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G20 ministers to discuss oil tanker attacks at meeting in Japan – business live

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  • G20 ministers to discuss oil tanker attacks at meeting in Japan – business live

    Oil prices volatile after US blames Iran amid sanctions standoff10.32am BST
    A bit of reaction is coming through on those weak Chinese production data.
    Franziska Palmas, assistant economist at Capital Economics, a consultancy, said:

    Another disappointing batch of activity data in May reinforces our view that growth will probably weaken a bit more this quarter. With consumer and business sentiment likely to sour further as the trade war escalates, additional policy easing will be needed to shore up growth.

    9.48am BST
    Shell Energy Retail’s top boss has apologised to customers after UK energy regulator Ofgem ordered the utility to compensate around 12,000 customers it overcharged on default tariffs – after a price cap was introduced this year.
    Reuters reported that Shell Energy Retail overcharged a sum of £100,737 collectively above the level of the price cap between January and March this year, Ofgem said.
    We’d like to apologise to all customers who were temporarily out of pocket.

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