Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Bank of England Governor Mark Carney says trade war has a confidence effect on business around the worldMarketsread more
* Brent, WTI rebound more than $1/bbl
* Weaker U.S. dollar, talk of more producer action lend support
* U.S. crude stockpiles unexpectedly rose last week -EIA
SINGAPORE, Aug 8 (Reuters) - Oil futures jumped more than $1 a barrel on Thursday amid a weaker dollar, recovering ground after concerns that a global economic slowdown would hurt crude demand sparked losses of over 4% in the previous session.
Brent crude had rebounded to $57.52 a barrel, up $1.29, or 2.29%, from its last close by 0032 GMT, while U.S. crude futures jumped $1.30, or 2.54%, to $52.39 a barrel.
Both contracts hit their lowest levels since January on Wednesday after a surprise build in U.S. crude inventories added to worries that the brewing Sino-U.S. trade war could further dampen demand-growth this year.
"The U.S. dollar is losing some steam and easing some of the pressure on oil prices," said Alfonso Esparza, a Toronto-based senior market analyst at Oanda.
Talk of more action to prop up oil markets from Saudi Arabia and other producers in the Organization of the Petroleum Exporting Countries (OPEC) also supported crude prices.
Bloomberg in a report on Wednesday cited a Saudi official saying that the world's top exporter is in talks with other producers to take action to halt the oil price slide.
"Trade war rhetoric will continue to guide markets, but the comments from Saudi Arabia could lead to unprecedented action to stabilise prices," Esparza said.
"It is hard to imagine what that would look like given how hard it was to get the OPEC+ to agree to the production limit agreement, but given the potential free fall from crude if the trade war continues, no option is off the table." (Reporting by Florence Tan; Editing by Joseph Radford)