Bloomberg Oil headed for its first annual decline since 2015, slumping more than 20 percent in a turbulent year that saw fears of supply scarcity turn to expectations of a surplus. Crude surrendered early gains on Monday and fell as much as 1.3 percent in New York, on track for the worst quarterly drop since the last oil market crash …

Bloomberg The record jump in prices in Europe’s biggest power market could extend well into 2019. Booming European carbon futures, Germany’s plan to shut some of its dirtiest plants, and low water levels after an extremely dry summer are all factors driving the region’s electricity prices. While 2018’s surge probably won’t be repeated, Wood McKenzie Ltd says average rates for …

Bloomberg Russian officials and executives from its biggest oil companies put on a brave face, even as Brent trades near 16-month lows. “The drop in oil prices hardly bother us because our budget is based on $42 a barrel,” First Deputy Prime Minister Anton Siluanov told reporters ahead of a meeting between President Vladimir Putin and big business in Moscow. …