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LAUNCESTON, Australia, Nov 21 (Reuters) - A surge of diesel and gasoline exports from China in the last northern winter eased then-prevailing fuel shortages in Asia but a repeat performance this year is unlikely. Diesel exports peaked at 2.39 million metric tons in January this year, before dropping to just 290,000 by June, according to official customs data. Since then they have eased back, dropping to 1.18 million metric tons in September and 1.11 million in October. November exports are expected to less than 700,000 metric tons, according to an estimate by LSEG based on ship-tracking and port data. Shipments this month are likely to be around 600,000 metric tons, according to LSEG, which would be the weakest month this year.

Persons: LSEG, Kpler, Robert Birsel Organizations: Diesel, LSEG, Reuters, Thomson Locations: LAUNCESTON, Australia, China, Asia, Russia, Ukraine, Beijing, Singapore, Europe

Ministers from OPEC+, which groups the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, meet on Sunday in Vienna. Robust global oil prices this year and Moscow's growing use of a shadow tanker fleet have meant that much Russian oil has traded mostly above the Western oil cap price. Moscow-based independent oil analyst Alexei Kokin said the oil prices declined from "very comfortable" levels to "just comfortable" levels. Russia has budgeted the price of Urals, its flagship oil grade, at 4,788 roubles ($53.36) per barrel this year. However, the share of energy sales in the federal budget proceeds - which used to exceed 50% of total budget revenue - has drastically declined.

Persons: Alexander Manzyuk, Vladimir Putin, Alexei Kokin, Ronald Smith, Vladimir Soldatkin, Guy Faulconbridge, Jason Neely Organizations: REUTERS, Energy, OPEC, Organization of, Petroleum, BCS, Investments, Brent, Thomson Locations: Republic of Tatarstan, Russia, MOSCOW, Vienna, OPEC, U.S, China, Saudi Arabia, United States, Moscow

TOKYO (AP) — Asian shares traded mixed Tuesday after a rally on Wall Street that was led by gains in Microsoft following its announcement that it was hiring Sam Altman, former CEO of OpenAI, the ChatGPT maker. On Wall Street, the S&P 500 gained 0.7% to 4,547.38, coming off its third straight winning week. Microsoft said it will also continue its partnership with OpenAI, as fervor around artificial-intelligence technology and the huge profits it’s expected to create wow Wall Street. This week is relatively light on reports that could sway the hopes on Wall Street that have underpinned that drop in Treasury yields. In energy trading, benchmark U.S. crude fell 61 cents to $77.22 per barrel in electronic trading on the New York Mercantile Exchange.

Persons: Sam Altman, Seng, ” Tan Boon Heng, Australia's, Kospi, Lowe’s, Brent, Stan Choe Organizations: TOKYO, Microsoft, OpenAI, Mizuho Bank, Dow Jones, Nasdaq, Federal Reserve, Traders, Nvidia, Deere, HP, Treasury, New York Mercantile Exchange, U.S ., AP Locations: Shanghai, Beijing, U.S

[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Closely watched U.S. treasury yields slipped after auction, while global oil futures gained $2 on the prospect of supply cuts. Europe's benchmark STOXX index (.STOXX) inched up 0.1%, with energy stocks (.SXEP) leading gains. The healthcare sector (.SXDP) fell after shares in Bayer (BAYGn.DE) dropped to their lowest in 14 years. The dollar index fell to 103.26, its weakest since the start of September, as investors appeared to solidify bets that the Fed could start cutting interest rates next year.

Persons: Brendan McDermid, Dow Jones, Quincy Krosby, Krosby, Ricardo Evangelista, Goldman Sachs, Moody's, Brent, Chris Prentice, Wayne Cole, Lawrence White, Lincoln, Susan Fenton, Will Dunham, Sharon Singleton, Andrew Heavens Organizations: New York Stock Exchange, REUTERS, Nvidia, U.S, Bayer, Nasdaq, Microsoft, Nikkei, Trading, LPL, Tech, European Central Bank, NAB, Thomson Locations: New York City, U.S, SYDNEY, Thursday's U.S, United States, Europe, Italy, New York, Sydney, London

☆ Brent crude futures climb over 2% to gain $2
▼ + stars: | 2023-11-20 | by ( Erwin Seba | ) www.reuters.com time to read: +3 min

Brent crude futures were up $2.00 to $82.61 a barrel by 9:39 a.m. CDT (1539 GMT). Oil prices have dropped by almost 20% since late September while prompt inter-month spreads for Brent and WTI slipped into contango last week. "If additional cuts are agreed, a short-term price boost is expected, but its longer-term price impact seems dubious as enforcement and adherence will be the salient issue." Investors are also keeping an eye on Russian crude oil trade after Washington imposed sanctions on three ships that have sent Sokol crude to India. The number of oil and gas rigs operated by U.S. companies rose last week, the first gain in three weeks, energy services business Baker Hughes said on Friday.

