Oil prices hold at 2025 lows on tariff fears, prospects for end to war in Ukraine
Oil futures settled lower Wednesday, with concerns over...
Oil futures settled lower Wednesday, with concerns over the global economic outlook and potential for an end to Russia’s war against Ukraine that could lift sanctions on Moscow prompting prices to hold ground at their lowest levels of the year.
Official U.S. data released Wednesday showing the first weekly decline in domestic crude inventories in five weeks, along with gains in petroleum-product supplies, provided little support to prices.
West Texas Intermediate crude for April delivery edged down 31 cents, or 0.5%, to settle at $68.62 a barrel on the New York Mercantile Exchange, the lowest front-month finish since Dec. 10, according to Dow Jones Market Data.
April Brent crude the global benchmark, lost 49 cents, or 0.7%, at $72.53 a barrel on ICE Futures Europe. The more actively traded May contract declined 43 cents, or 0.6%, to $72.07 a barrel.
March gasoline shed 0.9% to $1.95 a gallon, while March heating oil declined by 1.9% to $2.34 a gallon.
Natural gas for March delivery settled at $3.91 per million British thermal units, down 6.4%on the contract’s expiration day.
U.S. stocks finished mostly higher on Wednesday, with...
U.S. stocks finished mostly higher on Wednesday, with the S&P 500 and the Nasdaq Composite snapping their four-day losing streaks as investors digested heightened uncertainty around President Trump's tariff plans and awaited a key earnings report from Nvidia Corp.
The S&P 500 eked out a small gain of 0.01%, to end at 5,956.06, according to Dow Jones Market Data.
The Nasdaq Composite rose 48.88 points, or around 0.3%, to finish at 19,075.26.
The Dow Jones Industrial Average lost 188.04 points, or 0.4%, ending at 43,433.12. It was the first daily decline for the blue-chip index in three days, according to Dow Jones Market Data.
It was a volatile trading session for the S&P 500 and the Nasdaq. Stocks bounced back in morning trading from their four-day losing streaks, only to be dampened by fresh tariff threats from President Trump in afternoon action.
The president on Wednesday said he planned to slap 25% tariffs on imports from the European Union. “We'll be announcing it very soon, and it'll be 25% generally speaking, and that'll be on cars and all the things,” Trump said during his first cabinet meeting.
Taiwan detained a Chinese ship suspected of cutting a subsea cable
Taiwan says it caught a Chinese-crewed freighter ...
Taiwan says it caught a Chinese-crewed freighter in the act of severing an undersea communications cable, adding that it couldn’t rule out sabotage. China’s foreign ministry spokesperson told the Financial Times that he was not familiar with the incident. If intentional, the incident would be the latest in what Taiwan calls China’s “gray zone” harassment campaign against the island country. Both China and Russia have been accused of severing subsea cables around the world in recent months.
US consumers are souring on the economy. The Conference...
US consumers are souring on the economy. The Conference Board’s Consumer Confidence Index dropped nearly 7% in February—the lowest reading since June and the biggest monthly decline since 2021 as Americans increasingly worry about inflation, tariffs, and the labor market. Economists say President Trump’s proposed tariffs on US trade partners like Canada and Mexico could accelerate inflation. One of the board’s senior economists noted a “sharp increase” in index participants mentioning tariffs, “back to a level unseen since 2019.” Still, several other indicators suggest that the US economy continues to grow and is outperforming most major economies.
Apple shareholders rejected an outside proposal to jettison the company’s DEI initiatives, but acknowledged it could make adjustments.
Unilever is replacing its CEO, Hein Schumacher, less than two years after he took the role as the consumer goods giant accelerates its turnaround plan.
Tesla sales plunged 45% in Europe in January following CEO Elon Musk’s foray into the Continent’s politics.
Hydrogen fuel explored for UK rail decarbonization
Trains powered by hydrogen produce almost 80% fewer carbon emissions...
Trains powered by hydrogen produce almost 80% fewer carbon emissions than diesel-powered trains, according to University of Derby researchers testing the alternative fuel for potential use on the United Kingdom's rail system. While both fuels emit nitrogen oxide, converting diesel engines to use hydrogen would be cheaper than electrification.
