News

NEW YORK (Reuters) -Oil prices rose more than 2% on Tuesday as Israel threatened to attack the Lebanese state if its truce with Hezbollah collapses, and as investors positioned for OPEC+ to announce an extension of supply cuts this week. Brent crude futures posted their biggest gains in two weeks, rising by $1.79, or 2.5%, to settle at $73.62 a barrel. Israeli forces have continued strikes against what they say are Hezbollah fighters ignoring last week's truce agreement in Lebanon.

U.S. central bankers on Tuesday said they continue to believe inflation is heading down to their 2% target and signaled support for further interest rate cuts ahead, but none pushed strongly for or against doing so when they next meet to set rates in two weeks. "We have to continue to recalibrate policy - now, whether it will be in December or sometime later, that's a question we'll have a chance to debate and discuss in our next meeting," San Francisco Fed President Mary Daly said on Fox Business Network. Speaking at a Crain's "Power Lunch," Chicago Fed President Austan Goolsbee similarly gave little away on his view of the likely outcome of the central bank's upcoming Dec. 17-18 meeting.

(Bloomberg) -- Oil rose the most in more than two weeks as the US imposed more sanctions targeting Iranian crude and OPEC+ made progress on a deal to keep output off the market.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsWest Texas Intermediate advanced 2.7% to settle near $70 a barrel, the biggest one-day jump since Nov. 18, as OPEC+ delegates said the group is firming up an agreement to dela

(Bloomberg) -- President-elect Donald Trump’s vision for American energy dominance promises “certainty” that will encourage more investments in oil and gas, Alaska Governor Mike Dunleavy said. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThat could entice more spending by companies on acreage in remote stretches of the state, including offshore waters now largely foreclosed to development and p

(Bloomberg) -- Federal Reserve Bank of San Francisco President Mary Daly said an interest-rate cut this month isn’t certain but remains on the table for policymakers.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic Jams“In order to keep the economy in a good place we have to continue to recalibrate policy,” Daly said Tuesday in an interview on Fox Business. “Whether it’ll be in December or some time la

(Bloomberg) -- Short-maturity Treasury yields were poised to end a volatile session lower after several Federal Reserve officials said they backed additional interest-rate cuts as soon as this month.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThe two-year Treasury note’s yield declined as much as four basis points to 4.14%, last seen Nov. 4, reaching session lows in US afternoon trading after

Despite record travel, low-cost carriers are hemorrhaging money and are trying new strategies to stop the bleed.