The IEA said global oil demand to May from January grew at its slowest since 2008, hurt by mounting signs of an economic slowdown and a ramping up of the U.S. Prices have lost more than 20 percent since hitting their 2019 peak in April. Reports that Saudi Arabia, the world's biggest oil exporter, had called other producers to discuss the slide in crude prices might also have supported the market, analysts said.
Elon Musk's boasts about the safety of Tesla's vehicles earned him a slap on the wrist from U.S. regulators past year, newly released documents show. Tesla's electric vehicles are best known for its high-tech features such as its autopilot system. The agency said its crash tests combine into an overall safety rating and that it doesn't rank vehicles that score the same ratings.
Under the bank's risk case, marked by a further escalation of the trade fight, prices could go as high as $1,600, he said. Global cues, such as sustained trade war concerns and a massive fall in the Chinese yuan and other emerging markets (EMs) currencies, affected the gold price volatility.
U.S. President Donald Trump on Wednesday said his tough stance on China's economic and trade policies would ultimately benefit the American economy, even as Beijing signalled it could strike back by curbing sales of chemicals known as rare earths that are used in everything from iPhones to military equipment.
A second Shanghai-based trader said trade talks that were scheduled for September in Washington, prior to the latest US tariff threat, now seem unlikely, adding further pressure on the Chinese currency. The central bank on Thursday set the starting point for the yuan's daily trading at 7.0039 to the USA dollar - the first time since 2008 that the level was set below the politically sensitive level of seven to the dollar.
Walmart is reportedly removing signs, displays, and even video game demos that showcase violence. A petition started by a junior Walmart worker in California to protest the retailer's sale of firearms has gathered more than 50,000 signatures on Friday.