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Lower oil prices could reduce Colombian state-run oil firm Ecopetrol's profits by up to 12 trillion pesos ($2.76 billion) this year, the company's president warned on Friday. Ecopetrol may also have to scrap production at some fields and focus on those with lower costs, president Ricardo Roa told journalists on the sidelines of an industry event. Crude oil prices were headed for their second-consecutive weekly loss on Friday, with Brent futures at $63.45 a barrel, on concerns of an intensifying trade war between the United States and China.

JPMorgan CEO Jamie Dimon said the US economy faces several crosswinds as the banking giant posted strong growth in revenue and profits last quarter.

(Bloomberg) -- Oil rebounded on Friday, but still notched its second straight weekly decline as the escalating trade war between the world’s two largest economies drove wild volatility. Most Read from BloombergThe Secret Formula for Faster TrainsIn Chicago, a Former Steel Mill Looks to Make a Quantum LeapMidtown Office Building Evacuated on Concerns of Wall CollapseNYC Tourist Helicopter Crashes in Hudson River, Killing SixEven Oslo Has an Air Quality ProblemWest Texas Intermediate futures advan

The Michigan Consumer Sentiment Index fell for the fourth consecutive month in April as worries about President Donald Trump’s tariff policies have raised inflation expectations to their highest levels since 1981.

U.S. energy firms this week cut oil rigs by the most in a week since June 2023, lowering the total oil and natural gas rig count for a third consecutive week, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by seven to 583 in the week to April 11, the biggest weekly decline since June 2024. Baker Hughes said this week's decline puts the total rig count down 34 rigs, or 6% below this time last year.

“There’s been a sharp decline in consumer sentiment, and business sentiment measures have weakened too,” New York Federal Reserve Bank President John Williams said.

(Reuters) -New York Federal Reserve President John Williams said on Friday the Trump administration's current trade policies will accelerate inflation this year, while adding that it's critical for the U.S. central bank to prevent longer-run expectations of price pressures from becoming unmoored. "It's hard to know with any precision how the economy will evolve," Williams said as part of public remarks delivered to the Puerto Rico Chamber of Commerce. "Given the uncertain effects of recently announced tariffs and other policy changes, there is an unusually wide range of outcomes that could transpire."