Auto Industry News

Musk, Twitter co-founder Jack Dorsey and investors in the deal had previously suggested moving away from advertising and seeking revenue from subscriptions and other means.

As Ford, General Motors Co and other companies began to realize they would need to step up investment over a longer period of time, "it was never clear what the financial returns were going to be" on automated vehicles, Evangelos Simoudis, an investor, author and corporate adviser

Brent crude futures for December delivery settled at $93.26 a barrel, down 24 cents, 0.3%, after rising 2% last week. U.S. West Texas Intermediate crude lost $84.58 a barrel, losing 47 cents, 0.6%. Both benchmarks had fallen by $2 a barrel earlier in the session.

Alison-Madueke was a key figure in the administration of former President Goodluck Jonathan who served as petroleum minister from 2010 to 2015. She has been dogged by corruption allegations since she left office but denies the charges.

Figures on Wednesday showed record U.S. crude exports, a hopeful sign for demand, even as crude stocks rose. The U.S. dollar weakened in early trade on hopes that interest-rate hikes may become less aggressive.

Tesla says the cars still need to be driven with human oversight.

Traders were squaring up positions ahead of the weekend after the WTI's November contract expiry, increasing volatility.

The Group of Seven countries agreed last month to cap Russian oil sales at an enforced low price by Dec. 5 but faced consternation from main players in the global oil industry who feared the move could paralyse the trade worldwide.