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U.S. crude oil falls to $79 a barrel, seven-week low as stockpiles surge on lackluster demand
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Oil ends at 9-week low after OPEC leaves demand forecast unchanged
Oil futures settled at a nine-week low on Tuesday, as the Organization of the Petroleum Exporting Countries left its monthly forecasts largely unchanged while traders weighed the outlook for interest rates and their potential impact on energy demand.MarketWatch - Business -
Oil Rises on Reports of U.S. Crude Inventories Draw But All Eyes Are on Inflation Data
Oil prices edged higher on reports of a larger-than-expected draw in U.S. crude inventories, but remained broadly under pressure on prospects of higher-for-longer rates due to sticky inflation.The Wall Street Journal - World -
OPEC Sticks to Oil-Demand View
OPEC left its estimates for global oil-demand growth unchanged for this year and next, while reporting a fall in crude output as the market awaits the cartel’s next production policy move at its upcoming meeting in June.The Wall Street Journal - World -
IEA lowers 2024 oil-demand forecast
The International Energy Agency cut its forecast for oil-demand growth this year as subdued industrial activity and mild winter temperatures reduced gasoil consumption across some of the world’s largest economies, particularly in Europe.MarketWatch - Business -
Burberry Profit Falls as Soft Demand, Turnaround Bite
Burberry posted a decline in profit for fiscal 2024 as it kept struggling to revitalize its business through a turnaround plan against a backdrop of slowing luxury demand.The Wall Street Journal - World -
Top House Democrat demands answers on Trump dinner with oil executives – live
Jamie Raskin writes to nine executives after report says Trump promised to repeal regulations if they each gave $1bn to campaign. Trump hush-money trial – live updatesUS House in session with major agenda but its speaker is awol at Trump trialThe ...The Guardian - World - Donald Trump -
IEA Lowers 2024 Oil-Demand Growth Forecast on Slow Start of the Year
The International Energy Agency cut its forecast for oil-demand growth this year as subdued industrial activity and mild winter temperatures reduced gasoil consumption across some of the world’s largest economies, particularly in Europe.The Wall Street Journal - World -
Voter turnout in India’s election has been low, but it’s surging in Kashmir
Voters in the Indian Kashmir city of Srinagar turned out in large numbers in the first elections since the Himalayan region’s semi-autonomy was removed in 2019.NBC News - Top stories -
Mortgage demand from homebuyers drops even as interest rates pull back to April lows
Total mortgage application volume increased just 0.5% from one week earlier, according to the Mortgage Bankers Association's seasonally adjusted index.CNBC - Business - Mortgage -
U.S. Dollar Falls as Market Awaits CPI Data
The big issue for the U.S. inflation outlook is if producers manage to pass rising costs on to consumers, Brown Brothers Harriman said ahead of the April CPI data release.The Wall Street Journal - World
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Here's everything to expect from Wednesday's key report on inflation
The Labor Department's Bureau of Labor Statistics will provide the consumer price index data Wednesday at 8:30 a.m. ET.CNBC - Business -
Jamie Dimon urges the U.S. to deal with its deficit sooner rather than later
JPMorgan Chase CEO Jamie Dimon on Wednesday urged the U.S. government to reduce its fiscal deficit sooner rather than later.CNBC - Business -
GameStop, AMC decline as meme stock rally fizzles after just two days
GameStop and AMC shares fell as the meme stock trading frenzy showed signs of fizzling early on its third day.CNBC - Business -
Sony-backed computing startup heads for rare IPO in sidelined London stock market
Raspberry Pi, which makes tiny single-board computers, said in a filing that it is considering an initial public offering on the London Stock Exchange.CNBC - Business -
Mortgage demand from homebuyers drops even as interest rates pull back to April lows
Total mortgage application volume increased just 0.5% from one week earlier, according to the Mortgage Bankers Association's seasonally adjusted index.CNBC - Business - Mortgage