Bloomberg China’s crude stockpiles fell to the lowest level in almost a year amid a global drawdown in inventories that’s being driven by a tighter supply-demand balance and higher costs to hoard oil. Inventories capped a seventh weekly decline last week, dropping to 990 million barrels, according to market intelligence firm Kayrros. While that’s the least since February 2020, stockpiles …

Bloomberg Deutsche Lufthansa AG’s bid to tap a revival in tourism once coronavirus lockdowns ease has put the German giant on a collision course with its former leisure arm, Condor. Lufthansa is using surplus long-haul jets to target sunspots such as Mauritius, the Dominican Republic and Namibia that are expected to recover before the airline’s bedrock corporate markets. As a …

Bloomberg London’s Heathrow airport may be allowed to raise airline fees on a limited basis after Britain’s aviation regulator dismissed the hub’s pitch for a more substantial hike during the coronavirus pandemic. The Civil Aviation Authority (CAA) said it plans to reject Heathrow’s proposal, which the airport reckons would lift fares by 1.20 pounds ($1.44) per passenger, as disproportionate and …