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U.S. West Texas Intermediate (WTI) crude fell 97 cents, or 1.3%, to settle at $71.86. A stronger dollar can weigh on oil demand by making the fuel more expensive for holders of other currencies. High interest rates boost borrowing costs, which can slow the economy and reduce oil demand. The strength of April U.S. economic data in addition to optimism about the debt ceiling negotiations have strengthened market expectations of a further hike, ANZ Research said in a note on Thursday. Another factor that could reduce oil demand was a fire in Mexico at the Salina Cruz refinery owned by Mexican state oil company Pemex.

SummarySummary Companies Biden, McCarthy push forward towards deal on US debt ceilingU.S. rate hike prospect weighs on oil pricesMay 18 (Reuters) - Oil prices fell in early Asian trade on Thursday as traders warily watched for signs of progress on talks to raise the U.S. debt ceiling, after surging nearly 3% in the previous session on optimism over U.S. fuel demand. President Joe Biden and top U.S. congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal soon to raise the federal government's $31.4 trillion debt ceiling and avoid an economically catastrophic default. On Thursday, investors were "awaiting further evidence that a deal will happen soon," said Edward Moya, an analyst at OANDA. Also weighing on prices was the increased probability of an interest rate hike by the U.S. Federal Reserve. After a months-long standoff, Biden and McCarthy on Tuesday agreed to negotiate directly.

☆ Oil prices ease on caution over U.S. debt ceiling talks
▼ + stars: | 2023-05-18 | by ( ) www.cnbc.com time to read: +1 min

Oil prices fell in early Asian trade on Thursday as traders warily watched for signs of progress on talks to raise the U.S. debt ceiling, after surging nearly 3% in the previous session on optimism over U.S. fuel demand. President Joe Biden and top U.S. congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal soon to raise the federal government's $31.4 trillion debt ceiling and avoid an economically catastrophic default. "Crude needs a clear signal that the U.S. economy will avoid economic catastrophe or that China's recovery is picking up steam," he said. Also weighing on prices was the increased probability of an interest rate hike by the U.S. Federal Reserve. The strength of April economic data in the U.S., in addition to improving optimism about the debt ceiling negotiations and the health of regional banking stocks overnight have strengthened market expectations of a further hike, ANZ Research said in a note on Thursday.

U.S. West Texas Intermediate crude edged down 2 cents to $70.84 as of 0222 GMT. "Crude prices remain heavy as energy traders just can't shake off global demand concerns. U.S. crude stockpiles rose by about 3.6 million barrels in the week ended May 12, according to market sources citing American Petroleum Institute figures. U.S. government data on crude and product stockpiles is due at 1430 GMT. The U.S. Treasury Department has estimated that the United States will go into a crippling default as early as June 1 if Congress does not lift the debt ceiling.

☆ Oil dips on demand worries after unexpected U.S. crude build
▼ + stars: | 2023-05-17 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

Brent crude futures was 29 cents lower, or down by 0.4%, to $74.60 a barrel. U.S. West Texas Intermediate crude edged down by 32 cents, also 0.4% down, to $70.55, as of 0005 GMT. Right now too much oil is still available," Edward Moya, senior market analyst at OANDA, said in a note. The U.S. Treasury Department has estimated that the United States will go into a crippling default as early as June 1 if Congress does not lift the debt ceiling. Oil prices fell even as the International Energy Agency raised its forecast for global oil demand this year by 200,000 barrels per day (bpd) to a record 102 million bpd.

TOKYO, May 9 (Reuters) - Oil prices fell on Tuesday, relinquishing some of the strong gains in the previous two sessions while the market remained cautious ahead of U.S. inflation figures for April, which will be key to the Federal Reserve's next interest rate decision. "Oil prices have rebounded somewhat in the last two sessions, so now is time for a pause ... with no real positive data coming out," said Suvro Sarkar, lead energy analyst at DBS Bank. "The market is cautious today ahead of the inflation data.... With net long positions declining sharply over the last two weeks, a lot of traders are already out of the market, so volumes are low." While oil markets fell sharply last week, prices rose on Friday and Monday as fears of recession eased in the U.S., the world's biggest oil consumer, and some traders saw crude's three-week slide on demand worries as overdone. "Oil prices won't be able to rise that much from here given all the growth demand fears, but expectations are high for OPEC+ to try to keep prices above the $70 a barrel level," Moya's note said.

