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(Bloomberg) — Oil inventories are falling around the world at a record pace and will continue to drop for months as the disruption to Middle East supplies from the Iran war intensifies, according to the International Energy Agency. Read More

(Bloomberg) — Ghana is taking steps to buy Lukoil PJSC’s stake in an offshore oil block to gain greater control over future output in the country, according to people familiar with the matter. Read More

(Bloomberg) — Shares of Vistry Group Plc plunged the most in more than two months after the UK housebuilder halted its buybacks and warned that the steps it’s taking to generate cash and slash debt will hit profits more than expected. Read More

(Bloomberg) — India may need to increase retail fuel prices if the conflict in the Middle East drags on, Reserve Bank of India Governor Sanjay Malhotra said. Read More

MONTREAL — Converium Capital Inc. (“Converium”), which manages funds that own shares of CVS Group plc (LSE: CVSG) (“CVS Group” or the “Company”), today announced that it has sent a letter to CVS Group’s Board of Directors (the “Board”) highlighting the Company’s undervaluation and urging the immediate initiation of a £100 million share buyback, equivalent to 12.5% of the Company’s current market capitalization. Based on discussions with shareholders, Converium believes there is clear and broad support for this action. Read More

(Bloomberg) — Siemens AG will repurchase as much as €6 billion ($7 billion) of shares after orders across the company’s key divisions climbed against a demanding environment.  Read More

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