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Global oil demand is under pressure from the escalating trade war at the same time that OPEC+ is reviving output, threatening to deepen a supply surplus, the International Energy Agency said.

China will halve tariffs on some $75 billion of imports from the United States later this month, reciprocating a U.S. action and likely satisfying part of the interim trade deal.

Deere & Co. cut its profit expectations for the year as beleaguered farmers and an escalating trade war with China cut into sales.

The U.S. trade deficit widened more than forecast in September to a seven-month high as imports expanded and the merchandise gap with China hit a record amid an escalating tariff war.