#Global: #Oil heads for biggest annual decline since 2008

China stocks close up more than 2 per cent helping the stock market become the best performer among major global bourses this year

China stocks closed up more than 2 per cent on Wednesday, boosted by a late afternoon rally which helped the stock market become the best performer among major global bourses this year. (Photograph: Aly Song/Reuters)

Oil headed for the biggest annual decline since the 2008 global financial crisis as US producers and the Organization of Petroleum Exporting Countries ceded no ground in their battle for market share amid a supply glut... (Read more)

EXTERNAL EXPANSION LTD., www.externalexpansion.net

EU, US extend sanctions on Russia over ‘Ukraine violence’

Co-ordinated approach targets trade, energy, banks, technology, arms and finance sector

The new round of sanctions targets Russian oil, rather than gas, outlawing exports of oil exploration equipment to Russia. About 30 per cent of the European Union’s gas supply comes from Russia.Photograph: Luke MacGregor/Reuters

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