-- Oil rose along with broader financial markets after plunging almost 7% over the previous two sessions on signs the demand outlook is deteriorating.Xi to Meet US Business Leaders for Dinner in San Francisco
Supply from the Middle East — the source of about a third of the world’s crude — has been unaffected more than a month after Hamas attacked Israel. Russian shipments are running near a four-month high. In the US, industry data showed crude stockpiles increased by almost 12 million barrels last week, although official data from the Energy Information Administration won’t be released until next Wednesday.
SAN FRANCISCO — Walt Disney Co. on Wednesday reported sharp profit growth for its fiscal fourth quarter while announcing an expansion of its cost-cutting drive under returning CEO Bob Iger. The results topped Wall Street expectations and sent shares in the entertainment and theme park company up more than 3% in after-hours trading. Disney said its net income jumped 63% to $264 million in the quarter that ended Sept. 30, up from $162 million a year earlier.
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