Oil prices rose sharply on Tuesday, after Saudi Arabian officials said they are okay with rising prices in the short term. SEE MORE Oil prices firmed on Tuesday after Saudi Arabia indicated it was comfortable with a higher price range ahead of a meeting between major producing countries in Algeria. SEE MORE China will reject new trade talks if President Donald Trump moves ahead with the next round of U.S. tariffs on Chinese products, throwing into doubt the prospect of a diplomatic breakthrough, according to two people familiar with the matter. SEE MORE China vowed to retaliate after the U.S. said it will impose a 10 percent tariff on about $200 billion in Chinese goods next week and more than double the rate in 2019. SEE MORE The U.S. Energy Information Administration has released the September edition of its Short-Term Energy Outlook, increasing its forecast for 2018 ethanol production, but lowering its estimate for 2019 production. SEE MORE