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Fossil Fuels Losing Cost Advantage Over Solar, Wind, IEA Says

The cost of producing electricity from renewable sources such as solar and wind has dropped significantly over the past five years, narrowing the gap with power generated from fossil fuels and nuclear reactors, according to the International Energy Agency.

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Oil Markets

Aramco Cuts October Crudes to U.S. as Refinery Demand Falls

Saudi Arabia, the world’s largest crude exporter, cut pricing for all October oil sales to the U.S., widening the discount on its Medium grade for the first time in eight months, with refining demand plunging after the end of the summer driving season.

Abu Dhabi's First Gulf Bank Said Raising $1 Billion Loan

First Gulf Bank PJSC, the United Arab Emirates’ third-biggest bank by assets, is seeking to raise about $1 billion from a syndicated loan to boost lending as liquidity in the economy tightens, two bankers familiar with the deal said.