BEIJING - Oil rose in early Asian trading on Thursday on rising expectations the Federal Reserve will cut interest rates in September, and as the market rebounded from a selloff related to growing U.S. inventories and an OPEC+ plan to increase supply.
Traders are also viewing the selloff on the back of U.S. inventory data as "overdone", ANZ analysts said in a note. However, the Fed's interest rate path is far from a foregone conclusion. U.S. services sector activity, which accounts for the vast majority of the country's economic output, returned to growth in May following a contraction in the previous month, in a shift that could potentially weaken the case for interest rate cuts.
In an update posted at 9 p.m. last night NYSE said it would "bust" all the "erroneous" trades of Berkshire Hathaway stock at or below $603,718.30 a share.Trump Floats Jailing Political Enemies, Attacks E. Jean Carroll In Wild Interview