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Bloomberg Oil rose after Saudi Arabia and other Opec+ members signalled their intention to keep supplies constrained, while US President Donald Trump ratcheted up tensions with Iran. Futures in New York jumped as much as 1.7%, before paring some of those gains. Saudi Energy Minister Khalid Al-Falih urged members of Opec+ gathered in Jeddah to “stay the course” on output …

Bloomberg Tesla Inc. is planning to cut the price of its solar panels, and the chief of rival Sunrun Inc. isn’t worried. In fact, Sunrun Chief Executive Officer Lynn Jurich said she thinks it’s great that Tesla gets so much attention. “More attention really raises the boat for everybody,” she said on a call with analysts. “Having Tesla out there …

Bloomberg Efforts by Opec and its allies to balance the global supply and demand of oil aren’t complete because crude inventories continue to rise, according to United Arab Emirates Oil Minister Suhail Mohammed Al Mazrouei. “The job is not complete,” Al Mazrouei told reporters in the Saudi Arabian city of Jeddah. “We are still seeing some inventory buildup and we …

SHARJAH / WAM Real estate transactions valued AED5.2 billion in the Emirate of Sharjah in the first quarter of this year, according to Sharjah Real Estate Registration Directorate (SRERD). The latest figures show that the emirate recorded 13,195 transactions, including 1,131 sales in 122 areas that covered 10 million square feet. Investors from 31 nationalities worldwide were involved in these …

Bloomberg From Colombia to the North Sea, the Middle East to Texas, the global market for crude cargoes is becoming tighter as supplies grow more constrained and risks to production spiral. Prices for actual barrels from the North Sea, Asia, and the Americas are now trading at the highest in half a decade. Key price spreads that show how urgently …

VIENNA / WAM The Opec Fund for International Development (OFID) is contributing $50 million to support energy security and economic growth in Pakistan via a participation agreement with the International Islamic Trade Finance Corporation (ITFC). The ITFC and other financial institutions will provide the remaining balance of the syndicated amount that will enable Pakistan’s Ministry of Finance, Revenue and Economic …

Bloomberg Russia will join the Opec+ talks on Sunday having barely fulfilled its pledged production cuts, but keen to secure a share of any potential output increase. In recent months, Russia has indicated it would welcome a return to production growth, said analysts from Fitch Ratings Inc. and IHS Markit Inc. That’s back on the agenda after pledges by Saudi …

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) signed gold sponsorship agre-ement for two years with The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE), Region-At-Large (RAL) for its activities being held in Africa, the Middle East, South Asia (India, Pakistan, Bangladesh and Sri Lanka), and Turkey. “Empower seeks to reduce emissions by encouraging investors and owners of …

Bloomberg Oil rose as Saudi Arabia reported drone attacks on pumping stations, the latest escalation in Middle East tensions after tankers were hit by sabotage over the weekend. Futures rose 1.2% in New York, reversing the previous day’s drop. Unidentified dro-nes attacked two pumping st-ations belonging to Saudi Ara- mco, forcing the state oil company to suspend operations in the …

Bloomberg The US prepared to hit China with new tariffs even as President Donald Trump said he’ll meet his Chinese counterpart, Xi Jinping, at next month’s G-20 summit, an encounter that could prove pivotal in a deepening clash over trade. The US Trade Representative’s office released a list of about $300 billion worth of Chinese goods including children’s clothing, toys, …