Bloomberg Gasoline in New York jumped the most in almost eight years, and its premium to crude prices soared 60 percent after an explosion and fire in Alabama shut the largest fuel pipeline in the US, killing one person and injuring more. Traders rushed to book cargoes from Europe. December-delivery gasoline rose as much as 15 percent to the …

  Bloomberg With the enthusiasm around its industrial transformation stalled, General Electric Co. is hoping for a boost from an oil megadeal that has already won the backing of the activist investor Nelson Peltz. Chief Executive Officer Jeffrey Immelt is merging the company’s oil and gas unit with Baker Hughes Inc. to create a behemoth capable of both weathering the …

  Bloomberg On Tuesday, IHS Markit’s Purchasing Managers Index showed input prices rose to their highest level in five years, nearing a record high since the survey first began tracking business costs back in 1992. Hard UK inflation data has yet to show a big uptick in prices but a surge in input costs for UK manufacturers foreshadows the looming …