Democrats such as Elizabeth Warren had their eye on business and the working class during the first 2020 presidential primary debate in Miami.2020 Electionsread more
The Chinese Ministry of Commerce maintained a firm stance against the U.S. during a weekly press conference on Thursday, less than two days ahead of a scheduled meeting...China Economyread more
Huawei's legal chief told CNBC that the company makes "solutions for civil use."Technologyread more
The issue over health insurance marked the first stark divide among the candidates, and sparked a heated back-and-forth between many of the candidates on stage.Politicsread more
Four candidates mentioned China — but none of the Democratic contenders brought up trade in the debate.Politicsread more
In a strategy to draw attention away from Wednesday's Democratic debate, President Donald Trump's reelection campaign bought out YouTube's "masthead," the leading...2020 Electionsread more
The stock market is shrinking for several key reasons, but there's a way for investors to maneuver it, says Citi Research strategist Robert Buckland.Trading Nationread more
The Federal Aviation Administration said on Wednesday that is has found an issue with the Boeing 737 Max that the manufacturer must address before it lifts the grounding...Airlinesread more
The collapse of the deal potentially ended Sinclair's hopes of building a national conservative-leaning TV powerhouse that might have rivaled Fox News.Mediaread more
Huawei legal chief Song Liuping told CNBC that the company is in the "early phase" of talks with Verizon over paying royalties.Technologyread more
Virginia Sen. Mark Warner breaks down the idea behind a bipartisan bill he introduced to provide more transparency in Big Tech.Technologyread more
Oil traders have "gone too far" by almost completely pricing in an exact equivalence of current U.S. economic conditions with the depths of the global financial crisis, according to the head of commodities research at Standard Chartered.
Brent and U.S. West Texas Intermediate (WTI) crude futures have fallen almost 20% since reaching their 2019 peaks in late April, dragged lower by intensifying fears of an economic downturn that has started to impact oil consumption.
It comes at a time when energy market participants are increasingly concerned that recent selling has been driven by a spike in oil inventories that could suggest the demand for oil is deteriorating.
The energy market "has priced in an outcome which is far worse than is actually going on. We have priced in something as severe as the immediate post-Lehman figures," Standard Chartered's Paul Horsnell told CNBC's "Squawk Box Europe" on Tuesday.
In a research note published last week, the investment bank said the latest Energy Information Administration (EIA) report continued a run of "extremely weak" data.
The stockpiles report published earlier this month showed a strong build up in crude oil, gasoline stocks and distillates. Increases across the board surprised the market, with crude futures tumbling on the news.
Standard Chartered said the recent run of exceptionally weak oil data should be interpreted as a "Lehman Brothers moment." This refers to the shock collapse of the notorious investment bank about a decade ago which sparked a meltdown across global financial markets.
Standard Chartered publishes its own "bull-bear index," raging from -100 to +100 to measure the direction the market seems to be taking each week.
"Our U.S. oil data bull-bear index registers -96.7, only slightly better than the extreme -100 reading of two weeks ago," the bank said in a research note published Thursday.
"The four-week average of the index is -79.4, taking it far below the five-year range, the bank said, before adding that there hadn't been such a negative four-week run since the immediate aftermath of the Lehman Brothers collapse in 2008.
"I think it also tells us something about the mood of the oil market," Horsnell said Tuesday.
"It's very febrile, it's very worried about demand, it's very likely to both overshoot and undershoot and it will move a long way on actually relatively small headlines and relatively small changes in data," he added.
International benchmark Brent crude traded at $62.51 Tuesday morning, up around 0.3%, while WTI stood at $53.79, nearly 1% higher.
"The recent 20% loss of value in the oil market was mainly driven by stock market sentiment and it came despite serious physical tightness," Tamas Varga, senior analyst at PVM Oil Associates, said in a research note published Tuesday.
"Uncertainty and volatility are set to prevail, and the immediate price outlook remains anything but clear," he added.
Expectations that OPEC and its allies would keep withholding supply when they meet in late June or early July helped oil prices rebound on Tuesday.
The Middle East-dominated group, collectively known as OPEC+, is set to decide whether to keep withholding supplies since the start of the year.
"You have the largest OPEC cut in history with the highest level of compliance ever and, at the same time, you have China increasing inventories radically so those are the speculators. And with that, oil is where it is," Daniel Lacalle, chief economist at Tressis Gestion, told CNBC's "Squawk Box Europe" on Tuesday.