"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards will honor the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
U.S. President Donald Trump's national security advisor said on Sunday that White House Asia policy adviser Matt Pottinger would become his top deputy.Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
(Adds comment, charts, updates prices)
TOKYO, Aug 30 (Reuters) - Oil took a breather on Friday after three days of solid gains, but was set for its strongest week since early July, boosted by a decline in U.S inventories and a looming hurricane in Florida, while new signs of trade talks emerged.
Brent crude was down 7 cents, or 0.1%, at $61.01, by 0236 GMT after adding 1% on Thursday. Brent is heading for a gain of nearly 3% this week.
U.S. oil fell 11 cents, or 0.2%, to $56.60 a barrel. The contract is set for a gain of more than 4% this week.
"The frothy price action emphasizes the store that energy markets place on trade progress to support further gains in prices going forward," said Jeffrey Halley, senior market analyst at OANDA.
"What is given, can be taken away though, and the rally looks more like it's running on vapors than petrol," he said.
Worries about a slowdown in economic growth due to the U.S.-China trade war and the flow-on to oil demand kept a lid on price gains, even as falling inventories indicate a balancing market.
However, the United States and China gave signs on Thursday that they will resume trade talks as the two economic superpowers discussed the next round of in-person negotiations in September ahead of a looming deadline for additional U.S. tariffs.
The approach of Hurricane Dorian toward Florida raised fears that offshore U.S. crude producers may slow output if the storm passes into the Gulf of Mexico over the weekend.
Dorian is heading toward landfall on the Atlantic coast of Florida over the weekend and may enter into the eastern Gulf of Mexico next week. It is is forecast to strengthen and become a highly dangerous Category 4 hurricane on Sunday, the National Hurricane Center said.
Chevron Corp's 356,440 barrel-per-day Pascagoula, Mississippi, refinery is closely monitoring the progress of Hurricane Dorian, a company spokesman said on Thursday.
Last month, Hurricane Barry prompted offshore oil companies to shut as much as 74% of production, lifting U.S. crude prices, before it weakened to a tropical storm.
Government data on Wednesday showed U.S. crude stocks dropped last week by 10 million barrels to their lowest since October as imports slowed, while gasoline and distillate stocks each fell by over 2 million barrels.
Inventories at the nation's main delivery hub in Cushing, Oklahoma, where WTI futures are priced, slumped last week by nearly 2 million barrels to their lowest since December, the data showed.
Cushing stocks have dropped by over 300,000 barrels since the government report, traders said, citing market intelligence firm Genscape's midweek report.
(Reporting by Aaron Sheldrick; editing by Richard Pullin)