Reuters

Oil prices dipped on Wednesday, as refined product inventories in the United States rose in what the market interpreted as a sign of lackluster demand.

Australia’s economy expanded at the fastest annual pace in over a year last quarter thanks to a long-awaited jump in business investment, but worrying weakness in household spending cast a cloud over the outlook for growth.

Just hours after a Brexit deal crumbled, British Prime Minister Theresa May came under pressure on Tuesday from opposition parties and even some allies to soften the EU divorce by keeping Britain in the single market and customs union after Brexit.

The U.S. Senate Banking Committee on Tuesday voted to approve Fed Governor Jerome Powell to lead the Federal Reserve, sending his nomination to the full Senate for a vote.

The U.S. trade deficit increased more than expected in October, hitting a nine-month high as rising oil prices helped to boost the import bill, suggesting that trade could be a drag on growth in the fourth quarter.

Canada’s hard-hit export sector showed unexpected signs of strength in October, posting the first increase since May on higher shipments to the United States while imports continued to disappoint.

Oil slipped towards $62 a barrel on Tuesday as investors took profits in the wake of OPEC and other producers’ pact to extend output cuts, although an expected drop in U.S. crude inventories lent support.

European shares surrendered on Tuesday to sliding cyclicals, as a rotation out of tech stocks gathered pace and dwindling enthusiasm over a U.S. tax bill weighed on financial services.

Oil prices fell on Tuesday ahead of U.S. crude inventories data, as the market weighed the impact of rising U.S. crude output versus last week’s deal between OPEC and other crude producers to extend output curbs.

Wealthy Russians facing the prospect of targeted U.S. sanctions next year have floated the idea of a special treasury bond to facilitate favorable terms for bringing their cash home, three sources familiar with the scheme said.