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“While this is a clear sign that low prices will lead to less production, it was not enough to convince people yesterday”, Commerzbank senior oil analyst Carsten Fritsch said. Meanwhile, Nymex September West Texas Intermediate Crude dropped 4.7 per cent, or $2.02, to...

The secretary of the Iranian Supreme National Security Council (SNSC) indicated on Thursday that it has almost finished examining Tehran’s landmark nuclear deal with world powers but will announce no conclusion before the US Congress does.

The US can not persuade countries like India and China to join the Iranian sanctions regime again, Secretary of State John Kerry on Wednesday said as he warned the Congress against rejecting the nuclear deal with Iran.

Oil prices dived Wednesday as a government report showed that U.S. crude stockpiles of last week increased unexpectedly. The figure was 2.62 million barrels higher than it was the previous week, and disappointing to economists who had been expecting a decline of 820,000 barrels....

Light, sweet crude for September delivery dropped $1.27, or 3%, to $41.35 a barrel on the New York Mercantile Exchange.

US State Department spokesman John Kirby said that until the concerns about Iran’s past activities are “adequately addressed by the IAEA, there can be no sanctions relief“.

U.S. September crude was down $1.85 at $40.77 a barrel at 11:41 a.m. EDT (1541 GMT), having fallen to $40.60, the lowest front-month price since March 2009. It said markets will be tracking the eurozone, U.S., and Chinese flash PMI data on Friday very closely.

On a day when American Airlines announced it would begin charter service between Los Angeles and Cuba – its first foray into Havana from the west coast – the Obama Administration is quietly pushing for more.

American Airlines’ new charter service between Los Angeles and Havana will operate on Saturdays and is set to launch Dec. 12.

The Dow Jones Industrial Average closed down 33.84 points, or 0.2%, at 17,511.34, after being off as many as 59 points.

Scores of flights were delayed in New York and Washington, the Federal Aviation Administration said, the result of “technical issues” at an air traffic control center in Virginia.

S&P 500 e-minis ESc1 were down 5 points, or 0.24 percent, with 122,128 contracts traded. Germany’s DAX Index slipped 0.2 percent, France’s CAC 40 Index slid 0.3 percent, while the UK’s FTSE 100 Index fell 0.4 percent. Morgan Stanley said the company’s...

The drop by shares of Wal-Mart came after the company reported weaker than expected second quarter earnings and lowered its full-year guidance. The Dow Jones Industrial Average fell 43 points, or 0.2%, to 17,503 at the open.

A report published the tabloid New York Post said the US is going out of its way not to offend the Cuban government by keeping dissidents away from the flag-raising.

In addition, the outage of a 290,000 barrel-per-day distillation unit at BP PLC’s Whiting refinery in Indiana was thought to reduce commercial crude demand, further adding to stockpiles.