Oil ticks up on supply cuts, but rising U.S. output caps gains
SINGAPORE Oil prices edged higher on Monday, with Brent oil set to rise for five out of seven sessions as a global supply glut appears to ease, but rising U.S. production limited gains.
BERLIN Greece must meet commitments it has made under its international bailout plans or else it will end up in an impossible position, German Finance Minister Wolfgang Schaeuble said on Friday.
"If Greece again and again does not do what it has committed to, eventually that will not work," Schaeuble told a business meeting in Saarbruecken in western Germany.
He later added: "The ECB is not actually to blame for our problems - rather the problem is that the structure in the euro zone is such that we have a shared currency without a shared finance and economic policy and that the members - and the ECB never gets tired of saying this - aren't doing what they committed to doing."
Schaeuble originally omitted the word 'not' but the Finance Ministry subsequently issued a statement to Reuters adding it in to clarify his remarks.
(Reporting by Paul Carrel and Michelle Martin)
WASHINGTON U.S. President Donald Trump's first budget proposal will spare big social welfare programs such as Social Security and Medicare from any cuts, Treasury Secretary Steven Mnuchin said in an interview broadcast on Sunday.
LONDON Over the years, euro zone economic growth has been a bit like the Sirens in Homer's Odyssey: singing a song of promise, only to end up pulling you onto the rocks. Will it be different this time?