Bloomberg Oil extended gains toward $58 a barrel as US drillers targeting crude reduced the rig count for the first time in four weeks. Futures added 0.7 percent in New York after rising 0.5 percent. US explorers trimmed the number of rigs by four to 747 last week, according to Baker Hughes data. Hedge funds have boosted bets on rising …

Bloomberg China’s plan to introduce a system to monitor and evaluate the solar-power market will help direct new investments to regions where fewer plants are idle, according to industry researchers. The policy, which targets mostly ground-mounted projects, will provide data on where to avoid and where to invest, so it “will alleviate some idle solar capacity,” said Peng Peng, director …

Bloomberg Nigeria’s rush to keep its citizens supplied with fuel is expected to boost purchases of European gasoline in December, offering a potential respite to European refineries and storage terminals threatened by an oversupply that has battered margins. Nigeria has been on a gasoline buying spree after fuel queues built up at filling stations this month, even as the government …