Persons: Leonhard Foeger, WTI, Tamas Varga, Sokol, Baker Hughes, Erwin Seba, Paul Carsten, Florence Tan, Emily Chow, David Goodman, Ed Osmond Organizations: REUTERS, Brent, . West Texas, Reuters, of, Petroleum, Moscow, IIR Energy, Thomson Locations: Vienna, Austria, HOUSTON, Russia, Brent, Washington, India, U.S, East, Gaza, Houston

Oil prices have dropped by almost 20% since late September while prompt inter-month spreads for Brent and WTI slipped into contango last week. "In light of last week's obliteration of oil bulls, some kind of response was forthcoming from the (OPEC) producer group," said Tamas Varga of oil broker PVM. Investors are also keeping an eye on Russian crude oil trade after Washington imposed sanctions on three ships that have sent Sokol crude to India. U.S. energy companies last week added oil and gas rigs for the first time in three weeks, energy services business Baker Hughes said on Friday. The oil and gas rig count serves as an early indicator of future output.

Persons: Leonhard Foeger, Brent, WTI, Tamas Varga, Sokol, Baker Hughes, Paul Carsten, Florence Tan, Emily Chow, David Goodman Organizations: REUTERS, . West Texas, Reuters, of, Petroleum, Moscow, IIR Energy, Thomson Locations: Vienna, Austria, Israel, Russia, Brent, Washington, India, U.S, East, Gaza, London

☆ Oil extends gains on expectations of further OPEC+ supply cuts
▼ + stars: | 2023-11-20 | by ( Emily Chow | ) www.reuters.com time to read: +3 min

SummaryCompanies Brent, WTI prices rise nearly 1%OPEC+ set to consider whether to make more supply cuts -sourcesUS adds oil, gas rigs, first time in three weeks -Baker HughesSINGAPORE, Nov 20 (Reuters) - Oil futures edged higher on Monday, extending gains on expectations of OPEC+ deepening supply cuts to shore up prices, which have fallen for four weeks on easing concern of Middle East supply disruption amid the Israel-Hamas conflict. Both contracts settled 4% higher on Friday after three OPEC+ sources told Reuters that the producer group, made up of the Organization of the Petroleum Exporting Countries and their allies including Russia, is set to consider whether to make additional oil supply cuts when it meets on Nov. 26. Oil prices have dropped by almost 20% since late September while prompt inter-month spreads for Brent and WTI slipped into contango last week. In a contango market, prompt prices are lower than those in future months, signalling sufficient supply. Investors are also eyeing disruption in Russian crude oil trade after Washington imposed sanctions on three ships that have sent Sokol crude to India.

Persons: Brent, Baker Hughes, WTI, OPEC's, Jorge Leon, Leon, Tony Sycamore, Biden, Sycamore, Sokol, Florence Tan, Emily Chow, Christopher Cushing Organizations: West Texas, Reuters, Organization of, Petroleum, Rystad Energy, Monetary, . Strategic Petroleum Reserve, Thomson Locations: Baker Hughes SINGAPORE, East, Israel, Russia, Brent, Saudi Arabia, Saudi, OPEC, Washington, India, Moscow, U.S, Gaza

☆ Rupee likely to inch up on more dollar losses; eyes oil prices
▼ + stars: | 2023-11-20 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Nov 20 (Reuters) - The Indian rupee is likely to open slightly higher on Monday after the dollar declined to its lowest in over two months against a basket of major peers. Non-deliverable forwards indicate rupee will open at around 83.24-83.25 to the U.S. dollar, compared with 83.27 in the previous session. The dollar index fell 1.8% last week, the worst performance since mid-July. Asian currencies were mostly higher"It looks like it is setting up to be like last week.. rupee will do much in the face of the dollar's struggles," a forex trader at a bank said. "And let's say, for whatever reason, the dollar turns later this week, then too the rupee will not budge.

