The Fed is expected to cut rates Wednesday, but it is unlikely to tell markets what they want to hear on future rate cuts.Market Insiderread more
The trade war between the United States and China has lasted for more than one year — and a resolution is nowhere in sight.World Economyread more
Pelosi said Trump should not have tried to address China's trade practices in a way that opened Americans up to financial pain.Politicsread more
Here's CNBC review of the Apple Watch Series 5, which makes a step forward with an always-on display and a useful compass that can help you find your way on Apple Maps.Technologyread more
On Sept. 18, Capital One and Walmart announced the launch of the Capital One Walmart Rewards Credit Card Program, which offers two new cobranded credit cards. Here's a break...Moneyread more
TransferWise posted an annual net profit of £10.3 million on revenues of £179 million.Technologyread more
In an apparent setback for Prime Minister Benjamin Netanyahu, exit polls show the Israeli leader has fallen short of securing a parliamentary majority with his hard-line...World Newsread more
President Donald Trump doesn't want war with Iran — but Tehran seems inclined to "test the Trump administration," says Gerald Feierstein, a former U.S. Ambassador to Yemen.Oilread more
Live the high life with a night's stay at Highclere Castle, the iconic stately home made famous by Downton Abbey.Spendread more
Large banking institutions face the risk of failure if interest rates in Europe continue to stay negative, warns the global chief economist of the Economist Intelligence Unit.Banksread more
The fallout from two fatal crashes of Boeing 737 Max planes has ensnared the manufacturer's most-loyal customer: Southwest Airlines. The carrier has canceled thousands of...Airlinesread more
* U.S. crude inventories fell by 5.3 mln barrels- API
* Expectations were for 0.9 mln barrel drop-Reuters poll
* Escalating trade war a risk to oil demand - Bernstein (Adds demand slowdown detail, updates prices)
TOKYO/SINGAPORE, May 30 (Reuters) - Oil prices rose on Thursday after a bigger-than-expected decline in U.S. crude inventories, although concerns that the U.S.-China trade war will trigger an economic downturn kept a lid on gains.
Brent crude futures, the international benchmark for oil prices, were at $69.71 per barrel at 0502 GMT, up 26 cents, or 0.4% from their last close. Brent fell nearly 1% in the previous session.
U.S. West Texas Intermediate (WTI) crude futures were up 40 cents, or 0.7%, at $59.21 a barrel.
U.S. crude inventories fell by 5.3 million barrels in the week to May 24 to 474.4 million barrels, data from industry group, the American Petroleum Institute, showed on Wednesday.
Official data from the Energy Information Administration (EIA) is due on Thursday at 1500 GMT.
Outside the United States, oil prices remain supported by output cuts from the Organization of the Petroleum Exporting Countries (OPEC) and other major producers as well as falling supplies from Iran.
Iranian May crude exports fell to less than half of April levels at around 400,000 barrels per day (bpd), tanker data showed and two industry sources said, after the United States tightened sanctions on Tehran's main source of income.
Many analysts expect the supply cuts to be extended in a meeting next month as OPEC's de-facto leader Saudi Arabia wants to prevent oil prices falling back to levels seen in late 2018 when Brent slumped to $50 per barrel.
Since OPEC and its allies started withholding supply in January, oil prices have risen by about 30 percent.
Preventing prices from rising further are concerns that the trade dispute between the United States and China will trigger a global economic downturn and a slowdown in fuel consumption.
"An escalating U.S.-China trade war represents a risk to oil markets," Bernstein Energy said on Thursday in a note.
"The IEA has lowered their demand estimate for 2019 to 100.4 million barrels per day (1.3% year-on-year) and we see the possibility of further negative demand revisions ahead," Bernstein said. "Under a full-blown trade war scenario, demand growth could be cut in half to 0.7% y-o-y."
Because of weakening demand, Bernstein said "any upside is capped" in oil markets despite relatively tight supply.
(Reporting by Aaron Sheldrick in TOKYO and Henning Gloystein in SINGAPORE; Editing by Joseph Radford and Richard Pullin)