US crude slips, Brent ekes out gain after big jump in oil stockpiles

Oil prices steadied on Wednesday near six-month highs after data that showed U.S. stockpiles rose to their highest since October 2017, countering fears of tight supply resulting from OPEC output cuts and U.S. sanctions on Venezuela and Iran.

U.S. West Texas Intermediate crude futures settled 41 cents lower at $65.89 per barrel, down more than half a percent. The contract hit $66.60 a barrel on Tuesday, highest since Oct. 31.

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Ford’s earnings proved the automaker’s risky bets are paying off — and investors are buying in

For the last several years it seemed like Ford Motor could do nothing right, at least by Wall Streets standards. Now suddenly, its a different story.

Shares of the second largest automaker on Friday surged past the $10 mark for the first time since last August. The stock, which has a market value of $41.5 billion, rose more than 10% Friday, logging its best performance since April 24, 2009. The surge capped off a seven-week streak of weekly gains that have boosted the shares 23.6%.

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Starbucks CEO calls Chinese rivals’ use of discounts unsustainable as Luckin Coffee prepares for IPO

Starbucks CEO Kevin Johnson said Friday that the companys rivals are focusing on short-term gains, while Starbucks is pursuing a more sustainable plan for growth.

Some of those competitors are competing through heavy, heavy discounts that we dont believe are sustainable, Johnson said Friday on CNBCs Squawk on the Street.

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