Oil prices gained nearly 3 percent on Tuesday, supported by OPEC-led production cuts, which Saudi Arabia said it would surpass by more than half a million barrels per day (bpd), and by U.S. sanctions against Iran and Venezuela. Continue Reading Below Brent crude futures were up $1.65, or 2.7 percent, […]
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Oil prices steady, OPEC cuts countered by slow progress in trade talks
Oil prices were steady on Monday as support from OPEC-led supply restraint was countered by an uptick in U.S. drilling and concerns about demand due to the slow progress in U.S.-Chinese trade talks. Continue Reading Below Benchmark Brent oil was little changed, up 3 cents at $62.13 a barrel at […]
Hasbro misses quarterly sales estimates
Toymaker Hasbro reported a bigger-than-expected fall in quarterly revenue on Friday, as it struggled with lost sales from the collapse of retailer Toys “R” Us and weak demand in the UK, sending its shares down 9 percent. Continue Reading Below “We were not … able to recapture as much of […]
Yum Brands tops same-store sales estimates on Taco Bell boost
Feb 7 (Reuters) – Yum Brands Inc beat analysts’ estimates for quarterly sales at established global outlets on Thursday, driven by strong growth at Taco Bell and KFC. Continue Reading Below Taco Bell recorded its strongest growth in same-restaurant sales in seven quarters. Yum has been taking the U.S.-centered brand’s […]
Oil falls 1 percent as supply concerns fade
Oil fell 1 percent on Wednesday after a report showed a rise in U.S. crude inventories, while concerns about the impact of U.S. sanctions on Venezuela on global supplies eased. Continue Reading Below U.S. crude inventories rose by 2.5 million barrels last week, the American Petroleum Institute said on Tuesday. […]
Oil rises on tighter supply but US factory data weighs
Oil prices rose on Tuesday as investors expect U.S. sanctions on Venezuela and production cuts led by OPEC and its allies to head off any glut, but data showing a decline in U.S. factory orders weighed on the market. Continue Reading Below The supply optimism helped U.S. West Texas Intermediate […]
BP’s 2018 profit doubles to 5-year high as output soars
BP joined its competitors in posting a strong 2018 performance, with a doubling of profits driven by strong growth in oil and gas output following a large U.S. shale acquisition. Continue Reading Below Record utilization of its oil and gas fields and refining capacity further helped BP seal what was […]
Slack confidentially files for IPO
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Brent crude hits 2019 high near $64 on Venezuela sanctions, OPEC
Oil hit a two-month high close to $64 a barrel on Monday as OPEC-led supply cuts and U.S. sanctions against Venezuela’s petroleum industry offset forecasts of weaker demand and an economic slowdown. Continue Reading Below The Organization of the Petroleum Exporting Countries and its allies began a new round of […]
Oil prices rise on hopes US-China breakthrough
Oil prices rose 1.5 percent on Friday, lifted by signs the United States and China could soon settle their protracted trade dispute while producer cuts and U.S. sanctions on Venezuelan exports have helped tighten supply. Continue Reading Below International Brent crude oil futures were up 91 cents, or 1.5 percent, […]