These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Weather & Natural Disastersread more
Gluskin Sheff's David Rosenberg is painting a painful picture for stocks as earnings season goes into full gear.Futures Nowread more
Rossello is facing public furor over an obscenity-laced online chat that showed the governor and his close advisers insulting women and mocking constituents, including victims...Politicsread more
* OPEC, allies extend output curbs until March 2020
* U.S. crude oil inventories fall 5 mln bbls -API
* Morgan Stanley lowers long-term Brent price forecast
* Crude stockpiles down less than expected in week - EIA (New throughout, updates prices, adds EIA data, comments)
NEW YORK, July 3 (Reuters) - Oil prices were steady on Wednesday ahead of a U.S. holiday, after a steep fall the previous session when worries about a slowing global economy outweighed a decision by OPEC and allies to extend crude output cuts.
Prices rose early, then pared most gains after data showed U.S. crude inventories fell by 1.1 million barrels in the latest week, a much smaller decline than the 3 million barrel decrease analysts had expected.
"The market is disappointed by a very small crude oil inventory draw ... the only sign of strength in the market is the continued modest decline of gasoline inventories" said Andrew Lipow, president at Lipow Oil Associates in Houston.
U.S. crude imports rebounded while exports fell sharply from a record 3.8 million barrels per day (bpd) a week earlier, analysts said.
September Brent crude futures were up 65 cents, or 1%, at $63.05 a barrel by 11:57 a.m. ET (1557 GMT).
U.S. crude futures for August delivery were up 24 cents, or 0.4% at $56.49 a barrel. On Tuesday, both benchmarks fell more than 4% on worries about a global economic slowdown.
U.S. gasoline futures led the energy complex, rising about 1.5 percent to $1.8974 a gallon.
"We had a pretty sharp correction yesterday so after that, a little rebound is expected. Globally, the market is concerned about oil demand growth potential," Olivier Jakob of Petromatrix consultancy said.
Trading volumes were subdued ahead of the U.S. Fourth of July holiday on Thursday. Some 450,892 lots of the front-month U.S. crude futures contract were traded, about half of the previous session's volume.
On Tuesday, the Organization of the Petroleum Exporting Countries and other producers such as Russia, a group known as OPEC+, agreed to extend oil supply cuts until March 2020.
"Extending the cut by six or nine months, it doesn't really matter if the level stays the same," Jakob said. "If you (OPEC) really wanted to target stock levels, you would need deeper cuts but Saudi Arabia has already gone beyond its cut target."
The OPEC+ agreement should draw down oil inventories in the second half, boosting oil prices, analysts from Citi Research said in a note.
"Keeping cuts through the end of 1Q aims to avoid putting oil into the market during a seasonal low for demand and refinery runs," they said.
Still, signs of a global economic slowdown hitting oil demand worried investors after global manufacturing indicators disappointed and the United States threatened Europe with more tariffs.
The U.S. trade deficit jumped to a five-month high in May and the ADP National Employment Report showed private payrolls increased far less than economists had expected.
Barclays expects oil demand to grow at its slowest pace since 2011. Morgan Stanley lowered its long-term Brent price forecast to $60 per barrel from $65 per barrel, and said the oil market is broadly balanced.
Crude prices also were pressured by signs of a recovery in oil exports from Venezuela in June and growth in oil production in Argentina in May. (Additional reporting by Julia Payne in London, Jessica Jaganathan in Singapore; Editing by David Gregorio and Susan Fenton)