Headlines 

Stricken Iranian Oil Tanker Sinks in East China Sea After Blast

The Iranian oil tanker Sanchi sank into the East China Sea on Sunday afternoon after a blast, causing a "serious" oil spill that covered 10 square kilometers (3.9 square miles), state television reported, citing China’s State Oceanic Administration. The oil from the tanker was still burning, China Central Television reported Sunday. A State Oceanic Administration official reached by phone said the administration is collecting data from the spill area, and the administration said on its website that the spill will have an impact on the environment. All 32 crew members…

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Headlines 

Norway Idea to Exit Oil Stocks Is Shot Heard Around the World

Norway’s unloading its shares of Exxon Mobil Corp., Royal Dutch Shell Plc and other oil giants to diversify its holdings and guard against drops in crude prices. European oil stocks fell. Big Oil is under pressure, read more here Norway’s Finance Ministry, which oversees the fund, said it will study the proposal and will take at least a year to decide what to do. The fund has already sold off most of its coal stocks. “People are starting to recognize the risks of oil and gas,” said Jason Disterhoft of…

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