Bloomberg Petroleos Mexicanos bonds cratered after Fitch Ratings downgraded the state-owned company to just a notch above junk, spurring a slide in sovereign debt and the peso. The yield on Pemex bonds due in 2027 rose 28 basis points to 7.251 percent at 1:02 pm in New York, after jumping as much as 40 basis points earlier in the day. …

Bloomberg Morocco will start intervening to limit fuel prices from March as the margins of fuel distributors such as Vivo Energy and Total Maroc come under scrutiny following nationwide protests last year. “The capping mechanism is coming,” General Affairs and Public Governance Minister Lahcen Daoudi said in a video published on his party’s website, indicating it would be put in …

Bloomberg US oil refiners won’t be allowed to complete shipments of Venezuelan crude they booked before the Trump administration slapped new sanctions on the Latin American nation. US Treasury Department officials have informed some companies that previously contracted cargoes won’t be exempt from a new rule blocking payments to Venezuela’s PDVSA, according to two people familiar with the matter. The …