Persons: Brent, Mary Daly, Susan Collins, Nimesh Vora, Dhanya Ann Thoppil Organizations: U.S ., Federal Reserve, Fed, San Francisco Fed, Boston, ANZ, Brent, Thomson Locations: MUMBAI, Asia, U.S

☆ Oil extends gains as OPEC+ to mull deeper cuts
▼ + stars: | 2023-11-20 | by ( ) www.cnbc.com time to read: +2 min

An oil pump jack is seen in the Loco Hills region, New Mexico, U.S., April 6, 2023. Oil futures nudged higher on Monday, extending gains on expectations of OPEC+ deepening supply cuts to shore up prices, which have fallen for four weeks on easing concern of Mid-East supply disruption brought about by the Israel-Hamas conflict. Brent crude futures climbed 11 cents, or 0.1%, to $80.72 a barrel by 0012 GMT while U.S. West Texas Intermediate crude was at $75.97 a barrel, up 8 cents. Oil prices have dropped by almost 20% since late September while prompt inter-month spreads for Brent and WTI slipped into contango last week. Investors are also eyeing disruption in Russian crude oil trade after Washington imposed sanctions on three ships that have sent Sokol crude to India.

Persons: Brent, WTI, Goldman Sachs, Tony Sycamore, Biden, Sokol Organizations: West Texas, Reuters, Organization of, Petroleum, . Strategic Petroleum Reserve Locations: New Mexico, U.S, Israel, Russia, Brent, Saudi Arabia, OPEC, Washington, India, Moscow, East, Gaza

HONG KONG (AP) — Asian shares were higher Monday after Wall Street closed its third straight winning week with a tiny gain. U.S. futures were lower while oil prices gained as investors looking ahead to OPEC plus meetings. Australia’s S&P/ASX 200 edged 0.1% higher to 7,058.40. The Dow Jones Industrial Average inched up less than 0.1% to 34,947.28 and the Nasdaq composite gained 0.1% to 14,125.48. It had been trading near 152 yen to the dollar last week, but analysts said expectations for lower U.S. interest rates are driving sales of dollars, pushing the yen higher.

Persons: Australia’s, Taiex, what’s, Jerome Powell, it’s, Brent Organizations: Nikkei, China, Dow Jones, Nasdaq, Wall, Ross, BJ’s Wholesale, Companies, Federal Reserve, Fed, U.S Locations: HONG KONG, Hong Kong, Shanghai, South Korea, Bangkok

☆ Oil prices surge after falling below key threshold as report says Saudi Arabia plans to extend production cuts into 2024
▼ + stars: | 2023-11-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

US and international oil prices jumped on Friday by more than 4% after a week-long slump. Saudi Arabia is considering prolonging production cuts into 2024, the Financial Times reported. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS and global oil prices surged on Friday following a week-long slump, as the Financial Times reported top producer Saudi Arabia is considering prolonging its production cuts into 2024. Falling oil prices would be the main driver of the cuts, but some members, the report said, are concerned about the Israel-Palestine conflict and the crisis unfolding in Gaza.

Persons: —, Brent, Prince Abdulaziz bin Salam Organizations: Financial Times, Service, West Texas Intermediate, FT, Saudi Locations: Saudi Arabia, OPEC, Vienna, Israel, Palestine, Gaza, Kuwait, Algeria, Iran

Concern about demand and a possible surplus next year has pressured prices, despite support from the OPEC+ cuts and conflict in the Middle East. The cuts include 3.66 million bpd by OPEC+ and additional voluntary cuts by Saudi Arabia and Russia. Two other OPEC+ sources said deeper cuts could be discussed. "It is not pleasant to see that market volatility is greater ahead of the next meeting while fundamentals overall remain solid," one of the OPEC+ sources said. While three sources said more cuts could be required, two other OPEC+ sources said it was too early to say whether further cuts will be discussed, while another said he did not think it was likely with the caveat to "wait and see".

Persons: Dado Ruvic, Brent, Olesya Astakhova, Alex Lawler, Ahmad Ghaddar, El, Dmitry Zhdannikov, Simon Webb, David Evans Organizations: REUTERS, Oil, OPEC, Ministers, Organization of, Petroleum, Saudi Energy Ministry, International Energy Agency, Reuters, Energy, Thomson Locations: Saudi Arabia, LONDON, East, Russia, OPEC, Saudi

The Shanghai Composite index edged 0.1% higher to 3,054.37. Taiwan’s Taiex gained 0.2% and the Sensex in Mumbai fell 0.1%. Wall Street’s stocks drifted to a mixed finish Thursday as market momentum slowed following the sizzling rally of the first half of November. The Dow Jones Industrial Average slipped 0.1% to 34,945.47, and the Nasdaq composite gained 0.1% to 14,113.67. Stocks in the oil-and-gas industry swooned after the price of crude tumbled sharply to its lowest level since July.

