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Bloomberg Oil rose to a four-week high after an industry report signalled a bigger-than-forecast drop in US crude stockpiles, adding impetus to a rally that’s been driven by a tense standoff between Washington and Tehran. Futures in New York gained as much as 2.3 percent. The American Petroleum Institute reported that inventories fell by 7.55 million barrels last week, according …

MEXICO CITY / WAM UAE Ambassador to Mexico Ahmed Hatem Al Menhali met with Mexican Assistant Secretary of Communications and Transportation Carlos Alfonso Moran Moguel. The two sides explored ways of enhancing cooperation between the two countries across different sectors. Al Menhali and Moguel emphasised that their cooperation and partnership would support bilateral projects and initiativ-es, particularly those of overall …

Bloomberg US President Donald Trump said substantial additional US tariffs would be placed on goods from China if there’s no progress on a trade deal after his planned meeting with Chinese counterpart Xi Jinping at the G-20 Summit in Japan. “My Plan B with China is to take in billions and billions of dollars a month and we’ll do less …

Bloomberg Saudi Arabian Oil Co. has the experience and infrastructure it needs to keep crude flowing should supply through the Strait of Hormuz be disrupted, according to the chief executive officer of the state-run producer. “We are increasing our readiness,” Amin Nasser said in an interview in Seoul on Tuesday. “We can supply through the Red Sea and we have …

Bloomberg The best returns in a decade for emerging-market bonds just got a further boost as central banks move towards more easing. Now fund managers must navigate trade tensions and geopolitics that could derail the rally. Investors are optimistic after the Federal Reserve signalled it was ready to cut interest rates and the European Central Bank indicated more stimulus may …

Bloomberg The United Arab Emirates called for de-escalation and a political solution to the tensions gripping the Gulf region after US President Donald Trump abruptly called off a plan for airstrikes against Iran. “Tensions in the Gulf can only be addressed politically,” the UAE’s minister of state for foreign affairs, Anwar Gargash, said on Twitter on Sunday. Tensions are boiling …

Bloomberg Investors in Gulf assets breathed a sigh of relief after US President Donald Trump showed restraint against Iran. Calling off airstrikes and opting for additional sanctions on Iran eases the risk of military combat between the Persian nation and its Arab neighbours, and will probably have a positive impact on GCC spreads, according to Arqaam Capital Ltd. “While GCC …

Bloomberg China has the strength and patience to withstand the trade war, and will fight to the end if the US administration persists with it, China’s state-run People’s Daily said in an editorial on Saturday. The US must drop all tariffs imposed on China if it wants to negotiate on trade, and only an equal dia- logue can resolve the …

Bloomberg Bitcoin breached $10,000 for the first time in about 15 months, recouping more than half of the parabolic increase that introduced mainstream investors to the digital asset before the bursting of the cryptocurrency bubble. “The bounce back of Bitcoin has been fairly extraordinary,” said Geo-rge McDonaugh, chief executive and co-founder of London-based block-chain and cryptocurrency investment firm KR1 Plc. …

Bloomberg Call it the trifecta that gave rocket fuel to the gold market: Powell, positioning and politics. Gold ended the week trading near $1,400 and recorded bigg-est weekly gain in three years. It was Jerome Powell’s signal that Federal Reserve is moving closer to lowering interest rates and a brewing conflict between Iran and the US that lit a spark …