By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose on Wednesday after government data showed U.S. crude and fuel inventories fell, offsetting worries that rising coronavirus cases might reduce demand. Brent crude rose $1.16, or 1.5%, to $80.10 a barrel by 10:55 a.m. EST (1555 GMT). U.S. West Texas Intermediate (WTI) crude rose $1.25,…
By Stephanie Kelly NEW YORK (Reuters) -U.S. crude stocks, gasoline and distillate inventories fell last week, while U.S. oil production rose to the highest since May 2020, Energy Information Administration data showed on Wednesday. Crude inventories fell by 3.6 million barrels in the last week to 420 million barrels, compared with analysts’…
By Medha Singh and Anisha Sircar (Reuters) – The Dow inched towards an all-time high on Wednesday, on a boost from retailers Home Depot and Nike, while record daily U.S. COVID-19 infections kept gains in check amid low liquidity in the final week of the year. Home Depot and Nike Inc advanced 1% and…
By Jonathan Stempel NEW YORK (Reuters) -The U.S. Securities and Exchange Commission charged Medallion Financial Corp and its president with fraud for trying to inflate the stock price of the lender to taxicab medallion buyers, amid competition from Uber and Lyft. Medallion shares plummeted $3.83, or 45.3%, to $4.62 in morning trading, after earlier…
(Reuters) – The U.S. trade deficit in goods mushroomed to a record in November as imports surged and exports slipped. The goods trade deficit widened last month by 17.5% to $97.8 billion from $83.2 billion in October, the Commerce Department said on Wednesday. That exceeds the previous record deficit set in September of $97…
