Oil prices gained on Friday as some oil tankers diverted course from the Red Sea after overnight strikes by the U.S. and Britain on Houthi targets in Yemen, while U.S. Treasury yields eased on news that U.S. producer prices unexpectedly fell in December. Wall Street stocks closed nearly flat after moving between modest gains and losses during the session. U.S. earnings season unofficially began, with major U.S. banks reporting lower profit on Friday in a quarter hit by special charges and job cuts and signs some consumer loans are starting to sour.
About the Author
