MARKETS

U.S. stocks kicked off the trading week on Monday with a rally after Britain reversed course on an economic plan, while Bank of America was the latest financial company to post solid quarterly results, which lifted optimism about the corporate earnings season.

Sterling rallied 1.1 percent to $1.1293 ahead of Jeremy Hunt's fiscal announcement due 1000 GMT.

OPEC+ member states lined up on Sunday to endorse the steep production cut agreed this month after the White House, stepping up a war of words with Saudi Arabia, accused Riyadh of coercing some other nations into supporting the move.

Asian share markets slipped on Monday following another drubbing for Wall Street as investors brace for further drastic tightening in global financial conditions, with all the risks of recession that brings.

Keeping prices from falling farther was a steep drawdown in distillate stocks that came as heating oil demand is expected to rise as winter approaches.

Liz Truss successfully campaigned to become prime minister by saying she was opposed to the idea of a tax on the profits of energy giants.

The French government on Wednesday ordered some staff at an Exxon Mobil depot back to work and warned a TotalEnergies' depot could be next, risking a wider conflict with trade unions as it battles to secure petrol supplies following weeks-long strikes.

The dollar rose to a fresh 24-year high against the yen on Wednesday, moving above levels that prompted intervention by Japanese officials last month, as traders braced for U.S.

The energy security crisis caused by the war in Ukraine and disrupted access to Russian gas has sparked fears that countries will fall back on dirty fuel sources like coal.

A price cap on Russian seaborne oil deliveries being developed by the United States and G7 countries could significantly reduce Russia's revenues while encouraging Moscow to continue to produce oil, 16 economists from top U.S.

The decision by the Organization of the Petroleum Exporting Countries and allies last week to cut oil production has spurred a flurry of activity in the options market - but with more U.S.

Oil prices slipped on Monday, easing off five-week highs, as the market took profits following strong gains last week on expectations of tighter supplies following OPEC+ cuts and ahead of the European Union embargo on Russian oil.

The dollar started the week firmly on Monday, with a strong U.S.

Vehicle owners have faced increasingly long waits to fill up after two weeks of strikes by workers demanding higher wages in response to soaring prices.

Top U.S. senators from both parties on Thursday gave momentum to a bill pressuring OPEC+ after the group this week announced a deep cut in oil production despite lobbying by President Joe Biden's administration to keep the taps open.

U.S. stock indexes futures pared losses on Thursday, with Nasdaq futures briefly turning positive after data showing an increase in weekly jobless claims suggested the Federal Reserve may need to ease its aggressive monetary tightening cycle.

The Norwegian government expects record income next year from its oil and gas industry, it said on Thursday, predicting a rise of 18% from this year's level and a fivefold increase over 2021 as production rises and prices soar.

The dollar fought for a footing in choppy trade on Thursday, with support from upbeat U.S. data and hawkish policymaker comments

Oil prices edged up in early Asian trade on Thursday after OPEC+ agreed to further tighten global crude supply with a deal to slash oil production by about 2 million barrel per day.

Global bond funds saw the biggest outflows in two decades in the first three quarters of this year as hefty interest rate increases by central banks to tame inflation sparked fears of a recession.

Exxon Mobil Corp on Tuesday signaled strong third quarter operating profits on the heels of the second quarter's all time high as earnings from high natural gas offset weaker refining and chemicals, according to a securities filing.

OPEC+ looks set for deep oil output cuts when it meets on Wednesday, curbing supply in an already tight market despite pressure from the United States and other consuming countries to pump more.

European shares rose sharply on Tuesday, in line with global peers, boosted by growing hopes that central banks may ease the pace of future interest rate hikes as they attempt to bring down high inflation.

OPEC+ producers look set to cut output when they meet on Wednesday, squeezing supply in an oil market that energy company executives and analysts say is already tight due to healthy demand, lack of investment and supply problems.

Foreigners resumed selling in Asian equities ex-China stocks in September as investors were deterred by U.S.

Oil prices inched higher in early Asian trade on Tuesday, on expectations that OPEC+ may agree to a large cut in crude output when it meets on Wednesday but concerns about the global economy capped gains.

Asian stocks bounced on Tuesday after Britain scrapped bits of a controversial tax cut plan, tentatively improving global market sentiment and rallying bonds and the pound.

U.S. President Joe Biden will co-host a food security summit later in September while in New York for the annual gathering of world leaders at the United Nations, U.S.

Oil prices climbed on Thursday, paring some of their steep losses in the previous session, as the potential for an energy standoff between European nations and Russia overshadowed fears of recession and rising inflation.