Persons: Seng, Kazuo Ueda, Ueda, Australia’s, Taiwan’s Taiex, ” Yeap Jun Rong, IG, Macy’s, Sonos, Stocks, Halliburton, Brent Organizations: Nikkei, Bank of Japan Gov, U.S, U.S ., Dow Jones, Nasdaq, Walmart, Cisco Systems, Marathon Petroleum Locations: HONG KONG, U.S, New York, Shanghai, South Korea, Mumbai

☆ U.S. crude oil fell into a bear market this week and could head lower as China 'haunts the market'
▼ + stars: | 2023-11-17 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

U.S. crude oil prices entered a bear market this week, down 22% from September highs as traders wrangle over whether the spiral is driven by market fundamentals or just speculation. Phil Flynn, an oil market analyst with the Price Futures Group, said hedge funds have piled into short positions. There is still some "grind lower" in prices in store unless more positive data comes out of China, he said. If prices keep falling, the U.S. will slip from record production because shale producers will have trouble making money and stop investing, he said. The group has blamed speculators for the recent selloff and insisted market fundamentals are strong with China demand healthy.

Persons: Leo Mariani, Roth MKM, Phil Flynn, John Kilduff, Flynn, Kilduff, Matt Maley, Miller, Daniel Yergin, Yergin, Brent, — CNBC's Pippa Stevens Organizations: West Texas, Brent, Price Futures, Energy Information Agency, Again, Traders, P Global, Organization of, Petroleum, UBS, OPEC Locations: China, U.S, Canada, Brazil, Guyana, East, Israel, Persian, Hormuz

☆ Asia stocks waver, expectations of Fed pause intact after data
▼ + stars: | 2023-11-16 | by ( Julie Zhu | ) www.reuters.com time to read: +4 min

U.S. economic data this week has left investors in the same state of confusion about Fed policy as they have been in for weeks. "A period of consolidation seems warranted, especially if Fed officials push back against the recent easing in financial conditions." Australian shares (.AXJO) were down 0.33%, while Japan's Nikkei stock index (.N225) slid 0.36%. On Wednesday, U.S. stocks closed slightly higher, as the inflation data reinforced investor hopes the Fed is done raising interest rates, while retail stocks were boosted by an upbeat forecast from Target. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 4.8991% compared with a U.S. close of 4.916%.

Persons: Issei Kato, HSI, Joe Biden, Xi Jinping, Brent, Julie Zhu, Vidya Ranganathan, Lincoln Organizations: REUTERS, ANZ, Japan's Nikkei, Nikkei, Target, Dow Jones, Nasdaq, Treasury, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, Pacific, U.S

REUTERS/Kim Kyung-Hoon Acquire Licensing RightsNov 17 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The Asia Pacific economic data and policy calendar on Friday is very light, with only Malaysian third quarter GDP and current account reports scheduled for release. Ahead of the data the ringgit is trading around 4.6850 per dollar, near last month's 25-year low of 4.79 per dollar. Anyone hoping for market-moving news from the Asia Pacific Economic Cooperation forum in San Francisco will have been disappointed. The gathering of APEC leaders has been cordial and cooperative but, viewed through an economic and market lens, lacking any real substance.

Persons: Kim Kyung, Jamie McGeever, Joe Biden, Xi Jinping, Fed's Barr, Collins, Daly, Josie Kao Organizations: Nikkei, REUTERS, Treasury, Asia, Malaysian, Asia Pacific Economic Cooperation, APEC, CSI, Brent, Thomson, Reuters Locations: Tokyo, Japan, U.S, Asia Pacific, Asia, San Francisco, China, Malaysia

BANGKOK (AP) — Asian shares have retreated after Wall Street added a bit more to its big rally from a day before, while U.S. futures and oil prices were lower. Biden and Xi emerged from their first face-to-face meeting in a year vowing to stabilize the fraught relationship between the world's two biggest economies. Target helped lead the market with a 17.8% jump after it reported much stronger profit for the latest quarter than analysts expected. Prices at the wholesale level were 1.3% higher in October than a year earlier, and they surprisingly fell from September’s levels. That breathed more life into hopes that inflation is indeed cooling enough for the Fed to halt its barrage of rate hikes.

