Bloomberg Oil steadied near the highest level in almost four years as fears of a supply crunch outweighed expectations for an increase in American crude inventories. Futures were trading around $75.50 a barrel in New York, up around 0.4 percent. Supply losses from Iran to Venezuela continued to rattle markets, boosting volatility and driving prices higher. The ongoing outlook for ...

Bloomberg Saudi International Petrochemical Co. signed a non-binding agreement to acquire Sahara Petrochemical Co. in an all-share deal valued at just over $2 billion. Saudi International Petrochemical Co., or Sipchem, will issue each Sahara shareholder with 0.8356 new Sipchem shares, the companies said in statements on Wednesday. The deal is valued at about $2.2 billion, according to Tuesday’s closing price. ...

Bloomberg Indonesia is weighing proposals to cut the levy on gains from its sovereign bonds and extend tax breaks to exporters who will park their dollar earnings in local banks for a longer period as part of measures to shore up a weakening currency. Lower bond taxes could attract more inflows and help “deepen domestic financial markets,” Robert Pakpahan, director ...