Analysts say the partial U.S.-China trade deal doesn't touch on thorny issues plaguing both sides, and warn talks could break down again.World Economyread more
"The Champagne should probably be kept on ice, at least until the two presidents put pen to paper," said state-owned media China Daily.Traderead more
Economists polled by Reuters had expected Chinese exports denominated in the U.S. dollar to fall by 3% and imports to decline by 5.2% in September, compared to a year ago.China Economyread more
The U.K. and EU are gearing up for what could be the busiest week in British politics since June 2016.Europe Politicsread more
"It seems like what the two leaders have done is try to set some of the thorny political issues to the side," said Dhruva Jaishankar, director of the U.S. Initiative at the...Asia Politicsread more
The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
Beijing will be opening up its financial industry to foreign ownership from January, namely in the areas of futures, mutual funds and securities.China Economyread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
The United States has cleared the final procedural hurdle in order to impose tariffs on billions of dollars of European products later this month.World Economyread more
A technical recession occurs when there are two consecutive quarters of economic contraction.Asia Economyread more
"Deepfakes" are being used to depict people in fake videos they did not actually appear in, and can potentially affect elections, diplomacy and how markets move, experts say.Technologyread more
Oil prices were little changed on Tuesday, weighed by concerns about a global economic slowdown that could dent crude demand, but supported by expectations that OPEC and its allies will extend their supply curbs.
U.S. West Texas Intermediate settled just a penny higher at $53.27. Brent crude, the global benchmark, settled unchanged from Monday's settlement at $62.29 a barrel.
Brent is down 17.5% from its 2019 peak reached in April, while WTI is down 20% over the same period.
Concern about slowing demand and economic growth has had a large impact on sentiment amid a trade war between the United States and China.
The U.S. Energy Information Administration cut its 2019 world oil demand growth forecast by 160,000 barrels per day to 1.22 million bpd.
"The demand outlook is central to the oil market these days," said John Kilduff, an analyst at Again Capital. "The global economic data has been chock full of negative surprises, of late, attributable to the fallout from the U.S.-China trade war."
However, Beijing said it will allow local governments to use proceeds from special bonds as capital for major investment projects, in a bid to support the slowing economy amid an escalating trade war with the United States.
Supporting oil prices on Tuesday was optimism that OPEC and other producers such as Russia would extend an output cut deal that has been in place since the beginning of the year to prop up prices.
The group, known as OPEC+, is due to meet in late June or early July to decide whether to extend the pact.
Russian energy minister Alexander Novak said on Monday there is still a risk that oil producers pump out too much crude and prices fall sharply, suggesting Moscow might support an extension. The comments, along with remarks from Saudi Arabia, bolstered expectations the deal will be renewed.
Russia's average oil output stood at 11.04 million bpd on June 1-10, up from an average of 10.87 million bpd on June 1-3, two sources familiar with official data said on Tuesday. Oil output in the first three days of June was the lowest since mid-2016, according to Reuters calculations.
Market participants await industry data on U.S. crude stockpiles, due out at 4:30 p.m. EDT (2030 GMT), that is expected to show inventories fell 500,000 barrels last week from nearly two-year highs.
Government data is due to be released Wednesday.