Oil lower on U.S.-China tensions but heads for huge monthly rise
Oil prices eased on Friday on fears of worsening Washington-Beijing relations and lacklustre U.S. fuel demand, but were still headed for sharp monthly gains.
Oil prices eased on Friday on fears of worsening Washington-Beijing relations and lacklustre U.S. fuel demand, but were still headed for sharp monthly gains.
China just concluded its closed-door annual meeting of parliament, the National People's Congress (NPC), with top officials making clear that employment is the top priority.
The S&P 500 and Dow slipped on Friday as investors were nervous ahead of a U.S. response to China's national security law on Hong Kong that threatens to take the shine off another month of strong gains for the stock market.
Oil prices were dragged sharply lower on Friday by weak U.S. fuel demand, fears of a second wave of coronavirus cases in South Korea and a worsening in U.S.-China relations, but were still on track for a hefty monthly gain.
Aircraft makers are circling Brazil's Embraer weeks after Boeing ditched plans for a historic commercial aviation tie-up, people familiar with the matter said.
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Giovanni Pili, a worker at a Renault factory in France, was on Friday savoring the fact that he was not laid off in a global shakeup at the carmaker, and trying not to think too much about the uncertain future facing his plant, and his industry.
Uber Technologies Inc on Friday said it would offer rides by the hour in some U.S. cities, a feature aimed at helping Americans with essential trips during the coronavirus pandemic.
"Productivity is significantly higher when you give people what they want," Kevin O'Leary told CNBC.
OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey found, although Nigeria and Iraq are laggards in making their share of the reduction.
The S&P 500 and Dow Jones indexes opened lower on Friday as investors braced for a U.S. response to China's national security law on Hong Kong, threatening to take the shine off another month of strong gains for the stock market.