Bloomberg Brent crude steadied after Saudi Arabia and Russia pledged to continue supply cuts. Futures rose as much as 0.5 percent in London before paring those gains. Output limits should remain through 2018 as rebalancing may be achieved next year, Saudi Arabia’s Energy Minister Khalid Al-Falih said in a Bloomberg television interview held with his Russian counterpart. Russia is prepared ...

Bloomberg Philadelphia Energy Solutions LLC, owner of the largest oil refinery serving the New York Harbor gasoline and diesel market, filed for Chapter 11 bankruptcy protection. The company, a joint-venture between The Carlyle Group LP and a subsidiary of Energy Transfer Partners LP, filed a petition in US Bankruptcy Court in Delaware. Chief Executive Greg Gatta said in a memo ...

DUBAI / Reuters Saudi Arabia has asked banks for proposals to refinance its $10 billion international syndicated loan and to help the sovereign raise funds through other means, the country’s debt management office said. In addition to the req- uest for proposals (RFP) on the loan refinancing, the government has issued RFPs covering further US dol- lar debt capital market ...