China Cuts Fuel Prices 1st Time Since July as Crude Drops

China will cut gasoline and diesel prices tomorrow for the first time since July, threatening to reduce refiners’ processing margins in the world’s second- biggest oil-consuming nation.

Oil Reaches $95 a Barrel on Housing Permits, Middle East Tension

Oil climbed above $95 a barrel for the first time in three months as U.S. building permits reached a four-year high and on concern that Israel will strike Iran and disrupt supplies from the Middle East.