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☆ This startup is opening a mental health clinic that offers ketamine therapy. We got an exclusive look at the pitch deck it used to raise $5.4 million.
▼ + stars: | 2024-01-25 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +5 min

Read previewVenture investment in mental health startups exploded in 2021. Being Health, an integrated mental healthcare company, is opening its first location, located in Manhattan's Financial District. Services like ketamine infusions and acupuncture will have to be administered in person, but others, like nutrition counseling, will have a virtual option, Sharma said. "When it comes to this novel approach to addressing mental health, you can't do that with telehealth." See the 17-slide pitch deck mental health startup Being Health used to raise $5.4 million in seed funding.

Persons: —, Allie Sharma's, Sharma, Janssen, Haim Dabah, Dabah Organizations: Service, Business, Financial, HDS, FDA, Janssen Pharmaceuticals, Being Health, Services, HDS Capital Locations: New York, New York City

Learn more about the Chase Sapphire Reserve credit card, and other best credit cards for airport lounge access. Here's a look inside the Chase Sapphire Lounge LaGuardia, and why this lounge is particularly impressive for both Chase Sapphire Reserve cardholders and affluent travelers. Only $550-per-year Chase Sapphire Reserve® credit cardholders have unlimited access to US Sapphire Lounges through Priority Pass. The family room at the Chase Sapphire Lounge in LaGuardia is perfect for people traveling with young children. Chase's network of Chase Sapphire Lounges is growing quickly, with prior locations in Boston and Hong Kong and a smaller space called the Chase Sapphire Terrace in Austin.

Persons: LaGuardia, —, Chase, cardholders, Brooklyn, Joseph Leonard, Joe, There's, Chase Chase isn't, John F Organizations: Chase, Chase Sapphire Reserve, Service, New, LaGuardia Airport's, Chase Sapphire, The Club, LaGuardia, Air Canada, American Airlines, JetBlue Airways, Southwest Airlines, United Airlines, Delta Air Lines, Sky Club, Sapphire, Sapphire Reserve, Chase Sapphire Reserve LaGuardia Food, Joe Coffee Company, Spa, Face, New York, Kennedy International Airport, Etihad Airways Locations: New York City, LaGuardia, Manhattan, New, Boston, Hong Kong, Austin

☆ CPI: America’s final inflation report for 2023 just came in
▼ + stars: | 2024-01-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

Economists were expecting the annual overall inflation rate to tick higher, to 3.2% from the 3.1% headline reading the month before, according to FactSet consensus estimates. Despite the acceleration, the annual rate of consumer-level inflation is down considerably from December 2022’s rate of 6.5%; additionally, a closely watched measure of underlying inflation slowed further. In December, core goods prices were flat, an apparent stalling out after six months of declines. Rising shelter costs have kept core services elevated. The central bank has a target inflation rate of 2%, as measured by the Personal Consumption Expenditures price index, which has its latest reading due out later this month.

Persons: “, ” Wendy Edelberg, ” “, ’, Brian Coulton, Fitch, ” Scott Anderson, Jerome Powell, Joe Brusuelas, ” Organizations: New, New York CNN, of Labor Statistics, BLS, The Hamilton Project, Brookings, CNN, Federal, BMO, CPI, PCE, RSM Locations: New York, November’s

☆ Consumer prices rose 0.3% in December, higher than expected, pushing the annual rate to 3.4%
▼ + stars: | 2024-01-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

The consumer price index increased 0.3% for the month, higher than the 0.2% estimate at a time when most economists and policymakers see inflationary pressures easing. Excluding volatile food and energy prices, the so-called core CPI also rose 0.3% for the month and 3.9% from a year ago, compared with respective estimates of 0.3% and 3.8%. On annual basis, shelter costs increased 6.2%, or about two-thirds of the rise in inflation. Food prices increased 0.2% in December, the same as in November. "Certainly, as long as shelter inflation remains stubbornly elevated, the Fed will keep pushing back at the idea of imminent rate cuts."

