Canadian crude prices on the US Gulf Coast collapsed after President Donald Trump announced that Venezuela would relinquish as much as 50 million barrels of oil to the US that would be sold at market prices.
Investment-grade firms are on their biggest US borrowing spree since the pandemic-era boom.
Treasuries rose Wednesday amid fresh signs of weakness in US employment that kept alive bets for at least two Federal Reserve interest-rate cuts this year.
The Trump administration plans to control future sales of Venezuelan oil and hold the proceeds in US accounts, Energy Secretary Chris Wright said, making the clearest statement yet on Washington’s strategy to bring the impoverished nation’s crude to market and control its most valuable resource.
Henkel AG has submitted a takeover offer for Olaplex Holdings Inc, according to people with knowledge of the matter, after the shampoo maker lost over 90% of its value since its initial public offering. The stock rose more than 36%.
A New York judge denied BNP Paribas SA’s request to throw out a $20.75 million verdict against the bank for funding a regime that committed widespread human rights abuses in Sudan.
Falling tanker rates are improving the export outlook for US crude, and prices for light sweet barrels, in particular, are getting a lift.
Big technology names were back in the pole position as traders digested mixed economic data and took stock of shifting geopolitical risks. Yields fell across the globe.
The European Union may temporarily suspend its carbon border levies on goods including fertilizers should monitoring uncover any “unforeseen” market impact, Trade Commissioner Maros Sefcovic said.
Shares of Blackstone Inc. and other housing-related companies tumbled after President Donald Trump said he would move to ban institutional investors from buying single-family homes.
