Bloomberg A global shortage of heavy crude will create hurdles for America’s key refining belts just as they ramp up gasoline production for summer driving season. In the Gulf Coast, dwindling heavy oil supplies have suppressed refining margins, while Midwest refiners may not reach the high run rates seen last summer. Gulf Coast profits from coking — a process where …

Bloomberg Stocks extended their global retreat on Wednesday as investors fled to bonds, driving yields down to multi-year lows in a fresh wave of risk aversion. Gold advanced. US futures slumped for the S&P 500 and Nasdaq 100 indexes, signalling an opening drop in New York. Declines in miners and tech companies pulled the Stoxx Europe 600 Index lower, after …

Bloomberg South Korea’s $1.3 trillion stock market became the latest victim of the US-China trade war, with its benchmark index losing all of this year’s advance on Wednesday. The Kospi index fell 1.3 percent to 2,023.32 at the close in Seoul, its lowest since January 4. Foreign investors sold a net 360 billion won ($301 million) of Kospi shares in …