Persons: Dow Jones, Seema Shah Organizations: Labor Department, Energy, of Labor Statistics, Federal Reserve, Fed, Asset Management Locations: U.S

☆ Dollar gains on yen, bitcoin edges up before expected SEC decision
▼ + stars: | 2024-01-10 | by ( ) www.cnbc.com time to read: +3 min

The SEC was expected to announce later in the day whether it will approve applications from asset managers Ark Investments and 21Shares (ABTC.S) to launch a spot bitcoin ETF. More than a dozen bitcoin ETF applications - including from BlackRock (BLK.N), Fidelity and VanEck - are also pending with the agency. The Consumer Price Index (CPI) due out on Thursday is the next likely driver of dollar direction. It is expected to show that headline inflation rose 0.2% in the month and by 3.2% on an annual basis. Anticipation of a positive SEC decision on ETFs, which is likely to draw billions of dollars in new investments, has boosted bitcoin prices in the past two months.

Persons: Exchange Commission's, Marc Chandler, Chandler, bitcoin, Chris Weston, Ethereum Organizations: Federal Reserve, U.S . Securities, Exchange, SEC, Ark Investments, BlackRock, Fidelity, Institute for Supply Management, Index, Fed, Bank of Japan Locations: U.S, Bannockburn, New York, Japan

☆ Dollar falls as traders focus on data for Fed policy clues
▼ + stars: | 2024-01-08 | by ( ) www.cnbc.com time to read: +2 min

The greenback initially bounced on Friday after data showed that U.S. employers hired 216,000 workers in December, above economists' expectations in a Reuters poll, while average hourly earnings rose 0.4%, which was also above expectations. The U.S. currency then dropped, however, as investors focused on some underlying factors in the jobs report that showed less strength. It declined further after a separate report showed the U.S. services sector slowed considerably in December, with a measure of employment dropping to the lowest level in nearly 3-1/2 years. The release on Thursday of the consumer price inflation report for December will be the main piece of economic data this week. Fed funds futures traders are pricing in rate cuts beginning in March, though the odds of a move that soon have fallen.

Persons: Helen, Raphael Bostic Organizations: Federal Reserve, greenback, Monex USA, New York Fed, Traders, Atlanta Fed Locations: U.S, Washington

☆ Gold posts weekly decline as dollar, yields climb
▼ + stars: | 2024-01-05 | by ( ) www.cnbc.com time to read: +2 min

Spot gold rose 0.1% to $2,044.21 per ounce after falling and then rising by about 1% earlier in the session. "First, the nonfarm payrolls data came in stronger than expected, due to which we saw some pressure applied to gold ... Both the U.S. dollar and 10-year Treasury yields hit their highest levels in three weeks, heading for their best weeks since July and October, respectively. On the physical front, gold buying in major consumer India rose this week, as domestic prices fell back from record highs. Palladium fell 0.9% to a three-week low of $1,027.11 in its ninth consecutive session of declines and was down 6.4% on the week.

Persons: David Meger, Saxo, Ole Hansen Organizations: Singapore Gold, Institute for Supply Management, High, U.S ., U.S . Federal Locations: Singapore, India

☆ Why own Apple stock when there are no near-term catalysts? Here are 3 key reasons
▼ + stars: | 2023-12-31 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

However, the reason Apple is designated an "own it, don't trade" stock is because near-term catalysts are less important than the longer-term trajectory. If 2023 taught us anything it's that the stock market will always surprise you. We think the best approach is to not worry too much about quarterly dynamics, and focus on the longer-term drivers of Apple stock. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Dave You, that's, Siri, it's, you've, Jim Cramer's, Jim, SeongJoon Cho Organizations: Club, Apple, EU, Nvidia, Apple Watch, Services, Apple Care, Jim Cramer's Charitable, CNBC, Apple Inc, Bloomberg, Getty Locations: spurts, India, Hanam, South Korea

