Syncrude reached the weakest level this year against West Texas Intermediate on expectations that demand will decline as U.S. and Canadian refineries process less. Other Canadian oils also weakened against the benchmark.
BP Plc agreed to sell its Texas City refinery, site of one of the deadliest U.S. industrial accidents in 20 years, to Marathon Petroleum Corp. for at least $598 million in cash, less than BP planned for the deal last year.
Stephen Schwarzman, the billionaire chairman of Blackstone Group LP, is setting up a $300 million scholarship for foreign students to attend China’s Tsinghua University, the alma mater of senior officials including President Xi Jinping.
European Union leaders urged faster integration of the bloc’s power and natural-gas markets to lower energy prices as the U.S. shale-gas revolution widens the EU’s cost gap with its largest trading partner.