Bloomberg OPEC’s decision to pump less is poised to deter some oil traders from hoarding crude at sea. The group’s pledge to cut output and ease a global glut has weakened a market structure known as contango that benefited traders who stocked crude on ships to be sold at a potential profit in the future. The planned reductions have ...

  DUBAI / Reuters Stock markets in the United Arab Emirates rose strongly for a second straight day on Thursday while blue chips in Saudi Arabia and Egypt fell as investors kept booking profits. Dubai”s index added 1.8 percent with trading volume jumping 75 percent from the previous day as mid- and large- sized shares attract foreign funds. Emaar Properties ...

  AFP European stock markets rose on Thursday after the European Central Bank extended its massive bond-buying programme, signalling that the eurozone”s fragile economy can count on its continued support. European bonds also firmed on the prospect of further ECB asset purchases, while the euro slipped against the dollar in very volatile trading. The ECB”s announcement that it will scale ...