Oil companies booked tankers to store as many as 9 million barrels of crude in northwest Europe amid signs that space in on-land depots is filling up, a ship-operator said. The glut could get bigger still, given the region is scheduled to load the most cargoes in 4 1/2 years next month. Source Bloomberg
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A new pipeline from Russia’s Arctic fields to Germany will boost Moscow’s share of the European gas market despite competition from Qatar and the United States, and will also mean much less fuel goes via Ukraine, Russian gas monopoly Gazprom said. Source Reuters
Retailers are filing for bankruptcy at a record rate as they try to cope with the rapid acceleration of online shopping. In a little over three months, 14 chains have announced they will seek court protection, according to an analysis by S&P Global Market Intelligence, almost surpassing all of 2016. Source Bloomberg
The United States has fired the opening shot in a latest softwood-lumber war against Canada, with the Trump administration announcing its first batch of duties on imported wood in the neighbourhood of 20%. Source Toronto Sun