Bloomberg Oil traded below $50 a barrel after OPEC underwhelmed investors with its production-cut extension deal. Futures fell 0.2 percent in New York. Prices closed 1.1 percent lower last week after OPEC agreed to extend limits on crude output through the first quarter of 2018. Saudi Arabia’s Energy Minister Khalid Al-Falih said the oil-cuts strategy is working and that global …

LARNACA / Reuters Iraq may look at hedging part of its crude oil production, the head of the OPEC member’s oil marketer SOMO said, as a way to protect government revenue against the risk of oil price volatility. “It is in our strategy in the future that maybe we will consider hedging part of Iraqi crude … SOMO is floating …

The Manchester terror attack by an alleged IS ‘soldier’ will accelerate the push by the US and its allies to capture the terror group’s strongholds in Mosul and Raqqah. But it should also focus some urgent discussions about a post-IS strategy for stabilizing Iraq and Syria. For all President Trump’s bombast about obliterating the IS, the Raqqah campaign has been …