The New York Stock Exchange (NYSE) in New York City, U.S., February 24, 2022. "Presently, the markets price in around a 125bp (basis points) cut from the Fed next year," Ipek Ozkardeskaya, senior market analyst at Swissquote Bank, said in a note. Investors will also parse data on U.S. services sector activity from S&P Global and the Institute for Supply Management on Tuesday. ET, Dow e-minis were down 115 points, or 0.32%, S&P 500 e-minis were down 20 points, or 0.44%, and Nasdaq 100 e-minis were down 103 points, or 0.65%. Reporting by Amruta Khandekar and Shristi Achar A; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Caitlin Ochs, Ozkardeskaya, Amruta Khandekar, Pooja Desai Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Fed, Swissquote Bank, Labor Department, P Global, Institute for Supply Management, Nvidia, Dow e, CVS, PDD Holdings, Baidu, Thomson Locations: New York City, U.S

☆ Palazzo Vilòn: Incredible historical mansion opens to overnight guests in Rome
▼ + stars: | 2023-12-04 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +6 min

Featuring multiple suites, all filled with artistic masterpieces, Rome’s 17th-century Palazzo Vilòn is sheer luxury. And now, Palazzo Vilòn can be all yours for 25,000 euros ($26,665) per night if you opt for the “buy-out” offer. Palazzo Vilòn offers a rare chance to travel back to a time when noble families ruled the Eternal City. Today, Palazzo Vilòn is believed to be Italy’s most expensive historical retreat. Despite all the grandeur, Florio stresses that Palazzo Vilòn is not a museum brought back to life.

Persons: CNN — It’s, Vilon, Sala di, Mattia Aquila, Borghese, Vilòn, it’s, –, ”, Palazzo Vilòn, Samuele Florio, Florio, ‘ It’s, Italy won’t, “, It’s Organizations: CNN, Michelin, Mirrors Locations: You’re, Campo Marzio, Europe, Rome, Italy, Vilòn, Italian

The New York Stock Exchange (NYSE) in New York City, U.S., February 24, 2022. Pressuring equities on Monday were higher U.S. Treasury yields, which made returns on stocks less attractive. However, some analysts have cautioned that markets have been too quick to price in lower interest rates. The S&P index recorded eight new 52-week highs and no new lows, while the Nasdaq recorded 46 new highs and 17 new lows. Reporting by Amruta Khandekar and Shristi Achar A; Editing by Anil D'Silva and Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Caitlin Ochs, Jerome Powell, It's, Sam Stovall, Stovall, Santa Claus, advancers, Amruta Khandekar, Anil D'Silva, Pooja Desai Organizations: New York Stock Exchange, REUTERS, Companies Alaska Air, Hawaiian Holdings, Dow, Nasdaq, Federal Reserve, Treasury, Nvidia, Apple, Traders, Research, Alaska Air Group, Dow Jones, Marathon, NYSE, Thomson Locations: New York City, U.S, New York, Santa, Israel, Red

☆ Explainer: GM-owned Cruise's wrong turn could slow robotaxi push
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +3 min

Robotaxis are autonomous self-driving cabs which require no human interaction to operate the vehicle. When did driverless cabs become a reality? Cruise followed with its first driverless ride service last year in San Francisco, and slowly expanded to include Phoenix, Arizona, and Austin, Texas. The use of driverless cabs also raises the prospect of job losses and could attract pushback from unions. Regulatory hurdles facing robotaxisCommercializing fully autonomous vehicles, especially robotaxis, has been harder than expected with tough regulations, complicated technology and heavy investments forcing some to cut jobs.

Persons: Elijah Nouvelage, Cruise, Here's, Waymo, Nathan Gomes, Devika Organizations: San, GM Bolt, REUTERS, General Motors, Companies, Technologies, Amazon.com, Ford, Volkswagen, Argo, Thomson Locations: San Francisco, San Francisco , California, U.S, United States, Phoenix , Arizona, Austin , Texas, Bengaluru

The Labor Department reported Wednesday that its producer price index — which measures inflation before it hits consumers — dropped 0.5% in October from September, the first decline since May and biggest since April 2020. On a year-over-year basis, producer prices rose 1.3% from October 2022, down from 2.2% in September and the smallest gain since July. The year-over-year gain in core producer prices was the smallest since January 2021. The wholesale price of goods fell 1.4% from September to October, pulled down by a 15.3% drop in the price of gasoline. Year-over-year wholesale inflation, for instance, has dropped since hitting 11.7% in March 2022.

