Minneapolis CNN Business — The US economy grew last quarter, bouncing back after shrinking in the first half of the year — but there are indications that consumer spending, which powers the US economy, is starting to soften. Gross domestic product — the broadest measure of economic activity — rose by an annualized rate of … Read more
BEIJING: Oil prices eased on Tuesday morning ahead of the resumption of indirect talks between the United States and Iran which may revive a nuclear deal that could lead to the removal of sanctions on Iranian oil sales, increasing global supplies. Brent crude was last down 36 cents, or 0.4%, at $92.33 a barrel by … Read more
India is likely to go ahead with an oil tax cut to soften retail prices, said Bank of America Securities. Synopsis International crude oil prices have surged to their highest levels in 13 months recently, led by a strong demand outlook due to recovery in global economies as well as supply disruptions in the Middle … Read more
It’s a good day for OPEC. Data published Monday by the oil cartel show its members have largely complied with an agreement to slash production. The confirmation caps a remarkable year for OPEC, which was forced to devise a plan to boost prices after they fell to $26 per barrel in February 2016. The price … Read more