Persons: Joe Biden, Xi Jinping, Biden, Xi, ” Biden, Hang Seng, ’, retracing, Goldman Sachs, Praveen, Brent Organizations: Nikkei, Dow Jones Industrial, Nasdaq, Federal Reserve, Fed, U.S, Traders, New York Mercantile Exchange Locations: BANGKOK, Shanghai, Seoul, Australia, Japan, India, Bangkok, U.S

☆ World stocks scale 2-month high boosted by rate cuts bets
▼ + stars: | 2023-11-15 | by ( Danilo Masoni | ) www.reuters.com time to read: +5 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 20, 2023. The British consumer price index rose by 4.6% in the 12 months to October, slowing from September's 6.7% increase, the Office for National Statistics said. He sees a "more complicated" process ahead, where stock market exuberance eventually collides with bond market expectations that an economic slowdown will drive rate cuts. The dollar index , which measures the currency against a basket of peers, stood at 104.17, not far from Tuesday's two-month low of 103.98. Interest rate futures swung to price in an interest rate cut by the U.S. Federal Reserve as early as May, with a 30% chance it could come even sooner, in March.

Persons: May MILAN, Carlo Franchini, Naka, Russell, Joe Biden, Xi Jinping, Sterling, Danilo Masoni, Tom Westbrook, Alex Richardson Organizations: REUTERS, Staff, Bank of England, Banca Ifigest, National Statistics, CPI, Nasdaq, U.S . Federal Reserve, Bloomberg News, Golden, HSBC, Brent, Thomson Locations: Frankfurt, Germany, United States, Europe, Asia, China, Milan, Ukraine, Italy, France, Tokyo, San Francisco, London, CHINA, Pacific, Japan, Hong Kong, Beijing, Shanghai, Singapore

☆ Stock Market Today: Dow Rises 150 Points; Post-CPI Stock Rally Continues
▼ + stars: | 2023-11-15 | by ( ) www.wsj.com time to read: +1 min

Stocks rose again Wednesday after fresh data suggested that the economy is slowing. U.S. retail sales fell slightly in October, the first decline since March. Producer prices fell 0.5% in October, marking the biggest drop since April 2020. All three major U.S. indexes rose slightly. Bond yields rose as prices fell.

Persons: Stocks, Dow, TJX Organizations: Federal Reserve, Brent Locations: U.S

TOKYO (AP) — Asian shares surged higher on Wednesday, cheered by a rally on Wall Street that was one of the best days of the year following a surprisingly encouraging report on inflation. “Accordingly, we expect GDP growth to slow from 1.7% this year to 0.5% in 2024,” he said in a commentary. Tuesday on Wall Street, the S&P 500 jumped 1.9% for its best day since April and hit a two-month high, closing at 4,495.70. On Wall Street, real-estate stocks and others beaten down particularly hard by higher rates soared to some of the market's biggest gains. Elsewhere on Wall Street, Home Depot rallied 5.4% after reporting stronger profit for the latest quarter than analysts expected.

Persons: Marcel Thieliant, ”, Hong, Seng, Australia's, Korea's Kospi, Russell, Brent Organizations: TOKYO, Nikkei, Capital Economics, Shanghai, Dow Jones Industrial, Nasdaq, Federal, Technology, Amazon, Nvidia, Treasury, U.S ., Alexandria Real, Bank, Zions Bancorp, Comerica, Valley Bank, Home Depot, New York Mercantile Exchange, U.S Locations: Alexandria, REITs, Wall

☆ Stock Market Today: Dow, S&P 500 Open Higher; Stocks Seek to Build on Post-CPI Rally
▼ + stars: | 2023-11-15 | by ( ) www.wsj.com time to read: +1 min

U.S. retail sales fell slightly in October, the first decline since March. That follows softer-than-expected U.S. inflation data on Tuesday that sent equities and bonds soaring. All three major U.S. indexes rose slightly. Bond yields rose as prices fell. Producer prices fell 0.5% in October, marking the biggest drop since April 2020.

