Bloomberg European Central Bank officials warned that uncertainty and tension over Italy’s expansive budget risk causing damage to the country’s economy in the long-run. “Italy’s current financing conditions are much too tight for a country with weak growth and low inflation,” ECB Chief Economist Peter Praet told Handelsblatt in an interview. Italian central bank Governor Ignazio Visco urged his government …

ABU DHABI / WAM Dana Gas, the Middle East’s leading publicly-listed regional natural gas company, and its partner Crescent Petroleum, have announced achievement of a 30% increase in production capacity at the Khor Mor field in the Kurdistan Region of Iraq, which the companies jointly operate on behalf of Pearl Petroleum. This increase delivers much-needed gas supply to fuel power …

Bloomberg Oil recovered from a one-year low as industry data showing a drop in US crude inventories allayed some of the concern that a new surplus is amassing in global markets. Futures in New York rose as much as 2.7 percent after plunging more than 6 percent. The American Petroleum Institute was said to report a 1.55 million-barrel drop in …