☆ Oil prices dip in cautious trade ahead of U.S. inflation data
▼ + stars: | 2023-05-09 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

TOKYO, May 9 (Reuters) - Oil prices fell in early trade on Tuesday, paring strong gains from the previous two sessions as markets remain cautious ahead of U.S. inflation figures for April which will be key to the Federal Reserve's next interest rate decision. Markets are awaiting U.S. consumer price inflation figures for April due on Wednesday to provide some indication on the U.S. central bank's next rate decision. U.S. consumers said last month they expected slightly lower inflation in a year's time, a report showed on Monday. While oil markets fell sharply last week, prices rose on Friday and Monday as fears of recession in the U.S., the world's biggest oil consumer, eased and some traders saw crude's three-week slide on demand worries as overdone. "Oil prices won't be able to rise that much from here given all the growth demand fears, but expectations are high for OPEC+ to try to keep prices above the $70 a barrel level," Moya's note said.

☆ Stocks are set for more volatility as the 'unlucky 13' months of strong job growth complicates the Fed's mission to cool the economy
▼ + stars: | 2023-05-06 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

A blowout jobs report and could make the Fed's job of tamping down inflation harder. The April US jobs report showed nonfarm payrolls grew by of 253,000 and a fall in the unemployment rate to 3.4%. Wages are key to the Fed's inflation outlook, and April brought a 0.5% rise in average hourly pay – the biggest monthly increase in a year. "This is a market that's really going to struggle. "It's too early to assess the likelihood of an additional Fed rate hike in mid-June, but this latest jobs report will push the excessively data-dependent Fed towards further tightening – a mistake in our view."

☆ FIFA confident of agreement on Women's World Cup TV rights
▼ + stars: | 2023-05-06 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, May 6 (Reuters) - FIFA secretary general Fatma Samoura is confident the global governing body's threat of a Women's World Cup TV blackout in Europe this year will bring broadcasters to the table with improved offers for the rights. Some 1.12 billion viewers tuned into the 2019 World Cup in France across all platforms, according to a FIFA audit of the tournament. Infantino said broadcasters had offered only $1 million-$10 million for the rights for this year's tournament in Australia and New Zealand, compared to $100 million-$200 million for the men's World Cup. Former FIFA Council member Moya Dodd said this week that the governing body had itself devalued the rights of the Women's World Cup by historically bundling them with those of the men's tournament. The ninth Women's World Cup kicks off in Sydney and Auckland on July 20.

Since Friday, however, Brent has dropped more than 9% and earlier on Thursday fell to as low as $71.28. Prices have plunged this week amid signs of weak manufacturing growth in China, the world's largest oil importer, and after the U.S., the world's biggest oil user, raised interest rates to their highest since 2007 on Wednesday, which threatens future economic growth there. "Oil is starting to find some support as all the bad supply and demand news has been priced in," said Edward Moya, an analyst at OANDA. The collapse of the third U.S. bank since March, spurred by their inability to manage rising interest rates, has also weighed overall financial markets. Investors are also awaiting developments from the European Central Bank, which is set to raise interest rates for the seventh meeting in a row on Thursday.

☆ Banking crisis: Why markets are still freaking out about banks
▼ + stars: | 2023-05-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Similarly, southeastern regional bank First Horizon was teetering, having scrapped a $13 billion merger with Canada’s TD bank. That market pessimism was echoed by Bill Ackman, the billionaire investor, who tweeted Thursday that regional banks broadly are in trouble. Without a miracle from DC, the outlook for regional banks is not great. There is so much pessimism percolating on Wall Street, smaller banks are going to get crushed. That means we can expect more bank failures, and more Wall Street panic, in the weeks and months ahead.

☆ FIFA responsible for undervaluing Women's World Cup, says Dodd
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

May 3 (Reuters) - Former FIFA Council member Moya Dodd has criticised Gianni Infantino's threat of a Women's World Cup broadcast blackout in Europe this year and said the governing body is responsible for the tournament being historically undervalued. Dodd, an ex-Australia international, said the broadcast industry had undervalued the women's tournament as FIFA had sold the rights together with the men's. "Effectively, the industry was trained to pay big money for the men's World Cup and treat the women's equivalent as worthless. "If in fact the Women's World Cup gets 50-60% of the viewers of the men's, as FIFA says, that should amount to a sum in the billions," she added. The Women's World Cup will be held from July 20-Aug. 20 in Australia and New Zealand.

☆ Dollar dips as job openings fall, Fed meeting in focus
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: +3 min

The dollar fell Tuesday after data showed that U.S. job openings fell in March, a day before the Federal Reserve is expected to hike interest rates by an additional 25 basis points. The dollar index fell 0.22% to 101.93 after earlier reaching 102.40, the highest since April 11. The single currency has risen since mid-March on expectations that the interest rate differential with the U.S. dollar will continue to shrink. The Aussie dollar rose 0.51% to $0.6664, after earlier getting to $0.6717, the highest since April 21. The dollar fell 0.56% to 136.67 yen, after earlier hitting 137.78, the highest since March 8.

