NEW DELHI / Reuters Iran’s oil exports to the West surged in May to their highest level since the lifting of sanctions in early 2016 and almost caught up with volumes exported to Asia, a source familiar with Iranian oil exports said. Iran, which used to be OPEC’s second biggest oil exporter, has been raising output since 2016 to recoup …

Bloomberg Mexico has taken the first step in its annual oil hedging program, asking Wall Street banks for price quotes on the put options it buys to lock in prices for the follo- wing year, according to people familiar with the matter. Mexico usually buys put options from a small group of investment banks, starting as early as May but …

Bloomberg The most intense heat of the year across the US East Coast may fire up electricity and natural gas prices as households and businesses crank up their air conditioners over the next several days. Simmering temperatures expected to sweep across the US Midwest, mid-Atlantic and Northeast over the next five days may boost power demand to a nine-month high, …