By Nandita Bose and Jarrett Renshaw WASHINGTON (Reuters) – U.S. President Donald Trump said on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop buying oil from Russia, and Trump said he would try to get China to do the same as Washington steps up efforts to cut off Moscow’s energy revenues. India…
In the last Market at closing live broadcast, viewer Richard asked a sharp question: “The ITB – the construction index – appears to be the first to fall, showing weakness in the overall economy. Is this just a setback or a sign of things to come?” John Rowland, CMT, did not hesitate to broaden the…
Gasoline prices are approaching the $3 threshold as oil prices fall, demand declines, and cheaper driving fuel blends begin to appear. The average price of driving fuel in the United States fell to $3.06 per gallon on Wednesday, down $0.05 from a week ago and down $0.14 from last year, according to AAA. This marked…
November WTI Crude Oil (CLX25) closed Monday up +0.59 (+1.00%) and November RBOB Gasoline (RBX25) closed up +0.0012 (+0.39%). Crude oil and gasoline prices closed higher on Monday, recovering some of last Friday’s decline. Crude oil prices rose after the Trump administration over the weekend indicated its openness to reaching a trade deal with China….
Asian stock markets are showing caution as investors await the release of important US inflation data, which is expected to shape the Federal Reserve’s future monetary policy decisions. Stock benchmarks in Hong Kong and Australia show slight gains, while mainland Chinese stocks open slightly lower. Japanese stocks see a modest decline, with trading subdued due…
The OPEC+ group continues to return modest volumes of supply to the market, cautious not to tank oil prices as demand weakens after the summer. Production increases are estimated to be smaller than headline figures suggest: some producers lack the capacity to increase production further, while others are compensating for previous overproduction. While lower-than-expected production…
NEW YORK (Reuters) – U.S. oil production is expected to hit a higher record this year than previously expected, the Energy Information Administration said on Tuesday, even as the agency warned that an oil glut will weigh on prices in the coming months. The Department of Energy’s statistical arm expects U.S. oil production to average…
