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Oil prices fall on demand concerns, strong dollar

Oil prices fell in early trading on Friday on worries about demand growth in 2025, especially in top crude importer China, putting global oil benchmarks on track to end the week down more than 2%. U.S. West Texas Intermediate crude futures fell 26 cents, or 0.26%, to $69.12 per barrel. Chinese state-owned refiner Sinopec said in its annual energy outlook, released on Thursday, that China's imports could peak as soon as 2025 and the country's oil consumption would peak by 2027 as diesel and gasoline demand weaken.

Reuters 1 hour ago

U.S. crude exports to Europe expected to fall in Jan as shipping economics weaken

U.S. crude oil exports to northwest Europe are likely to slip early next year after hitting a record high in November, as the arbitrage for transatlantic shipments has slammed shut and freight rates have climbed, analysts said this week. The spread between U.S. West Texas Intermediate (WTI) crude and Brent futures has narrowed to a discount of around $3.40 per barrel over the last two sessions, the smallest closing spread since October 2023. A narrower spread makes it less economic to ship barrels from the U.S. across the Atlantic.

Southeast Asia Has $60 Billion AI Boom, But Its Own Startups Are Missing Out

(Bloomberg) -- Southeast Asia is fast emerging as an investment hot spot for AI leaders like Nvidia Corp. and Microsoft Corp., which are plowing money into cloud services and data centers. But the region’s own young tech companies are failing to capitalize on the boom.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalWhile t

As TikTok Runs Out of Options, This Billionaire Has a Plan to Save It

(Bloomberg) -- Even as TikTok faces a looming ban in the US, Chinese parent company ByteDance Ltd. has made it clear it has no plans to sell the popular video app. Frank McCourt doesn’t seem deterred. Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalA real estate mogul and former owner of the Los Angeles Dodgers, McCourt ha

Kinder Morgan's unit to go ahead with $1.4 billion Mississippi Crossing Project

Kinder Morgan said on Thursday its unit Tennessee Gas Pipeline will proceed with the nearly $1.4 billion Mississippi Crossing Project (MSX Project), strengthening the pipeline operator's position in the Southeast U.S. markets. Shares of the company rose 2.4% to $26.44 in afternoon trade. The project is designed to transport up to 1.5 billion cubic feet per day (Bcf/d) of natural gas and involves the construction of nearly 206 miles of pipeline, the company said.

Farm Slump Dragging Into 2025 to Weigh on Machinery Maker AGCO

(Bloomberg) -- Shares of agriculture machinery maker AGCO Corp. fell the most in more than a month as the agriculture machinery maker said it will be pressured next year as farmers keep struggling with low crop prices.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalNet sales in 2025 will be about $9.6 billion, the Georgia-

US Wheat Extends Losses as Strong Dollar Clouds Export Outlook

(Bloomberg) -- Wheat tumbled as a strong dollar and concerns about oversupply pushed prices lower for a sixth straight trading session in Chicago. Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalTraders shrugged off a US government report showing better-than-expected export sales for the week ended Dec. 12, sending futures

Apple finally added ChatGPT to the iPhone. There's no guarantee it’ll boost sales.

Apple's latest Apple Intelligence updates include ChatGPT integration and the company's visual intelligence. Here's what it's like to use them.

Micron Falls Most in Four Years on Sluggish Sales Outlook

(Bloomberg) -- Shares of Micron Technology Inc., the largest US maker of computer-memory chips, fell the most in more than four years after the company’s revenue forecast missed projections, reflecting sluggish demand for smartphones and personal computers.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousNew York City’s Historic Preservation Movement Is Having a Midlife CrisisDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalSales will be rough

Why Robinhood is a better stock than Coinbase despite a 180% surge this year: Analyst

In the Coinbase vs. Robinhood debate, Dan Dolev said it's Robinhood all the way. Here's why.

Companies That Spent Billions on M&A Are Now Selling for Peanuts

(Bloomberg) -- Companies that spent billions on poorly timed acquisitions in recent years are now offloading those assets at knockdown prices. Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalAlibaba Group Holding Ltd. announced Tuesday it’s going to sell Chinese department-store chain Intime to a local apparel group for $1