BlackRock, L&G and UBS among 60 ESG funds holding BP despite pivot
FT analysis finds actively managed funds retained stakes even after the company backtracked on its oil and gas pledge
Economic news
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US to draw down 172mn barrels of oil from SPR as part of global release
400mn barrels of crude made available as governments race to tackle energy shock
Trump’s Iran war pushes petrol past $3.50 in test of US voter patience
Administration has failed to douse surge in fuel prices as Middle East turmoil deepens
FirstFT: IEA launches largest-ever release of oil reserves to counter Middle East energy shock
Also in today’s newsletter: India relaxes rules on Chinese investment, and the Kremlin’s covert campaign to keep Viktor Orbán in power
Cliffwater caps payouts at credit fund as redemption requests surge
Withdrawal requests hit 14% in the first quarter as investors grow skittish on private capital exposure
Oil prices edge higher against backdrop of historic reserves release
400mn barrels of crude made available as governments race to tackle energy shock