American Dollar to Canadian Dollar = 0.744569; American Dollar to Chinese Yuan = 0.139851; American Dollar to Euro = 1.087743; American Dollar to Japanese Yen = 0.006772; American Dollar to Mexican Peso = 0.058284.

Oil in New York rose above $50 a barrel early last week, before slipping as signs of rising global supply eroded optimism that curbs by the Organization of Petroleum Exporting Countries and its partners are rebalancing the market. The failure of OPEC’s efforts amid expanding output in Libya and Nigeria and lower compliance by some nations has spurred Saudi Arabia to take more action. Prices “are profiting from Saudi Arabia’s announcement that it will be reducing its oil shipments,” said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt. “This announcement is remarkable to the extent that domestic demand declines in September, meaning that more crude oil will be available for export if production remains unchanged.” Click Read More below for additional detail.

Futures in New York slid 2.3 percent. Declines in the equity market, a rising dollar and concern that Trump’s tariff threats will spark a trade war acted as a downward force on crude oil. And at the same time, the Energy Information Administration reported American crude inventories rose by 2.41 million barrels last week, while production jumped to a fresh record. The EIA report also showed gasoline supplies declined for the first time since January and distillate inventories fell for a fourth straight week. Stockpiles at the key U.S. storage hub in Cushing, Oklahoma tumbled for an 11th week to the lowest since 2014. Crude inventories rose by 2.41 million barrels, lower than expectations. Click Read More below for additional information.