Persons: —, Matthew Martin Organizations: WASHINGTON, —, Labor Department, Oxford Economics, CPI Locations: U.S

☆ UK inflation has halved this year but economic growth remains elusive
▼ + stars: | 2023-11-15 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —UK inflation plunged to its lowest level in two years in October, allowing Prime Minister Rishi Sunak to declare victory on his pledge to halve the rate of price increases this year. Services inflation fell but remained high, at 6.6%. “The UK economy is still very much facing stagflation and, in our view, the road ahead will likely continue to be bumpy,” said Julien Lafargue, chief market strategist at Barclays Private Bank. Stagflation refers to a toxic mix of high inflation and low, or no, economic growth. There is also evidence that higher interest rates are placing an increasing strain on the economy.

Persons: Rishi Sunak, “, ” Sunak, Gary Smith, GMB, ”, Andrew Bailey, Alex Veitch, Sunak’s, —, Julien Lafargue, ” Ewan Mackay, Jeremy Hunt, Veitch Organizations: London CNN —, National Statistics, Bank of England, Chambers of Commerce, “, Barclays Private Bank, NatWest, Accenture, P, British Chambers of Commerce Locations: United Kingdom, Ireland, British

HONG KONG (AP) — Asian shares advanced Monday following Wall Street gains last week that were buoyed by hopes for early interest rate cuts. Wall Street steamrolled higher Friday as it closed out its best week in nearly a year. Stock have struggled under the weight of rapidly rising Treasury yields. In the bond market, Treasury yields tumbled just after the jobs report, releasing more of the pressure that had built up on Wall Street. Despite reporting stronger-than-expected profits, Apple, the most influential stock on Wall Street, fell 0.5%.

Persons: ’, Australia’s, Sensex, Stocks, Brent Organizations: Nikkei, Dow Jones Industrial, Nasdaq, Reserve, Expedia Group, Stock, Treasury, Apple, Analysts, New York Mercantile Exchange, U.S Locations: HONG KONG, Gaza City, South, Hong Kong, Shanghai

☆ Asia markets rise ahead of key economic data
▼ + stars: | 2023-11-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Hong Kong Street Scene, Mongkok District with busses Nikada | E+ | Getty ImagesAsia-Pacific markets rose at the end of the week, with investors awaiting a fresh round of data for more clues on the health of services activity through the region. Services purchasing managers' index data from major economies including China, India and Hong Kong are set to be released throughout the day. Futures for Hong Kong's Hang Seng index stood at 17,455, pointing to a higher open compared with the HSI's close of 17,230.59. South Korea's Kospi rose 0.78% at the open, while the Kosdaq was up 0.14%. Japan markets were shut for a public holiday.

Organizations: Getty, Services Locations: Hong, Mongkok District, Asia, Pacific, China, India, Hong Kong, Japan, Australia

☆ Apple shares give investors waiting to buy an opportunity after an uneven quarter
▼ + stars: | 2023-11-02 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

AAPL YTD mountain Apple YTD Apple shares fell more than 3% after the release. Cash and capital allocation In its September quarter, Apple generated operating cash flow and free cash flow results that were lower than what the Street was looking for. Services, a high-margin business for Apple, reached a new all-time revenue record with growth accelerating to 16% on a year-over-year basis. On the call, CEO Tim Cook said Apple "achieved all-time revenue records across App Store, advertising, AppleCare, iCloud, Payment Services and video as well as a September quarter revenue record in Apple Music." Maestri said Apple achieved "all-time revenue records in the Americas, Europe, and rest of Asia-Pacific and a September quarter record in Greater China.

