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Oil slumps 6 percent as equities slide feeds demand worry

Oil prices tumbled more than 6 percent on Tuesday in heavy trading volume, with U.S. crude diving to its lowest level in more than a year, caught in a broader Wall Street selloff fed by mounting concerns about a slowdown in global economic growth.

EU to take first step to disciplining Italy over 2019 budget

The European Commission will on Wednesday take the first step towards disciplining Italy over its draft 2019 budget, backed by euro zone governments worried that Rome's borrow-and-spend plans could trigger another debt crisis that would hurt them all.

Bondholders push back on Mercuria Energy’s DIP proposal for Aegean

NEW YORK (LPC) - Bondholders of Greek fuel services provider Aegean Marine Petroleum Network Inc are objecting to a US$532m debtor-in-possession (DIP) loan from Mercuria Energy Group that could give the Swiss commodities trader a controlling stake in the company and push their recoveries into cents on the dollar territory, three sources familiar with the situation said.

U.S. targets Iran-Russia network over oil sent to Syria

The United States said on Tuesday it had moved to disrupt an Iranian-Russian network that sent millions of barrels of oil to Syria and hundreds of millions of dollars to indirectly fund militant groups Hamas and Hezbollah.

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