BP (BP) issues warnings about weakening oil refining and production margins for its third quarter, a period where crude oil (CL=F, BZ=F) prices fell 17%. Market Domination co-hosts Julie Hyman and Josh Lipton report on these developments. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Luke Carberry Mogan.
British Airways scrapped hundreds of long-haul flights as maintenance issues with its Rolls-Royce jet engines grounded aircraft.
The broader problem is weak demand for refined products such as gasoline and jet fuel amid an economic slump in China, as well as increased supply from new refineries in Asia and the Middle East.