Bloomberg Oil retreated as China’s worsening virus resurgence raised concerns about demand in the world’s biggest crude importer. West Texas Intermediate futures fall as much as 6.2% after authorities in Shanghai said they will lock down half of the city in turns for mass Covid-19 testing. Global growth risks from inflation and tightening monetary policy also hit market sentiments, …

  Bloomberg Argentina, home to some of the world’s vastest gas reserves, is bracing for the unthinkable: rationing one of its chief natural resources. Despite having shale-gas deposits to rival those in Appalachia, which made the US a major exporter, Argentina’s domestic gas production sector has suffered from years of underinvestment that has left it unable to meet domestic demand, …

  Bloomberg India asked power manufacturers to keep importing coal to meet increasing demand for electricity even as prices of the fossil fuel surged. The power companies need to resolve issues related to rising prices and stick to the power-purchase agreement, the Ministry of Power said in a statement. “Not maintaining adequate fuel stocks or not giving availability on any …