Persons: we've, Cash, we're, Apple, it's, Tim Cook, Maestri, Luca Maestri, Jim Cramer's, Jim Cramer, Jim, Patrick T, Fallon Organizations: Apple, Products, Services, Fortune, MacBook Air, Apple Watch, Management, CNBC, Grove Apple, AFP, Getty Locations: Apple's, Americas, Europe, Asia, Pacific, Greater China, China, Latin America, East, South Asia, India, Los Angeles , California

The second largest contributor to real gross domestic product growth in the third quarter came from business inventories (1.3 percentage points). South Korea's KOSPI-100 equity index, which is usually a good proxy for global trade given its heavy weighting towards export-oriented firms, rebounded strongly through the end of July. But the index has since weakened, consistent with the renewed downturn in volumes shown in the global trade index. UNCERTAINTYUncertainty about the economic outlook and ambiguous data are usually greatest around turning points in the business cycle. Related columns:- Persistent U.S. services inflation dampens oil outlook (October 13, 2023)- U.S. manufacturing rebound will stretch diesel supplies (October 5, 2023)- Global container freight stuck in doldrums (June 23, 2023)- Global freight shows signs of bottoming out (April 27, 2023)John Kemp is a Reuters market analyst.

Persons: Stringer, Korea's, John Kemp, David Evans Organizations: REUTERS, Global, Economic, Service, Real, Ministry of Transport, Treasury, Thomson, Reuters Locations: Qingdao, Shandong province, China, United States, Netherlands, CHINA, ASIA, Singapore, Asia, Europe, Japan, Narita, EUROPE Europe, Ukraine, Germany, doldrums

The other tier comprises mainstream vessels that use Western services for legal oil shipments, including from Russia under the terms of the price cap. In the short term, available ghost vessels could be in particular demand, making chartering them more expensive. Even so, some analysts say removing the price cap could be the way to really punish Russia. But he said that was very unlikely because the price cap at least allows Russian oil to flow, thereby moderating international prices. "The Biden administration is already reeling from higher oil prices compounded by the unrest in Gaza, potentially spreading to a wider Middle Eastern conflict.

Persons: Alexandre Meneghini, Ioannis Papadimitriou, Mike Salthouse, FGE, Vortexa’s Papadimitriou, Richard Bronze, Adi Imsirovic, Biden, Natalie Grover, Robert Harvey, Julia Payne, Andrea Shalal, Barbara Lewis Organizations: REUTERS, Reuters, Maersk, EU, White House, United Arab, Shell, BP, Exxon Mobil, Exxon, U.S, . Treasury, Treasury, Novy Port, Surrey Clean Energy, Thomson Locations: Liberia, Russia, Matanzas, Matanzas , Cuba, Ukraine, United States, Euronav, Turkey, United Arab Emirates, U.S, India, Novy, Gaza, London, Brussels, Washington

☆ Apple subscriptions just got more expensive. Here's how to save money
▼ + stars: | 2023-10-25 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +1 min

Apple raised the price of Apple TV+, Apple One and a number of its other subscription services Wednesday. The monthly price for Apple TV+ jumped from $6.99 to $9.99, and Apple One Premier, the top version of the company's bundle package, increased from $32.95 to $37.95. Here's how to cancel or downgrade your Apple subscriptions if you don't want to pay the price hike:Go to your Settings. Press "Subscriptions." For Apple TV+, press the bar with its name and then click "Cancel Subscription."

Persons: Apple, Kif Leswing Organizations: Apple, Apple TV, Apple One, Services, . Press

☆ China’s GDP allows room for stimulus waiting game
▼ + stars: | 2023-10-18 | by ( Chan Ka Sing | ) www.reuters.com time to read: +3 min

HONG KONG, Oct 18 (Reuters Breakingviews) - For any major economy, 5% growth ought to be respectable. Yet anxiety over the attainability of that official target this year is one reason China's policymakers have faced growing calls from global stakeholders for more stimulus. The country’s GDP has grown 5.2% in the first nine months of this year. The world’s second-biggest economy grew 5.2% in the first nine months of 2023. The Chinese government has set a 5% growth target for this year.

Persons: Una Galani, Thomas Shum Organizations: Reuters, Services, National Bureau, Statistics, Thomson Locations: HONG KONG, Beijing, China

☆ US retail sales rose in September for the sixth-straight month
▼ + stars: | 2023-10-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Retail sales, which are adjusted for seasonality but not inflation, grew 0.7% in September from the prior month. Factoring in September’s 0.4% rise in consumer prices, inflation-adjusted retail sales were up 0.3% last month. From a year earlier, retail sales and food services spending were up 3.8% in September, the strongest annual gain since February. Spending grew across most categories last month, with sales at specialty stores advancing the most, by 3%. Excluding sales at gasoline stations, retail sales still advanced 0.7% last month.

