start to cut exposure to a particular asset class.Commentaryread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather.Asia Marketsread more
A record 257.4 million travelers are expected to opt for U.S. airlines for travel this summer, the 10th consecutive annual increase, a trade group forecast on Tuesday.Airlinesread more
Huya, a Chinese live streaming platform focused on gaming, is looking to expand into the U.S. in the next couple of years, CEO Rongjie Dong told CNBC. The U.S. is expected to...Technologyread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
Mall owners are increasingly building out food halls with local chef-driven eateries, sushi bars and premium coffee shops.Retailread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
Oil prices rose on Thursday, boosted by the U.S. threat of sanctions on OPEC member Venezuela, but gains were limited by U.S. data showing record high gasoline inventories and a large, unexpected build in crude stockpiles.
Washington signaled it could impose sanctions on Venezuela's crude exports as Caracas descends further into political and economic turmoil.
Venezuela's opposition leader Juan Guaido declared himself interim president on Wednesday, winning backing from Washington and parts of Latin America and prompting socialist Nicolas Maduro, the country's leader since 2013, to break relations with the United States.
"That's the big story of the day for oil," said Phil Flynn, an analyst at Price Futures Group in Chicago. "The market is really concerned about the geopolitical factors and what will happen if there are sanctions on Venezuela."
Venezuelan oil is predominantly heavy crude, which requires extensive refining. It is frequently blended with lighter crudes to give refiners higher-value products.
With Iran already crippled by U.S. sanctions, a drop in Venezuelan exports could squeeze global supply further.
Geneva-based Petro-Logistics said on its website that Iranian crude and condensate exports in December "fell steeply" from November to less than 1 million barrels per day (bpd) due to U.S. sanctions — lower than some other estimates.
The Brent and WTI contract are both backed by light, sweet crude, and are not directly linked to Venezuelan oil.
But concern about the supply of heavy crudes is apparent in the U.S. physical market, where the price for Mars Sour, a medium crude, shot to its highest since early 2011.
Weighing on oil futures, U.S. crude inventories sharply rose by 8 million barrels last week, the Energy Information Administration said on Thursday, versus forecasts of a decline of 42,000 barrels.
Gasoline stocks rose for the eighth straight week to a record 259.7 million barrels, as demand for the motor fuel over the past four weeks fell 0.1 percent from a year ago.
"The report was rather bearish, punctuated by the large crude oil inventory increase," said John Kilduff, partner at Again Capital Management. "Gasoline demand remains anemic."
Worries about the longer-term outlook for global economic growth, and therefore demand for crude, has pressured oil prices.
Persistent concerns about the U.S-China trade war as well as slower world growth forecasts have kept investors wary.