Persons: Stocks Organizations: Federal Reserve, Brent Locations: U.S

It also slightly raised its 2023 forecast for growth in global oil demand and stuck to its relatively high 2024 prediction. Last week, oil prices slid to their lowest level since July, hurt by concerns that demand could wane in in top oil consumers U.S. and China. A U.S. crackdown on Russian oil exports could potentially disrupt supply, supporting prices further. Iraq's oil minister expects to reach an agreement with the Kurdistan Regional Government and foreign oil companies to resume oil production from the Kurdish region's oilfields and resume northern oil exports through the Iraq-Turkey pipeline. Focal points for the market include the International Energy Agency's latest monthly oil market report later in the day.

Persons: Dun Jiao, Tatiana Meel, Leon Li, Emily Chow, Edwina Gibbs, Stephen Coates Organizations: REUTERS, Rights, Brent, ING, Organization of, Petroleum, Strategic Petroleum Reserve, U.S . Treasury Department, Kurdistan Regional Government, of Commerce, International Energy, APEC, Markets, Thomson Locations: Nakhodka, Russia, Rights SINGAPORE, U.S, China, Washington, Moscow, Iraq, Kurdish, Turkey, Shanghai

☆ Oil prices edge up after OPEC says market fundamentals are strong
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsSINGAPORE, Nov 14 (Reuters) - Oil prices inched up on Tuesday after an OPEC report said market fundamentals remained strong and due to concerns supplies might be disrupted as the U.S. cracks down on Russian oil exports. Last week, oil prices slid to their lowest level since July, hurt by concerns that demand could wane in in top oil consumers U.S. and China. Iraq's oil minister expects to reach an agreement with the Kurdistan Regional Government and foreign oil companies to resume oil production from the Kurdish region's oilfields and resume northern oil exports through the Iraq-Turkey pipeline. Oil prices were also supported by a U.S. crackdown on Russian oil exports, potentially disrupting supply. Focal points for the market include the International Energy Agency's latest monthly oil market report later in the day.

Persons: Dun Jiao, Tatiana Meel, Emily Chow, Edwina Gibbs Organizations: REUTERS, Rights, Brent, Organization of, Petroleum, ANZ Research, Kurdistan Regional Government, of Commerce, U.S . Treasury Department, Strategic Petroleum Reserve, International Energy, Energy, Thomson Locations: Nakhodka, Russia, Rights SINGAPORE, U.S, China, Iraq, Kurdish, Turkey, Washington, Moscow

☆ You can thank China and record US oil output for lower gas prices
▼ + stars: | 2023-11-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But the cost of crude oil has been largely declining since the middle of October. The average for a gallon of gas in the United States, meanwhile, dropped to $3.37, according to AAA. This “steady, if slow” decline in gas prices, said an AAA spokesperson, may soon gain speed if oil prices continue their descent. They’re more concerned with economic weakness in China and an increase in oil production in the United States. In the first week of November, US crude oil production reached a new record of 13.2 million barrels per day.

Persons: ” David Kelly, ”, ” David Morrison, refiners, ” Craig Erlam, Brent, Chris Isidore, “, Ted Decker, Refinitiv, Read, Homebuyers Organizations: CNN Business, Bell, New York CNN, AAA, Asset Management, Federal Reserve, Trade, China’s National Bureau of Statistics, . West Texas Intermediate, International Energy Agency, Revenue, National Association of Realtors, Census Locations: New York, Europe, Saudi Arabia, Russia, United States, China, Iran, America, United

TOKYO (AP) — Asian shares were mostly higher Tuesday ahead of potentially market-moving developments, including a U.S.-China summit and data releases from the U.S., Japan and China. “Asian stocks gained ground as investors awaited U.S. inflation figures, hoping to confirm that interest rates have peaked. But worries remain about whether it can stay solid as the full effects of rate hikes make their way through the system. Economists expect the report to show that consumers paid prices that were 3.3% higher in October than a year earlier, down from September’s inflation rate of 3.7%. General worries about big deficits and the inability of the two parties to work together have helped push Treasury yields higher.

Persons: Australia's, Seng, ” Stephen Innes, Xi Jinping, Joe Biden, Jerome Powell, Powell, It's, it's, Moody’s, Brent Organizations: TOKYO, Nikkei, U.S, Management, Dow Jones Industrial, Nasdaq, Walmart, Federal Reserve, Big Tech, Apple, Microsoft, AAA, New York Mercantile Exchange Locations: U.S, China, Japan, Hong, Shanghai, California

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