Bloomberg Oil traded near the highest level in almost four years as investors grapple with doubts over OPEC’s ability to replace falling exports from Iran. Futures rose 0.2 percent in New York after closing at the highest since November 2014. Iranian crude and condensate exports declined to their lowest in 2 1/2 years before the impending return of US sanctions. …

Bloomberg Russia’s oil production rose to a post-Soviet high last month as the country completely rolled back the output cuts it had agreed on with Opec, then pumped some more. The country produced a record 11.356 million barrels of oil and condensate a day in September, according to data released on Tuesday by the Energy Ministry’s CDU-TEK statistical unit. That’s …

Bloomberg Iraq exported more than 4 million barrels a day for a second consecutive month in September as buyers sought alternative supplies to Iran ahead of US sanctions. Shipments from Opec’s No. 2 producer were 4.062 million barrels a day, the highest since November 2016 and compared with 4.061 million a day in August, according to Bloomberg calculations from tanker …

Bloomberg In the race to solve a fuel-import crisis in Nigeria, Africa’s richest person faces competition from a swarm of tiny challengers. Billionaire Aliko Dangote is building a 650,000 barrel-a-day refinery in Nigeria that will help cut the nation’s $7 billion annual fuel-import bill. Such is the pressure on its finances, the government is pursuing another option, giving licenses to …

Bloomberg South Africa’s Eskom Holdings SOC Ltd. is still running low on fuel at more than half of its power stations and expects to finish supply contracts in October that will replenish the stockpiles. There are 10 of Eskom’s 15 baseload stations throughout the country that have less than three weeks of coal, Khulu Phasiwe, a spokesman for the utility, …

Bloomberg YPF SA, Argentina’s state-run energy producer, is closing the tap on some of its natural gas wells as the nation’s second recession in three years curbs demand, according to people with direct knowledge of the matter. The company had been investing heavily in shale gas as the government subsidized production to reverse a costly energy trade deficit. But the …

Bloomberg A downbeat mood settled over markets on Tuesday, as fears surrounding the populist Italian government’s fiscal plans topped a list of reasons for caution. US equity futures tracked losses across Europe and Asia, the euro dropped a fifth day, and Treasuries and bunds advanced. Contracts for the S&P 500, Nasdaq and Dow Jones indexes all followed the Stoxx Europe …

Bloomberg After a rally from mid-August gave way to another sell-off through early September, emerging-market investors would be forgiven for being wary of new signs that calm is returning. But with the dollar struggling to make headway and equity valuations in the developing economies near the lowest this year, the scene may be set for more gains. So say commentators …

Bloomberg Another rotation to value has been snuffed out. Bets that the market’s winners will keep winning and that quickly-expanding firms will outperform are once again trouncing a market-neutral portfolio that effectively buys inexpensive stocks and shorts pricier ones. The US momentum and growth factors are at multi-year highs relative to value after lagging for a small stretch in mid-September. …

Bloomberg The money laundering scandal engulfing Danske Bank A/S has Denmark’s political establishment on edge. After living through the crisis of 2008, and the populist wave that followed, some of Denmark’s most prominent political figures say it’s now imperative that voters aren’t left with the same sense of indignation that they felt roughly a decade ago. Morten Ostergaard, the leader …