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Economic News and Analysis

The latest news and analysis about the health of the US economy.

(Bloomberg) -- Oil was steady as traders watched for any further clues to OPEC+’s production plans after it delayed a key virtual meeting by four days.Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasBrent crude traded near $73 a barrel after a modest gain on Thursday, with West Texas Intermediate close to $69. The producer group is now set to discuss

Oil Little Changed in Thin Trading After OPEC+ Delays Meeting

(Bloomberg) -- Oil was steady as traders watched for any further clues to OPEC+’s production plans after it delayed a key virtual meeting by four days.Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasBrent crude traded near $73 a barrel after a modest gain on Thursday, with West Texas Intermediate close to $69. The producer group is now set to discuss
Bloomberg 1 hour ago
Indonesian Stocks Head for Correction on Slowing Economic Growth

Indonesian Stocks Head for Correction on Slowing Economic Growth

(Bloomberg) -- Indonesia’s benchmark stock index fell about 10% from its year’s high, heading for a technical correction brought on by slowing economic growth and regional uncertainties after Donald Trump’s win in the US election. Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasThe Jakarta Composite Index dropped as much as 1.3% to its lowest since A
Bloomberg 3 hours ago
Oil prices rise over accusations of breaches to Israel-Hezbollah ceasefire

Oil prices rise over accusations of breaches to Israel-Hezbollah ceasefire

Israel and Lebanese armed group Hezbollah traded accusations on Thursday over alleged violations of their ceasefire that came into effect the day before. The deal had at first appeared to alleviate the potential for supply disruption from a broader conflict that had led to a risk premium for oil.
Reuters 5 hours ago
Ottawa must ensure Trump understands importance of Canadian oil to US, minister says

Ottawa must ensure Trump understands importance of Canadian oil to US, minister says

(Reuters) -Ottawa must make sure the Trump administration understands how inter-related energy markets are in the U.S. and Canada, a Canadian government minister said on Thursday, commenting on President-elect Donald Trump's vow to impose a 25% tariff on imports from the country. "We have some work to do to make sure we are effectively articulating the way in which tariffs would be counterproductive, and that's not just true of oil," Natural Resources Minister Jonathan Wilkinson told Reuters in a phone interview, adding that Americans also benefited from Canadian uranium and hydro exports. Trump, who takes office on Jan. 20, said on Monday he would impose a 25% tariff on imports from Canada and Mexico until they clamped down on drugs and migrants crossing the border.
Reuters 7 hours ago
Oil field owner sues California over law that would end its Los Angeles-area operations

Oil field owner sues California over law that would end its Los Angeles-area operations

The owner of an oil field in Los Angeles County is suing the state of California over a law that will require it to stop production and plug its wells or face costly fines. Inglewood Oil Field owner Sentinel Peak argues in the lawsuit, filed this week, that the law, which was signed in September by Gov. Gavin Newsom, is unconstitutional, the Los Angeles Times reported Thursday. It is was one of several laws aiming to reduce pollution by giving local governments more authority to restrict oil and gas operations by shutting down so-called idle wells, which are not in use but have not been properly sealed and closed, and fining companies for operating low-producing oil wells in the Inglewood field.
Associated Press Finance 7 hours ago
Oil Holds Steady in Thin Trading Ahead of Key OPEC+ Meeting

Oil Holds Steady in Thin Trading Ahead of Key OPEC+ Meeting

(Bloomberg) -- Oil held steady as trading thinned during the US Thanksgiving holiday, with the market looking ahead to an upcoming OPEC+ meeting that has been delayed until Dec. 5. Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasWest Texas Intermediate was little changed below $69 a barrel in a choppy session, while global benchmark Brent traded abov
Bloomberg 11 hours ago
Banxico Members Float Bigger Key Rate Cuts on Inflation Outlook

Banxico Members Float Bigger Key Rate Cuts on Inflation Outlook

(Bloomberg) -- Mexico’s central bank signaled willingness to consider bigger interest rate cuts without setting a specific time-frame for doing so, as closely-watched core inflation continues to slow.Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier Seas“Considering the current levels of core inflation and the expectation that it will continue declining, a
Bloomberg 15 hours ago
Russian central bank takes desperate stand to halt collapsing ruble and fierce inflation

Russian central bank takes desperate stand to halt collapsing ruble and fierce inflation

Worth a fraction of a penny now, the ruble has fallen to lows not seen since March 2022 in the early days of the war against Ukraine.
Fortune 16 hours ago
Bank of America’s guide on how to handle awkward economy and politics chat over Thanksgiving dinner

Bank of America’s guide on how to handle awkward economy and politics chat over Thanksgiving dinner

Bank of America has put together a guide on how to talk mortgages, Trump and the deficit this Thanksgiving.
Fortune 21 hours ago
BAC
RBA’s Bullock Says Inflation Too High to Consider Rate Cuts

RBA’s Bullock Says Inflation Too High to Consider Rate Cuts

(Bloomberg) -- Australia’s core inflation is “too high” to consider interest-rate cuts in the near term, Reserve Bank Governor Michele Bullock said, reiterating that there’s still some way to go before prices return sustainably to target.Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier Seas“The word ‘sustainably’ is important because it recognizes that we
Bloomberg 21 hours ago
AAPL
GOOG
Spanish Inflation Jumps to Most Since August on Base Effects

Spanish Inflation Jumps to Most Since August on Base Effects

(Bloomberg) -- Spanish inflation quickened to the fastest pace since August, though the acceleration was driven by base effects and is unlikely to scupper plans for the European Central Bank to continue lowering interest rates.Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasConsumer prices advanced 2.4% from a year ago in November, according to natio
Bloomberg 22 hours ago