Oil prices cooled on Wednesday as Saudi Arabia said the kingdom had fully restored its oil supply following attacks on its crude facilities although caution ahead of an expected U.S. interest rate cut kept wider financial markets in tight ranges.
Saudi Arabia's oil supply is fully back online after weekend attacks halved output and the kingdom will achieve 11 million barrels per day (bpd) capacity by the end of September and 12 million bpd by the end of November, the energy minister said on Tuesday.
The United States believes Saturday's attack on Saudi Arabia's oil facilities originated in southwestern Iran, a U.S. official told Reuters on Tuesday.
Oil prices dropped about 6% on Tuesday after Saudi Arabia's energy minister said the kingdom has fully restored its oil production hit by an attack this weekend that shut 5% of global oil output.
Adobe Inc on Tuesday gave a tepid current-quarter revenue forecast and said that bookings in its newly acquired marketing software unit were growing slower than expected, sending shares nearly 3% in after-market trading.
Saudi Aramco chairman Yassir al-Rumayyan said on Tuesday a planned initial public offering (IPO) of the state oil giant would be ready within the coming 12 months and that the kingdom was committed to the listing.
The United States believes the attacks that crippled Saudi Arabian oil facilities last weekend originated in southwestern Iran, a U.S. official told Reuters on Tuesday.
The chief executive of Russian state-controlled shipping giant Sovcomflot, Sergei Frank, will step down after 15 years in office, the office of Deputy Prime Minister Maxim Akimov said in a statement on Tuesday.
Federal Aviation Administration chief Steve Dickson has invited about 50 aviation safety regulators from around the world to an informal briefing in Montreal next week on the status of the grounded Boeing 737 MAX, according to an email seen by Reuters.
Oil prices tumbled about 6% on Tuesday after Saudi Arabia's energy minister said the country has managed to restore oil supplies to where they stood before weekend attacks on its facilities shut 5% of global oil output.
The Benettons ushered in a change of guard at Italian infrastructure group Atlantia , replacing its powerful CEO with a management committee, as they move to deal with fallout from a deadly bridge collapse.
Toyota Motor Corp said on Tuesday it was investing $391 million in its pickup truck assembly plant in San Antonio, Texas, as part of the Japanese automaker's plan to invest $13 billion in its U.S. operations over five years through 2021.
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British Prime Minister Boris Johnson told Saudi Arabia's Crown Prince Mohammed bin Salman on Tuesday that there should be a collective response to attacks on the country's oil facilities.
A U.S. banking regulator on Tuesday proposed easing a rule requiring banks to set aside cash to safeguard derivatives trades between affiliates, marking one of the biggest wins for Wall Street lenders under the business-friendly Trump administration.