Oil prices ease on US gasoline demand worries economic data

Oil prices ease on US gasoline demand worries economic data

NEW YORK (Reuters) -Oil prices eased about 1% on Wednesday on worries over weak U.S. gasoline demand and economic data that could cause the U.S. Federal Reserve to keep interest rates higher for longer. High interest rates used to tackle lingering inflation can weigh on economic growth and reduce demand for oil. Brent futures fell 62 cents, or 0.7, to settle at $83.60 a barrel, while U.S. West Texas Intermediate (WIT) crude fell 60 cents, or 0.8%, to settle at $79.23. 3,323.20 -6.89(-0.21%) 5,266.95 -39.09(-0.74%) 38,441.54 -411.32(-1.06%) 16,920.58 -99.30(-0.58%) 67,489.70 -905.57(-1.32%) 1,448.88 -35.81(-2.41%) 8,183.07 -71.11(-0.86%) 2,336.90 -19.60(-0.83%) 79.28 -0.55(-0.69%) 4.6240 +0.0820(+1.81%) 38,556.87 -298.50(-0.77%) 18,477.01 -344.15(-1.83%) 1,605.35 -10.47(-0.65%) 7,140.23 -7,253.63(-50.39%) 6,411.41 -89.93(-1.38%)

WASHINGTON (Reuters) -A U.S. judge in Seattle on Tuesday rejected Amazon.com’s request to dismiss a Federal Trade Commission (FTC) lawsuit that accuses the company of enrolling millions of consumers into its paid Amazon Prime service without their consent. Attorneys for Amazon had urged U.S. District Judge John Chun to dismiss the FTC’s claims. Amazon said Wednesday, the “FTC’s claims are false on the facts and the law… We look forward to the opportunity to present the real facts in the case.”

Investing.com– Gold prices steadied in Asian trade on Wednesday as focus remained squarely on upcoming cues on U.S. inflation and interest rates, although a somewhat hawkish outlook on rates kept traders cautious towards metal markets.

NEW YORK (Reuters) -Oil prices gained more than $1 a barrel on Tuesday on the expectation that OPEC+ will maintain crude supply curbs at its June 2 meeting, while the start of U.S. summer driving season and a weaker dollar also boosted the commodity. Brent crude futures for July delivery settled up $1.12, or 1.4% at $84.22 a barrel. U.S. crude ended at $79.83 a barrel, gaining $2.11, or 2.7% from Friday’s close, having traded through Monday’s U.S. mark Memorial Day holiday without a settlement.

Investing.com– Oil prices settled lower Wednesday, as traders looked ahead to fresh petroleum inventory data for signs of a pick up demand as the U.S. summer season gets underway.

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The stake represents about 2% of the fund’s holdings, according to Ark Chief Futurist Brett Winton in an interview to Bloomberg, which added that Ark Venture Fund revealed the stake in an email to clients. Musk’s xAI announced on Monday it had raised $6 billion in series B funding, backed by investors including Andreessen Horowitz and Sequoia Capital.

Merck has said it’s in the market for deals of up to around $15 billion as it plans ways to deal with a loss of revenue from its aging cancer immunotherapy Keytruda.

Private sector entrepreneurs in Cuba will be able to establish US bank accounts which they can remotely access, US officials said Tuesday, in announcing an update to the country’s Cuba policy.“These measures seek to create divisions within Cuban society,” Rodriguez wrote on X. Under the changes, independent private sector entrepreneurs will be able to set up remotely accessed US bank accounts for authorized transactions.


The International Monetary Fund on Wednesday raised its yearly growth forecast for China, but warned that Beijing’s industrial policy risks a “misallocation” of resources and could harm trade.It also warned Beijing’s strong support for strategic industries risked a “misallocation” of resources and trade blowback.

Revenue grew by 78.6% y-o-y, reaching a record US$220.8 million in FY2024.

Some people were stunned by the former president’s handwritten message. Others thought it was a deliberate ploy.

Thousands of protesters had gathered outside Taiwanese parliament, calling on MPs to ‘refuse Chinese political interference’

Poland’s defense ministry called the “east shield” the largest operation to strengthen the eastern flank of NATO since the end of World War II.

Belgium plans to provide 30 F-16 jets to Ukraine to enhance air defenses and strike capability against Russia as part of a $1 billion aid package.

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A consortium of U.S. investment firm KKR and Singapore Telecommunications (SingTel) has emerged as the frontrunner to buy a minority stake worth $1 billion in one of Asia’s biggest data centre providers, two sources said. The potential investment in ST Telemedia Global Data Centres (STT GDC) reflects growing interest and demand for data centres across Asia Pacific as nations and companies respond to the boom in artificial intelligence.

Donald Trump boasted about having sex with adult film star Stormy Daniels at the 2006 golf tournament where the two met, a celebrity athlete who played the tournament has said.The athlete also told The Daily Beast that a decade later, in the run-up to the 2016 election, he received anonymous calls from strangers asking what he remembered of the weekend.Daniels says she told confidantes at the time that she had sex with Trump, and has told her story repeatedly since. Trump has repeatedly denied h

The former president lashed out after the actor called him “a tyrant” and “a coward."


France and Germany said Tuesday that Ukraine should be allowed to use their weapons against targets inside Russia from which Moscow attacks Ukraine.

The former president’s attempt to defend himself took a turn outside court Tuesday.

In true Donald Trump fashion, the former president isn’t letting closing arguments come and go in his New York hush-money trial without letting us all know how he feels about the ordeal.Trump rattled off a string of posts to Truth Social on Tuesday afternoon to complain about the proceedings, appearing particularly peeved at how long prosecutors’ closing arguments were taking. He suggested the lengthy, six-hour closing statements were to bury his defense attorney’s arguments before deliberations

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