Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
You can save money by doing a quick check and unsubscribing from apps you no longer use.Technologyread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
* U.S. jobs data feeds hopes for fuel demand
* OPEC+ supply cuts aim to balance market
* U.S. sanctions against Venezuela hit crude exports
* Trump hails trade talk progress but hints at delay
* U.S. oil drillers cut rigs for 4th week in 5 -Baker Hughes (New throughout, updates prices, market activity and comments; adds rig count data)
NEW YORK, Feb 1 (Reuters) - Oil prices rose about 3 percent on Friday, rising on upbeat U.S. jobs data and signs that U.S. sanctions on Venezuelan exports have helped tighten supply, then extending gains after weekly data showed U.S. drillers cut the number of oil rigs.
Brent crude oil futures rose $1.97 a barrel, or 3.2 percent, to $62.81 a barrel by 1:16 p.m. EST (1816 GMT). The international benchmark was on track for a weekly gain of about 2 percent.
U.S. West Texas Intermediate (WTI) futures were at $55.39, up $1.60 a barrel or 3 percent. WTI was headed for a weekly gain of about 3.1 percent.
Prices climbed to session highs after General Electric Co's Baker Hughes energy services firm reported that U.S. energy firms cut the number of oil rigs operating for a fourth week in the past five. Last week's data showed the rig count in January fell the most in a month since April 2016.
Oil prices got a boost from Wall Street after surprisingly strong U.S. job growth data fed demand for equities.
Washington imposed sanctions on Venezuela's Petróleos de Venezuela SA this week, keeping tankers stuck at ports. On Friday, the U.S. Treasury Department provided details.
"We are beginning to see the impact to crude supplies from the sanctions on Venezuela. It has driven up domestic crude prices, cutting into refiner margins," Andrew Lipow, president of Lipow Oil Associates in Houston, said.
"That, combined with Saudi cuts and Libyan production declines has changed market sentiment as we appear to be moving towards a better balanced supply situation."
Some U.S. refiners have begun reducing crude processing as sanctions have boosted oil costs and as gasoline margins crashed to their lowest in nearly a decade, market sources told Reuters on Thursday.
In January, Saudi Arabia pumped 350,000 bpd less than in December, a Reuters survey showed.
Financial markets also gained support from comments on Twitter by U.S. President Donald Trump on Thursday, saying he would meet Chinese President Xi Jinping soon to try to resolve a trade standoff. But Trump later warned he could postpone talks if a deal remains elusive. 1/8nL3N1ZV6YD
China's trade delegation said the latest round of talks with the United States made "important progress," state news agency Xinhua reported.
"Many traders recognize that sense is likely to prevail and a deal will be struck after the summit - although the shape of any deal will continue to drive a jittery market," Cantor Fitzgerald Europe said in a note.
But a survey showed China's factory activity shrank by the most in almost three years in January, reinforcing fears about fuel demand in the world's second-largest economy.
Analysts believe the oil market will be more balanced in 2019 after supply cuts from the Organization of the Petroleum Exporting Countries (OPEC). (Additional reporting by Noah Browning in London, Henning Gloystein in Singapore and Colin Packham in Sydney; Editing by Dale Hudson and David Gregorio)