Persons: ”, BIll Adams, ’, Adams, US Energy Information Administration “, Liz Ann Sonders, Charles Schwab, Brian Field, Gregory Daco, ” Daco, Joe Biden, Jordan Organizations: DC CNN, Comerica Bank, headwinds, UAW, United Auto Workers, US Energy Information Administration, Hamas, University of, San Francisco Fed, “ Retail, CNN, Employers, Sensormatic Solutions, Services, OPEC Locations: Washington, Israel, Iran

☆ Remnants of Typhoon Koinu bring floods to Hong Kong
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

A woman struggles with an umbrella while walking against strong wind, as Typhoon Koinu approaches, in Hong Kong, China October 8, 2023. REUTERS/Tyrone Siu Acquire Licensing RightsHONG KONG, Oct 9 (Reuters) - Hong Kong saw heavy flooding on Monday as the remnants of Typhoon Koinu brought heavy rains and strong gales, with many areas inundated with water just a month after the city was paralysed by record-breaking rainfall. Koinu had weakened into a severe tropical storm but still brought gale-force winds and heavy rain, the city's Observatory said. It is due to reopen in the afternoon as strong winds are expected to ease later in the day. Reporting by Farah Master in Hong Kong and Liz Lee in Beijing; Editing by Stephen Coates and Lincoln Feast.

Persons: Koinu, Tyrone Siu, Typhoon Koinu, Farah Master, Liz Lee, Stephen Coates Organizations: REUTERS, Tyrone, city's, . Schools, RTHK, Express, Services, MTR, China Meteorological Administration, Thomson Locations: Hong Kong, China, HONG KONG, China's, Guangdong, Hong, Taishan, Zhuhai, Hainan, Fujian, Beijing, Lincoln

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. "The worst week for crude since March is starting to attract buyers given the oil market will still remain tight over the short-term," Moya said. "We think that once markets start paying attention to falling global oil stockpiles, Brent oil futures will likely creep back up above $US90/bbl," the Commonwealth Bank of Australia said in a note on Friday. U.S. government data this week showed a sharp decline in U.S. gasoline demand, with economic data showing the U.S. services sector had slowed. "The non-farm payroll data tonight, the US CPI, and China's economic data next week will be key to steering oil's movements.

Persons: Agustin Marcarian, Brent, Bond, Edward Moya, Moya, Tina Teng, Sudarshan Varadhan, Sonali Paul, Stephen Coates Organizations: REUTERS, Rights, U.S, West Texas, JPMorgan, National Australia Bank, Commonwealth Bank of Australia, CPI, CMC Markets, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Rights SINGAPORE, U.S, United States

SINGAPORE, Oct 5 (Reuters) - Oil prices inched up on Thursday, clawing back some of the previous session's big losses after an OPEC+ panel maintained oil output cuts to keep supply tight, though an uncertain demand outlook capped gains. Brent crude oil futures were 63 cents higher at $86.44 a barrel at 0335 GMT, while U.S. West Texas Intermediate crude (WTI) rose 49 cents to $84.71. The latest data also showed a sharp decline in U.S. gasoline demand. Finished motor gasoline supplied, a proxy for demand, fell last week to about 8 million bpd, its lowest since the start of this year, the U.S. Energy Information Administration (EIA) reported on Wednesday. Oil prices will struggle to push higher given the more uncertain demand outlook, along with weaker U.S. economic data released on Wednesday and a significant build in gasoline inventories, he added.

Persons: clawing, Jun Rong, Katya Golubkova, Sonali Paul, Jamie Freed Organizations: Brent, U.S, West Texas, of, Petroleum, National Australia Bank, U.S . Energy Information Administration, IG, Thomson Locations: SINGAPORE, OPEC, Russia, Saudi Arabia, U.S, Tokyo, Singapore

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