Oil prices rose more than 2 percent on Friday on expectations that a weekend meeting of the world's top oil producers would demonstrate compliance to a global output cut deal, but rising U.S. drilling activity limited gains.
U.S. stocks fell on Thursday, continuing to pull back from the post-election rally, on investor caution ahead of Donald Trump's inauguration as president on Friday.
Oil prices rebounded from a one-week low on Thursday as the International Energy Agency said oil markets were tightening even before cuts agreed by OPEC and other producers took effect.
Shares were meandering in sluggish trading in Asia on Thursday as investors awaited the inauguration of Donald Trump as president.
The Dow Jones Industrial Average slipped, dragged down by declines from Goldman Sachs Group and UnitedHealth Group.
OPEC signaled a falling oil supply surplus in 2017 on Wednesday as the exporter group's output slips from a record high ahead of a deal to cut supply and outside producers show positive initial signs of complying with the accord.
“Gloom, Boom & Doom Report” Editor Marc Faber discussed his outlook for the markets and how investors should adjust their portfolios.
The Dow Jones Industrial Average fell Tuesday as bank shares tumbled.
Oil prices edged higher on Tuesday propped up by a decline in the U.S. dollar and comments by Saudi Arabia that it would adhere to OPEC's commitment to cut output.
U.S. stock futures eased Monday as investors shied away from global equities in favor of perceived safe-haven assets such as gold and the Japanese yen and fresh concerns over Brexit hit the pound.
Oil prices were down on Monday due to doubts that large crude producers will reduce production as promised and on expectations that U.S. production would increase again this year.
Global shares were mostly lower Monday amid worries about Britain's exit from the European Union and a downgrade of Italy's credit rating.
Global oil prices will witness "much more volatility" in 2017 even though markets may rebalance in the first half of the year if output cuts pledged by producers are implemented, the head of the International Energy Agency (IEA) said on Sunday.
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U.S. financial stocks rose Friday, as the start of banks' earnings season reignited buying in the sector after its postelection rally had stalled.
Oil prices fell on Friday and ended the week 3 percent lower on lingering doubts over the extent of OPEC cuts, with sentiment worsened by concerns over the economic health of the world's second-largest oil consumer, China, after it reported the steepest falls in overall exports since 2009.
The S&P 500 and the Dow were set for their worst day since October as the lack of details on economic policy in Donald Trump's speech took the wind out of a record-setting post-election rally.
Oil prices rose nearly 2 percent on Thursday on news that key crude exporters, including Saudi Arabia and Russia, were cutting production as promised in a deal to reduce a global glut and on forecasts of record demand in China.
U.S. stocks lost ground in choppy trading on Wednesday, led by drug stocks after Donald Trump said pharmaceutical companies were "getting away with murder" by charging high drug prices.
Oil prices rose on Wednesday by the most in over a month, boosted as the U.S. dollar weakened following a news conference by U.S. President-elect Donald Trump, and on news that Saudi Arabia had cut exports to Asia.