Bloomberg The price of one of the most critical materials for the Western world’s economy and defenses is spiking faster than any major commodity. Tungsten, used to harden steel in ballistic missiles and in drill bits, has surged more than 50 percent in the last two months amid growing concern about supply cutbacks in China, where about 80 percent of ...

DUBA / Reuters Saudi Arabian Energy Minister Khalid al-Falih discussed with his Venezuelan and Kazakh counterparts the possible extension of the global oil supply cut pact beyond March 2018, the Saudi energy ministry said. OPEC and other producers, including Russia, have agreed to reduce output by about 1.8 million barrels per day until next March in a bid to reduce ...

Bloomberg Petronet LNG Ltd. has reached an agreement to rework a liquefied natural gas supply agreement with Exxon Mobil Corp., the second such renegotiation by the Indian company for gas supplies after reaching a similar deal with Qatar, according to people with knowledge of the development. Under the new terms, the cost of the gas from the Gorgon LNG project ...

LONDON / Reuters Oil rose as Hurricane Irma weakened after hitting Florida, while Gulf Coast refining continued to recover following storm Harvey. Futures added 0.5 percent in New York after falling 3.3 percent on Friday. The intensity of Irma’s top winds have dropped to 75 miles (120 kilometers) per hour after making landfall Sunday as a Category 4 storm. About ...

Bloomberg When a recovery in crude prices sparks more deals in Norway’s oil industry, BASF SE’s Wintershall AG unit will be among those looking for opportunities. “Once oil prices increase, momentum will occur,” Wintershall Chief Executive Officer Mario Mehren said in an interview. “Norway’s attractive for M&A activities as they take place very transparently and the framework’s stable.” Wintershall has ...

Bloomberg The US is poised to experience its first annual decline in solar-panel installations, as a drop in rooftop demand slows growth in the world’s second-biggest market. Developers added a total of almost 2.4 gigawatts in the second quarter, putting the industry on pace to reach 12.4 gigawatts this year, according to a report on Monday from GTM Research and ...

Bloomberg What a difference a year makes for the European Union. Jean-Claude Juncker, president of the European Commission, will deliver the annual State of the Union speech this week in a more upbeat mood than a year ago, when the 28-nation bloc was buffeted by the UK’s decision to leave and anti-EU parties appeared to be on the march. In ...

Bloomberg The White House said President Donald Trump cut a short-term debt ceiling and government spending deal with Democrats to clear the deck for a major tax bill. But the agreement could be complicating tax efforts by eroding trust within his own party. Not only has the deal sowed doubt among the GOP about its unpredictable president, but it’s also ...

Bloomberg Hurricane Irma weakened as it moved past Tampa, leaving in its wake at least 4.7 million without power and millions temporarily displaced. The center of the system was expected to weaken to a tropical storm this morning and a tropical depression by Tuesday afternoon, the National Hurricane center said in an advisory. A storm surge warning was discontinued for ...

Bloomberg London retained its crown as the world’s top financial center in a ranking that surveys industry professionals, extending its lead over New York and Hong Kong despite ongoing uncertainty about the implications of Brexit. The UK capital fell only two points in the latest Global Financial Centres Index published by Z/Yen and the China Development Institute, the smallest decline ...