Reserves or no reserves, the outlook remains bleak as long as a major oil and gas trade route remains virtually closed. By Aaron Krolik Reporting from Seoul Reality is starting to set in for the world’s oil traders. Oil futures have again topped $100 a ...

Indian Oil Corporation (IOC), India’s largest state-run refiner, plans to form a joint venture with energy trading giant Vitol early next year, in a strategic move to expand its global crude and fuel trading operations, according to a source familiar ...