Oil dipped slightly last week on a weaker demand outlook while Russia cast doubts on the timing of a decision to extend supply cuts led by the Organization of Petroleum Exporting Countries. Wagers on lower Brent prices rose by the most since June through the week to Nov. 14 amid uncertainty over Saudi Arabia’s push to prolong output curbs. Yet an extension remains likely, according to PVM Oil Associates Ltd. “It is widely believed that OPEC, together with 10 non-OPEC countries, will roll over their production for the whole of 2018,” said Tamas Varga, an analyst at PVM in London. Click Read More below for additional information.

The flipping of the calendar brought with it increases in the minimum wage in select states across the country. Nineteen states increased their minimum wages on Jan. 1, raising earnings for more than 8.3 million workers (list of states at end of article). For the first time, there are more workers in states with a $15 or greater minimum wage than in states with the federal minimum of $7.25, according to the Economic Policy Institute. In addition, 47 cities and counties raised their minimum wages, adding to the number of workers likely to get larger paychecks. The state with the biggest increase in 2026 is Hawaii, where the minimum wage increased by $2 per house, rising from $14 to $16. Other states with minimum wage increases include Arizona, California, Michigan, New Jersey and New York. With the 2026 increases, Washington maintains its position as the state with the highest minimum wage in the country, with workers receiving $17.20 per hour. New York City is next, at $17 per hour (the increase also applies to New York’s Long Island and Westchester.)

American Dollar to Canadian Dollar = 0.801619; American Dollar to Chinese Yuan = 0.156162; American Dollar to Euro = 1.153148; American Dollar to Japanese Yen = 0.008782; American Dollar to Mexican Peso = 0.048496.