From oil shocks to funding strains, Fed confronts new complexities

From oil shocks to funding strains, Fed confronts new complexities
WASHINGTON (Reuters) – The Federal Reserve will conclude its latest policy meeting on Wednesday buffeted by conflicting economic data, under steady pressure from the White House for steep interest rate cuts, and confronted as well with an unexpected jump in overnight borrowing costs that may require action on its own. FILE PHOTO: U.S. Federal Reserve Chairman Jerome Powell speaks at... Read More

Oil steps back on Saudi supply reassurance, focus shifts to Fed

Oil steps back on Saudi supply reassurance, focus shifts to Fed
TOKYO (Reuters) – Oil prices cooled on Wednesday as Saudi Arabia said full oil production would be restored by month’s end while caution ahead of an expected U.S. interest rate cut kept wider financial markets in tight ranges. FILE PHOTO: A man in a bicycle stops in front of an electronic board showing the Nikkei stock index outside a brokerage... Read More

Oil recedes on Saudi supply reassurance, investor focus shifts to Fed

Oil recedes on Saudi supply reassurance, investor focus shifts to Fed
TOKYO (Reuters) – Oil prices cooled on Wednesday as Saudi Arabia said the kingdom had fully restored its oil supply following attacks on its crude facilities although caution ahead of an expected U.S. interest rate cut kept wider financial markets in tight ranges. FILE PHOTO: A man in a bicycle stops in front of an electronic board showing the Nikkei... Read More

Explainer: Why Asia’s biggest economies are backing hydrogen fuel cell cars

Explainer: Why Asia’s biggest economies are backing hydrogen fuel cell cars
TOKYO (Reuters) – China, Japan and South Korea have set ambitious targets to put millions of hydrogen-powered vehicles on their roads by the end of the next decade at a cost of billions of dollars. FILE PHOTO: An Air Liquide hydrogen station for hydrogen fuel cell cars is seen in Paris, France, October 13, 2016. REUTERS/Charles Platiau But to date,... Read More

Toyota banks on Olympic halo for the humble bus to keep hydrogen dream alive

Toyota banks on Olympic halo for the humble bus to keep hydrogen dream alive
TOKYO (Reuters) – Buses may not be the most glamorous mode of transport but at the 2020 Tokyo Olympic games, they will represent Toyota Motor Corp’s (7203.T) best bet for wider acceptance of hydrogen power – technology so far eclipsed by electric vehicles. FILE PHOTO: Toyota Motor Corp. displays the company’s fuel cell bus Sora during media preview of the... Read More

Oil plummets 6% as Saudi minister says supplies fully restored

Oil plummets 6% as Saudi minister says supplies fully restored
NEW YORK (Reuters) – Oil prices tumbled about 6% on Tuesday after Saudi Arabia’s energy minister said the country has managed to restore oil supplies to where they stood before weekend attacks on its facilities shut 5% of global oil output. oil tankers sit anchored off the Fos-Lavera oil hub near Marseille, France, September 17. REUTERS/Jean-Paul Pelissier Saturday’s attacks raised... Read More

Wall Street rises as oil fears recede, market awaits Fed

Wall Street rises as oil fears recede, market awaits Fed
(Reuters) – Wall Street ended higher on Tuesday as the impact of weekend attacks on Saudi Arabia’s biggest oil refinery faded and investors awaited a widely expected Fed interest rate cut on Wednesday. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 17, 2019. REUTERS/Brendan McDermid Stocks closed firmly in positive territory... Read More

Saudi oil attacks came from southwest Iran, U.S. official says, raising tensions

Saudi oil attacks came from southwest Iran, U.S. official says, raising tensions
WASHINGTON/DUBAI (Reuters) – The United States believes the attacks that crippled Saudi Arabian oil facilities last weekend originated in southwestern Iran, a U.S. official told Reuters on Tuesday, an assessment that further increases tension in the Middle East. Three officials, speaking to Reuters on condition of anonymity, said the attacks involved both cruise missiles and drones, indicating that they involved... Read More