Energy

  Bloomberg Mexican consumer companies from Wal-Mart de Mexico SAB to El Puerto de Liverpool SAB may see sales flag when the country raises gasoline prices by as much as 20 percent in January. Retailers may be the most affected by the jump in prices, which risks eroding consumer sentiment and purchasing power amid a weakening peso that has already ...

  Bloomberg Oil climbed to an 18-month high in New York as output cuts by Kuwait and Oman signaled OPEC and its partners are delivering on their agreement to stabilize the market. Futures rose as much as 2.8 percent after adding 45 percent last year, the biggest annual gain since 2009. Officials from Oman and Kuwait told local media they’re ...

  Bloomberg US refiners exported record amounts of oil products last week, taking market share from struggling competitors in Mexico and the Caribbean. Almost 4 million barrels a day of gasoline, distillates like diesel and heating oil, and propane left the country as refiners in Texas and Louisiana processed the most crude in at least 24 years. Demand has grown ...

  Reuters Turkmenistan stopped gas exports to Iran on Sunday in a long-running dispute over arrears, Iran’s state gas company said, days after Tehran said the issue had been temporarily resolved. “Türkmengaz suddenly and … in an illogical manner, contradictory to the agreement, halted gas deliveries to Iran this morning, demanding quick payment of the disputed amount,” the National Iranian ...

  Bloomberg Libya was producing 685,000 barrels of oil per day (bpd), up from around 600,000 a day last month, an official from the National Oil Corporation (NOC) said. Output has risen after a two-year blockade was lifted two weeks ago on major pipelines leading from the western fields of Sharara and El Feel. Production has been resuming gradually at ...

  Bloomberg Mexico is bracing for a series of protests as the opposition threatens a “peaceful revolution,” after the government of President Enrique Pena Nieto announced plans to raise gasoline prices by the most in two decades. Gasoline will soar as much as 20 percent in January as the nation moves away from subsidies that have burnt a hole in ...

  Bloomberg A polar blast that’s poised to sweep the US has turned natural gas into the year’s best performer among major commodities. Frigid weather will sweep the western two-thirds of the nation in the second week of January, stoking gas demand for heating, according to Commodity Weather Group LLC. The deep freeze comes as output from shale basins slows, ...

  Bloomberg With Donald Trump set to enter the White House in January and populists on the march across Europe, political risk will loom large in 2017. Cautious investors may find stability in an unfamiliar place: the oil market. A deal between the Organization of Petroleum Exporting Countries and other producers to limit output won’t simply siphon off some of ...

  Bloomberg Oil made the biggest annual gain since 2009 as OPEC and other producing nations plan to start supply cuts next month to reduce swelling global inventories. Futures rose 52 percent in London this year after closing little changed on Friday. US crude inventories unexpectedly expanded for a second week with a gain of 614,000 barrels last week, the ...

Bloomberg Investors are showing no sign of turning their backs on oil heading into 2017. Money managers’ wagers on rising West Texas Intermediate crude prices are triple what they were at the end of 2015, and are the highest since the start of the crude market crash 2 1/2 years ago. Crude futures settled at the highest in almost 18 ...