France’s economy slowed for the first time since early 2013 in the second quarter of 2016, hurt by a dip in consumer spending, in a blow to President Francois Hollande ahead of a presidential election. In its third estimate for the period, the national statistics agency revised lower its second quarter growth reading to -0.1 percent. Source Reuters
The Saudi-led Arab military coalition destroyed on Wednesday two boats of the Iran-aligned Houthi rebels threatening a commercial oil tanker in the Red Sea, the United Arab Emirates’ (UAE) state news agency WAM reports. Source: Oil Price
Gazprom has dodged a fine in the settlement of the seven-year-long antitrust dispute with the European Union (EU), after the Russian gas giant agreed to change market behavior and ensure competitive gas prices in Central and Eastern Europe. Source: Oil Price
Shell has made a large deepwater exploration discovery in the U.S. Gulf of Mexico, just 13 miles from its Appomattox project that is expected to start production by the end of 2019, the oil major said on Thursday. Source: Oil Price
