Bloomberg The US agency overseeing aviation safety loses its chief at midnight with no replacement in sight—days after President Donald Trump took credit in a tweet for the airlines’ safest year on record. Federal Aviation Administration head Michael Huerta, who rose unexpectedly to lead the agency in 2011 after the sudden departure of his predecessor, will step down at the …

Bloomberg King Salman ordered extra pay for Saudi government workers and soldiers this year after the implementation of value-added taxation and a surge in fuel prices stirred grumbling among citizens. Royal orders issued early on Saturday restored an annual pay raise for Saudi civil servants, suspended as part of attempts to rein in a hefty public-sector wage bill. The king …

Bloomberg Oil had its strongest opening week for any year since 2013 as refiners and exporters whittled away at crude inventories tucked away in US storage tanks. Futures rose 1.7 percent this week in New York. The pull on oil stockpiles in the world’s biggest economy accelerated to 7.42 million barrels last week, a level last seen in early August. …

Bloomberg The Trump administration is proposing to open almost all US coastal waters to oil drilling, including those off California and Florida where activists have fought for decades to spare delicate ecosystems from oil spills. The proposal will go far beyond President Donald Trump’s April order directing the Interior Department to consider auctioning oil and gas leases in the Arctic …

LONDON / Reuters OPEC deepened compliance with an oil supply-cutting deal in December due to a further decline in Venezuelan output and extra cuts by Gulf exporters, a Reuters survey found, showing strong commitment to the deal despite higher prices. Adherence to the curbs rose to 128 percent from 125 percent in November, the survey found. The Organization of the …

Bloomberg Saudi Arabia cut February pricing for most of its crude sales to the US for a second month even as the world’s largest oil exporter ships record-low volumes to American buyers in an effort to help trim a global glut. While producers often reduce prices to stimulate sales, Saudi Arabia is cutting shipments to the US market to help …

Bloomberg Siemens Gamesa Renewable Energy SA is in final negotiations to supply about 700 megawatts of wind turbines for power plants in Brazil, according to people familiar with the talks. The deals are to supply equipment for projects that Voltalia SA, EDP Renovaveis SA, Enel Green Power SpA, and Neoenergia SA are developing in northeast Brazil, according to the people, …

Bloomberg One of the key gauges of oil market strength hasn’t looked this good for bulls since 2014. West Texas Intermediate futures closest to expiry are trading at the biggest premium to the next month in more than three years, as inventories plunge at the key storage hub of Cushing, Oklahoma. Stockpiles at Cushing — the delivery point for WTI …

Bloomberg Natural gas surged to 60 times the going rate as howling blizzard conditions stoked demand for the furnace fuel across the US Northeast. Spot prices for the fuel used to heat homes and generate power reached a record $175 per million British thermal units in New York, according to Consolidated Edison Inc. That’s a far cry from the $2.93 …

Bloomberg The first augmented-reality glasses with Amazon’s Alexa voice assistant will be shown next week at CES in Las Vegas—manufactured by a 75-employee company rather than the e-commerce giant’s growing devices division. Vuzix Corp. will show off a pair of smart glasses that can talk to Amazon.com Inc.’s voice-activated digital assistant and display information to the wearer’s field of view, …