Oil Slips as Thin Summer Trading Leaves Crude Tracking Equities
Oil edged lower, swinging in thin summer trading, as growing supplies and a shaky economic outlook weigh on the market.
Bloomberg Business
Stocks Retreat as Traders Weigh Mixed Data Before Powell Speech
US stocks pared early session gains Thursday as investors weighed mixed economic data against Nvidia Corp.’s strong forecast and the risks that Federal Reserve Chair Jerome Powell could take a hawkish tone at his speech Friday in Jackson Hole, Wyoming.
Ecuador Oil Field Shutdown Faces Constitutional Roadblock
Although Ecuadorians this month voted to shut a major oil field, local residents may be able to overturn the referendum and keep crude flowing, according to Oil and Mines Minister Fernando Santos.
Putin Shores Up Power Base After Prigozhin Crash in Russia
The plane crash that presumably killed Wagner founder Yevgeny Prigozhin restored Vladimir Putin’s reputation as Russia’s unchallengeable leader for many of the country’s elite, even as the cause of the disaster may never be fully established.
EU Trade Chief Is Aiming for Steel Accord With the US by October
The European Union will boost its engagement with the US in an effort to reach an agreement to govern steel and aluminum trade by October, and avoid a potential return of tariffs on billions of dollars of transatlantic exports.
US Talks With Venezuela Offer Faint Hope for Tattered Oil Fields
The Biden administration’s decision to open talks to temporarily lift sanctions against Venezuela raises the prospect that production may finally rebound in the world’s largest oil reserves.
Job Market Is Fed’s Ally With Wage Growth Slowing Down, Indeed Says
US wage growth continues to slow as inflation comes down, offering encouraging news for the Federal Reserve as its chiefs meet at Jackson Hole, according to job-search website Indeed.
BRICS Latest: Bloc Invites New Members, Plans Two-Tier System
BRICS leaders invited top oil exporter Saudi Arabia and five other countries including Iran to join their bloc in a push to expand its global influence.
US Urges Regulators to Review Vistra’s $6.8 Billion Nuke Deal
The US Justice Department is urging regulators to take a closer look at Vistra Corp.’s planned $6.8 billion acquisition of a rival power producer because it may be anticompetitive.
Private Credit Firms in Talks on $3.4 Billion Hyland Loan Package
A group of private-credit lenders are in talks to extend a $3.25 billion loan to Hyland Software Inc. so the company can refinance debt, marking the latest example of a borrower turning away from the leveraged loan market.