The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sector this year, spiked on Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The subpoeana from Manhattan District Attorney's Cyrus Vance Jr.'s , for President Donald Trump's tax returns, was issued last month to Trump's accounting firm, Mazars.Politicsread more
While the UAW has rejected the offer and sent roughly 48,000 of its workers out on strike, the EV truck is widely expected to remain part of an eventual settlement.Autosread more
While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
The new chief of the Federal Aviation Administration says he plans to test out Boeing's software changes to the 737 Max in a simulator.Airlinesread more
* Brent crude posts first weekly loss in five
* China to exempt U.S. pork, soybeans from additional tariffs
* IEA, OPEC see oil surplus in 2020
* U.S. oil drillers cut rigs for 4th week in a row -Baker Hughes (Updates with settlement prices, adds commentary)
NEW YORK, Sept 13 (Reuters) - Oil prices edged lower on Friday and posted weekly losses, as concerns about slowed global economic growth outweighed hints of progress in the U.S.-China trade dispute.
Brent crude futures fell 16 cents to settle at $60.22 a barrel. U.S. West Texas Intermediate (WTI) crude futures delivery fell 24 cents to end at $54.85 a barrel.
Brent fell 2.1% for the week, its first decrease in five weeks. WTI lost about 3% loss for the week, its first decrease in three weeks.
The world's two largest economies are preparing for new talks and have been making conciliatory gestures ahead of the discussions.
China will exempt some agricultural products from additional tariffs on U.S. goods, China's official Xinhua News Agency said.
Oil prices, however, remained under pressure by concern about a weaker demand outlook that could lead to potential oversupply.
"Oil appears to be suggesting that global economic growth has already been impacted by the tariffs while other markets such as the equities appear more focused on future progress," Jim Ritterbusch, president of Ritterbusch and Associates, said in a note.
Both the Organization of the Petroleum Exporting Countries and the International Energy Agency (IEA) this week said oil markets could end up in surplus next year, despite a pact by OPEC and its allies to limit supplies. That is largely being offset by growth in U.S. production.
U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row, cutting five oil rigs this week and bringing the total count down to 733, the lowest since November 2017, General Electric Co's Baker Hughes energy services firm said. <RIG-OL-USA-BHI>
Brent prices have risen about 12% so far in 2019, helped by the deal between OPEC and allies, known as OPEC+, to cut output by 1.2 million barrels per day.
An OPEC+ monitoring committee met this week and secured pledges from OPEC members Nigeria and Iraq to deliver their share of the cut, something they have failed to do so far, but so far the group has not decided to deepen the curbs.
Some OPEC delegates say the idea of a larger cut for next year is gaining support, though Saudi Arabia's new energy minister said talks on that issue would be left until the next OPEC+ meeting in December.
But "if the U.S.-China trade deal is sealed, they may have to raise production, not cut," said Phil Flynn, an analyst at Price Futures Group in Chicago, in a note.
(Additional reporting by Alex Lawler in London and Aaron Sheldrick in Tokyo; Editing by Marguerita Choy and Chizu Nomiyama)