☆ Oil slumps 5% to five-week low amid US debt default fears
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: +2 min

Oil prices sank about 5% to a five-week low on Tuesday on concerns about the economy as U.S. politicians discuss ways to avoid a debt default and investors prepare for more rate hikes this week. Oil prices and Wall Street's main indexes both fell after U.S. Treasury Secretary Janet Yellen said the government could run out of money within a month. Later this week, investors will look for market direction from expected interest rate hikes by central banks still fighting inflation. Concerns about diesel demand in recent months, meanwhile, has pressured U.S. heating oil futures to their lowest level since December 2021. Over the weekend, data from China, the world's top crude importer, showed manufacturing activity fell unexpectedly in April.

China's manufacturing activity unexpectedly fell in April, official data showed on Sunday, the first contraction since December in the manufacturing purchasing managers' index. China is expected to be the biggest factor driving oil demand growth this year, he added. The U.S. Federal Reserve, which meets on May 2-3, is expected to increase interest rates by another 25 basis points. The U.S. dollar rose against a basket of currencies, making oil more expensive for other currency holders. Oil prices drew some support from U.S. manufacturing activity pulling off a three-year low in April, as new orders improved slightly and employment rebounded.

A Texas gunman who was being sought in connection with the fatal shooting of five people on Friday night after a neighbor asked him to stop firing his weapon remained at large, the authorities said on Sunday. The gunman, Francisco Oropesa, 38, refused a request by the neighbor to stop shooting because the noise was keeping his baby awake. Instead, the authorities said, Mr. Oropesa retrieved an AR-15 and opened fire at his neighbor’s home in Cleveland, Texas. Mr. Oropesa, officials said, shot several members of the same family. At a news conference on Sunday, the authorities said that more than 200 law enforcement officers were looking for Mr. Oropesa and that they had no leads regarding his whereabouts.

☆ Oil prices rebound after recession fear, Russia exports fuelled earlier losses
▼ + stars: | 2023-04-27 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

TOKYO, April 27 (Reuters) - Oil prices rose on Thursday, paring earlier losses that were fuelled by U.S. recession fear and increased Russian oil exports dulling the impact of OPEC production cuts. "Crude oil slumped, as prospects of weaker economic growth offset a bullish inventory report," ANZ Research said in a client note. "The market is also questioning the validity of OPEC's recent production cut amid strong exports of Russian crude." Energy Information Administration (EIA) data showed U.S. crude inventories fell last week by 5.1 million barrels to 460.9 million barrels, far exceeding analysts' average forecast of a 1.5 million drop in a Reuters poll. Oil loading from Russia's western ports in April will be the highest since 2019, above 2.4 million barrels per day, despite Moscow's pledge to cut output, sources have said.

☆ Oil prices rebound after recession fear, Russia exports fueled earlier losses
▼ + stars: | 2023-04-27 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose on Thursday, paring earlier losses that were fueled by U.S. recession fear and increased Russian oil exports dulling the impact of OPEC production cuts. "Crude oil slumped, as prospects of weaker economic growth offset a bullish inventory report," ANZ Research said in a client note. "The market is also questioning the validity of OPEC's recent production cut amid strong exports of Russian crude." Energy Information Administration data showed U.S. crude inventories fell last week by 5.1 million barrels to 460.9 million barrels, far exceeding analysts' average forecast of a 1.5 million drop in a Reuters poll. Oil loading from Russia's western ports in April will be the highest since 2019, above 2.4 million barrels per day, despite Moscow's pledge to cut output, sources have said.

☆ Oil prices fall as strengthening dollar prompts weak demand concern
▼ + stars: | 2023-04-20 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

TOKYO, April 20 (Reuters) - Oil prices fell on Thursday as muted U.S. economic data and expectations of interest rate hikes pushed up the U.S. dollar, prompting fear of a stronger dollar hurting global oil demand by making it more expensive. West Texas Intermediate crude (WTI) for May delivery lost 28 cents, or 0.35%, to trade at $78.88 at 0005 GMT. "This unsettled markets, magnifying recent concerns that monetary tightening has weakened demand for oil. , , ,The crude stockpile decline was far steeper than analysts' estimate of 1.1 million barrels, and the American Petroleum Institute's estimates late on Tuesday of 2.7 million barrels. "WTI crude is back below the $80 level and it could continue drifting lower if the strong dollar trade resumes," Edward Moya, senior market analyst at OANDA, said in a client note.

