Bloomberg French President Emmanuel Macron is calling on container lines to avoid using a new Arctic shipping route to protect the environment. Speaking at the start of the Group of Seven summit in Biarritz in southwest France on Saturday, Macron said France’s biggest shipping line, CMA CGM, has committed not to use the so-called Northern Sea Route being promoted by …

Bloomberg It’s getting tougher to bet on oil in the age of Trump trade tweets and Chinese retaliation, with hedge funds getting it wrong for a seventh time in nine weeks. This time around, short-sellers made their biggest retreat in a year in week ended August 20, slashing by 25% their wagers that West Texas Intermediate crude would decline, data …

Bloomberg A Nigerian high court ordered the government to renew Shell Petroleum Development Co.’s operating license for the Oil Mineral Lease 11 field, which was withdrawn earlier this year, Lagos-based Punch newspaper reported. The Federal High Court in Abuja, ordered the license be renewed for maximum 20 years, and not 30 years the oil major was seeking, the newspaper reported. …