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Oil Prices Set for Biggest Weekly Loss in 5 Weeks

Crude futures are set to post their biggest weekly loss in five weeks, with Brent edging down toward $102 per barrel on Friday, as ample supply and a slow global economic recovery fuelled worries that demand for oil would be hit.Crude inventories in the United States are near record levels as the world's top oil consumer produced more from shale, while shrinking factory activity in China capped fuel demand growth at the world's No.2 user.Improved U.S. jobs and home sales data also sparked worries that the Federal Reserve could soon scale back bond purchases and tighten liquidity in markets.Brent slipped 8 cents to $102.36 by 0431 GMT, stretching its losses into a fourth session. U.S. crude inched down 29 cents to $93.96 a barrel.Both were on track for a more than 2 percent drop this week - their biggest weekly drop since mid-April."There is a lot of supply. Inventories are high in the U.S. and I don't expect a big increase in demand from China," said Ken Hasegawa, a commodity sales man...

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  1. Investors Overreact to Bernanke?

    Deutsche Bank senior U.S. economist Carl Riccadonna gives his outlook for the markets and economy.

  2. Mortgage Rates Higher for a Third-Straight Week

    FBN's Jo Ling Kent breaks down late-morning market news.

  3. Market Wrap for Thursday, May 23: Wall Street Shrugs Off Global Slump

    Thursday's trading session may have been the most glaring example of just how powerful the bull market in U.S. stocks is right now. Even though all of the major aver...

  4. MARKET SNAPSHOT: U.S. Stocks Shake Off Worst Of Drop; Dow Positive

    U.S. stocks recovered and turned mixed Thursday after Japanese equities dived overnight, as global markets reacted to weak Chinese manufacturing data and worries abo...

  5. BOND REPORT: Treasurys Give Up Gains As Equities Recover

    Treasurys lost most of their early gains Thursday as stocks recovered from a sharp morning drop on improving economic data.The 10-year note (10_YEAR) yield, which mo...

  6. BOND REPORT: Treasurys Benefit From Flight-to-safety Bid

    Treasurys were beneficiaries of investors' flight to safety on Thursday as global stock markets posted sharp losses, but lost most of their gains as the day wore on....

  7. MARKET SNAPSHOT: U.S. Stocks Drop, Hit By Fed, Asian Selloff

    U.S. stocks dropped in Thursday morning trade after Japanese equities dived overnight, as global markets reacted to weak Chinese manufacturing data and worries about...

  8. U.S. Mortgage Rates Rose in Past Week

    Average mortgage rates in the U.S. rose for the third consecutive week, potentially slowing some refinancing momentum, according to mortgage-finance company Freddie ...

  9. U.S. New Home Sales Rise; Prices at Record High

    New-home sales increased in April, while prices hit a record high, the latest signs of a stronger housing market as the spring selling season gets underway.Sales of ...

  10. Freddie Mac: U.S. Mortgage Rates Rose Over Past Week

    Average mortgage rates in the U.S. rose for the third consecutive week, potentially slowing some refinancing momentum, according to mortgage-finance company Freddie ...

  11. New home sales rise, prices surge to record highs

    Sales of new single-family homes rose 2.3 percent in April, and prices climbed to record high levels, offering strong proof the sector's rebound trend is intact.The ...

  12. Mortgage Rates Rise For Third Straight Week

    Mortgage rates rose for the third straight week, Freddie Mac reported Thursday. The 30-year fixed-rate mortgage averaged 3.59% with an average 0.7 point for the week...

  1. Are There Risks to the Housing Recovery?

    TBWS Daily Show hosts Frank Garay and Brian Stevens on the outlook for the housing market.

  2. BOND REPORT: Treasurys Ride Higher In Volatile Trading

    Treasurys moved higher Monday as stocks lingered in the red during a topsy-turvy session that saw global markets fall decisively.The 10-year note (10_YEAR) yield, wh...

  3. Tri Pointe Homes CEO: Fed Needs to Slow Bond Purchases

    Tri Pointe Homes CEO Doug Bauer on the outlook for the housing market and the impact of Federal Reserve policy.

  4. MARKET SNAPSHOT: U.S. Stocks End Volatile Day With Modest Loss

    U.S. stocks fell modestly on Thursday, substantially paring intraday losses after upbeat U.S. economic reports and gains for Hewlett-Packard Co. countered worries ab...

  5. Is There a Housing Bubble?

    George Mason University finance professor Anthony Sanders weighs in on rising home prices out West.

  6. Oil Futures Pare Losses To Settle At $94.25

    Oil futures ended little changed Thursday after paring losses as upbeat U.S. data offset lackluster Chinese manufacturing data, giving a mixed picture for energy-dem...

  7. MARKET SNAPSHOT: U.S. Stocks Shake Off Worst Of Drop; H-P Rallies

    U.S. stocks fell on Thursday but traded well off their lowest intraday levels, as upbeat U.S. economic reports and gains for Hewlett-Packard Co. countered worries ab...

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