Bloomberg Oil steadied near $62 a barrel on estimates that US crude stockpiles declined for an eighth week as the rebalancing of global markets continues. Futures added as much as 1.3 percent in New York to the highest intraday level in almost three years. US inventories probably fell by 3.75 million barrels last week, according to a Bloomberg survey before ...

Bloomberg OPEC’s strategy to end a worldwide crude glut is causing havoc for a vital link in the oil industry’s supply chain: the fleet of supertankers that shuttle fuel between continents. The ships’ average earnings plunged last year by more than half to levels not seen since 2009 and far below what shipping analysts had been predicting. Now, the producer ...

TUNIS / Reuters Libya’s National Oil Corp (NOC) said it had won two international arbitration cases over the 220,000 bpd-capacity Ras Lanuf refinery, and called for the refinery to restart as soon as possible. The NOC said in a statement that the arbitration cases, which date to 2013, had been settled in its favour at the International Chamber of Commerce ...

Bloomberg UK Prime Minister Theresa May’s attempt to give her government a 2018 reboot was marred by a chaotic cabinet reshuffle as senior ministers refused to follow her orders. It’s a development that bodes ill for her ability to successfully navigate the next, even trickier stage of Brexit talks. May’s office flagged the events as “a refresh” of her top ...

AMMAN / Reuters Jordan said it had foiled an IS plot that included plans for a series of attacks last November on security installations, shopping malls and moderate religious figures, state media reported. State news agency Petra said the country’s intelligence department had arrested 17 members of a cell and confiscated weapons and explosives that the militant group had planned ...

TUNIS / Reuters One person was killed during clashes between security forces and protesters in a Tunisian town, the government said, as demonstrations over rising prices and tax increases spread in the North African country. A man was killed during a protest against government austerity measures in Tebourba, 40 km (25 miles) west of Tunis, the interior ministry said in ...

Bloomberg North Korea said it would send a high-level delegation to the Winter Olympics in South Korea next month while expressing a desire to resolve issues on the divided peninsula through dialogue and negotiations. Kim Jong Un’s regime plans to send officials, athletes, a cheering squad, art performers, observers, martial artists and reporters to the Games, South Korea Vice Unification ...

BEIJING / Reuters Lashing winds, high waves and toxic gases are hindering dozens of rescue boats struggling to locate missing sailors from a stricken oil tanker in the East China Sea and to extinguish a fire that has burned for the past three days on the ship. The poor conditions, with strong winds, rain and waves as high as 3 ...

Bloomberg Brazil’s combination of political polarization and passion for social media offers fertile ground for fake news in the run-up to this year’s elections, leading fact checkers have warned. Claire Wardle, a Harvard fellow and the director of an organization that coordinated fact-checking efforts during the French and UK elections, said political division combined with widespread use of WhatsApp, a ...

WASHINGTON / Reuters US Vice President Mike Pence will visit Egypt, Jordan and Israel from January 20 to 23, the White House said, embarking on a tour originally planned for last month after President Donald Trump recognised Jerusalem as the capital of Israel. Pence will hold talks with Egyptian President Abdel Fattah al-Sisi, Jordan’s King Abdullah and Israeli Prime Minister ...