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Oil prices drop on swelling U.S. stockpiles, but markets remain tense

Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and as Saudi Arabia pledged to keep markets balanced. However, analysts said oil markets remained tight amid supply cuts led by producer group OPEC and as political tension escalates in the Middle...

Pound at four-month lows as Brexit rumbles, Asian equities simmer

The British pound was rooted at four-month lows Wednesday after British MPs slammed Theresa May's latest plan to push through her Brexit plan, increasing the chances of a no-deal divorce, while Asian markets drifted as dealers fret over China-US tensions. With Wall Street providing a...

Huawei and trade war weigh on Asian markets

Concerns about the worsening Huawei row and the broader China-US trade war put pressure on Asia equities on Tuesday, with analysts warning the crisis could rumble on for some time. Regional investors were spooked by a sharp drop in New York's tech-rich Nasdaq after Google said it was...

Exxon evacuates foreign staff from Iraqi oilfield: Iraqi official, sources

Exxon Mobil has evacuated all of its foreign staff from Iraq’s West Qurna 1 oilfield and is flying them out to Dubai, a senior Iraqi official and three other sources told Reuters on Saturday. Production at the oilfield was not affected by the evacuation and work is continuing normally,...