Oil prices end little changed overshadowed by rising U.S. production

Oil prices edged higher on Monday as investors showed record confidence that prices would rise further, though gains were capped by the prospect of faster growth in U.S. oil production. On its second to last day as the front-month contract, Brent futures for April delivery were up 16 cents, or 0.3 percent, at $56.15 a barrel by 11:24 a.m. EST (1624 GMT). U.S. West Texas Intermediate crude (WTI), meanwhile, was up 21 cents, or 0.4 percent, to $54.20 per barrel…

Top Fed governor Tarullo to resign, creates opportunity for Trump to reshape Fed

The Federal Reserve said Friday that Daniel Tarullo, the central bank’s top financial regulator, has submitted his resignation, effective April 5, creating an opportunity for President Donald Trump to reshape the Fed. “Dan led the Fed’s work to craft a new framework for ensuring the safety and soundness of our financial system following the financial crisis and made invaluable contributions across the entire range of the Fed’s responsibilities,”…

Wall Street, EU shares, EUR/USD down as oil prices slumped, political uncertainty

The euro fell to a one-week low against the dollar on Monday on uncertainty ahead of several impending European elections, while European and U.S. stock markets dipped ahead of a heavy week of corporate results. Concerns over French politics ahead of the presidential vote in April, as well as other elections in Europe later in the year, dented the euro…

ECB could soon plan exit from stimulus program: Executive Board member Lautenschlaeger

The European Central Bank could soon start planning an exit from its unprecedented stimulus program, Executive Board member Sabine Lautenschlaeger said on Tuesday, a rare public discussion of ending its asset buying scheme. A longtime critic of the ECB’s ultra-easy monetary policy, Lautenschlaeger has opposed many of the bank’s past easing measures and now becomes the only board member to publicly advocate an exit, a taboo for ECB President Mario Draghi, who has said that tapering, or winding down the 2.3 trillion euro ($2.5 trillion) program has not been discussed…

322,000 job openings in U.S. manufacturing, same level as in 2007

President-elect Donald Trump wants to “bring the jobs back.” But there already are many job openings right here in America, even in manufacturing. The bigger challenge is filling them. In October, there were 322,000 job openings in manufacturing — about the same level as in 2007. It has tripled since hitting a low of 99,000 during the recession in 2009…

U.S. jobless claims drop 10,000 from a 5-month high for week ended Dec. 3

The number of Americans filing for unemployment benefits fell from a five-month high last week, pointing to labor strength that underscores the economy’s sustained momentum. A tight labor market together with signs of a strengthening economy and steadily rising inflation will likely push the Federal Reserve to hike interest rates next week…

ECB trims asset buys, promises to keep borrowing costs depressed longer

The European Central Bank caught financial markets off-guard on Thursday by announcing it would trim asset buys from April next year, even as it reserved the right to increase purchases again if the euro zone’s recovery faltered. The ECB said it would cut monthly purchases to 60 billion euros from the current 80 billion euros but extend the buys until the end of 2017…

EU’s economy not strong enough to be taken off life support: ECB

Europe’s economy is not strong enough to be taken off life support. That’s the view of the European Central Bank, which announced Thursday that it will extend its bond buying program until at least December 2017. But the pace of purchases — currently at €80 billion ($86 billion) a month — will slow to €60 billion ($64 billion) a month starting in April…

UK’s cost of living to increase noticeably over next 12 months, peak over 3%

The rise in the annual inflation rate to 1% last month is just the start. The cost of living in Britain is certain to increase noticeably over the next 12 months and likely to peak at about 3%, perhaps even a bit higher. A bit of perspective is needed. By Britain’s recent standards, inflation is still low. Harold Wilson could only dream of 1% inflation when prices were shooting up at an annual rate of almost 26% in 1975…

Oil prices drop below $47 a barrel on resurgence of supply glut fears

Oil prices fell 2 percent on Tuesday, falling further from the previous session’s one-week high on receding hopes for an agreement between the world’s top two producers to freeze output to tackle a global supply glut. Saudi Arabia and Russia agreed on Monday to cooperate in world oil markets, prompting Brent crude to jump almost 5 percent only for it to pare gains after Saudi Energy Minister Khalid al-Falih said there was no need to freeze output for now…

Oil prices fall 1%, dollar surges after U.S. jobs data

Oil prices fell 1 percent on Friday, ending a two-day rally fueled by short-covering and bargain-hunting, as the dollar surged on robust U.S. jobs data and reasserted its influence over crude futures in an oversupplied market. The dollar .DXY had its biggest daily advance in six weeks, rising 0.7 percent, after U.S. employment growth exceeded expectations in July as higher wages improved chances that the U.S. Federal Reserve would raise interest rates before the year ends. [FRX/]…

Oil prices edge above $42 a barrel after data shows fall in U.S. inventories, weaker dollar

Oil edged higher to $42 a barrel on Wednesday after hitting its lowest since April the previous day, supported by an industry report showing a fall in U.S. inventories and a weaker dollar. But prices could struggle to make much headway, analysts said, as sentiment remains bearish. A supply glut that has weighed on prices could increase if oil exports actually restart from ports in Libya that have been closed since 2014…

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