☆ More people with Down syndrome are living longer, but medical systems aren’t keeping up
▼ + stars: | 2023-04-18 | by ( Tony Leys | ) edition.cnn.com time to read: +12 min

Marilyn researched online and learned the University of Kansas Health System has a special medical clinic for adults with Down syndrome. The clinic Marilyn found is in Kansas City, Kansas, 80 miles northwest of the family’s cattle farm in central Missouri. A directory published by the Global Down Syndrome Foundation lists just 15 medical programs nationwide that are housed outside of children’s hospitals and that accept Down syndrome patients who are 30 or older. But she has felt treated like a child by other health care providers, who have spoken to her parents instead of to her during appointments. Advocates and clinicians say it’s crucial for health care providers to communicate as much as possible with patients who have disabilities.

The S&P 500 finished little changed Tuesday as traders digested a slew of earnings reports and their implications for the U.S. economy. Major benchmarks fluctuated as investors assessed the latest batch of key earnings reports. Despite a tough economic environment, Bank of America surpassed first-quarter expectations on the top and bottom lines as rates rose. Despite Tuesday's moves, and expectations for declining profits against a backdrop of persistent inflation and rising interest rates, earnings season has so far proven resilient. Earnings season presses on after the bell with results from United Airlines and streaming giant Netflix .

☆ Oil inches up on tightening supply, IEA demand outlook to come
▼ + stars: | 2023-04-14 | by ( Andrew Hayley | ) www.reuters.com time to read: +2 min

BEIJING, April 14 (Reuters) - Oil prices rose in early Asian trade on Friday, after falling 1% in the previous session, as the market weighed supportive supply conditions ahead of the International Energy Agency's monthly demand outlook. A tighter supply outlook due to lower expected production in Russia supported prices. On the demand side, investor attention is focused on the IEA's monthly oil market report to be released later in the day, with the possibility the agency might downgrade the global demand outlook over faltering macroeconomic growth. The weakening greenback makes dollar-denominated oil cheaper for investors holding other currencies, boosting demand. "It looks like the rally in crude prices has finally hit a wall," OANDA analyst Edward Moya said in a note.

☆ Oil climbs on tightening supply; IEA demand outlook awaited
▼ + stars: | 2023-04-14 | by ( ) www.cnbc.com time to read: +3 min

An oil pumpjack in the Inglewood Oil Field, seen from the Kenneth Hahn State Recreation Area, on July 13, 2022, in Los Angeles, California. Oil prices rose on Friday on signs of lower Russian output and tighter supplies, with the market looking ahead to the International Energy Agency's monthly report later in the day to clarify the global demand outlook. The possibility that the agency might downgrade the global demand outlook over faltering macroeconomic growth is helping to cap prices. "It looks like the rally in crude prices has finally hit a wall," OANDA analyst Edward Moya said in a note. Oil prices are expected to record an upward trend but the increments are expected to be capped at $90 a barrel, said CMC Markets analyst Leon Li.

☆ Dollar, stocks slip after Fed minutes spur recession fears
▼ + stars: | 2023-04-12 | by ( Herbert Lash | ) www.reuters.com time to read: +6 min

Fed staff assessing the potential fallout of banking stress projected a "mild recession" later this year. But the minutes showed policymakers ultimately agreed to higher interest rates as data at the time showed few signs of inflation pressures abating. Money markets initially trimmed expectations for a Fed rate hike in May, pricing in a 65.2% chance of a 25-basis-point move, CME Group's FedWatch Tool showed. MSCI's gauge of stocks across the globe (.MIWD00000PUS) closed down 0.08%, while the pan-European STOXX 600 index (.STOXX) rose 0.13%. The dollar fell with an index measuring the U.S. currency against six peers down 0.558%.

☆ Stock futures tick lower as investors weigh recession risk: Live updates
▼ + stars: | 2023-04-12 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Signage outside the New York Stock Exchange (NYSE) in New York, US on Thursday, March 23, 2023. Wall Street futures were little changed on Wednesday evening, as investors weighed recession risk following the latest meeting minutes from the Federal Reserve. Futures linked to the Dow Jones Industrial Average were 60 points lower, or 0.2%, while Nasdaq 100 futures inched down 0.1%. The CPI advanced 0.1% month over month in March, and 5% from the prior year. Traders' sentiment turned in the afternoon following the release of minutes from the March Federal Open Market Committee meeting.

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