(Bloomberg) -- Oil rose back above $50 a barrel, extending its longest rally in 1 1/2 years as global risk assets were buoyed by the prospect of a thaw in trade tensions between the world’s biggest economies.

(Bloomberg) -- Venezuela will remap its Caribbean oil and gas prospects in a move that could further stoke a century-long border dispute with Guyana and collide with Exxon Mobil Corp.

(Bloomberg) -- TransCanada Corp. is taking the Canada out of its name.

The Calgary-based firm that was created in 1951 as TransCanada Pipelines Ltd. to bring natural gas to Eastern Canada from Alberta, will change its name to TC Energy in the second quarter.

Crude oil futures posted impressive gains Wednesday, with the West Texas Intermediate (WTI) and Brent benchmarks settling above the psychologically important $50 and $60 thresholds, respectively.

(Bloomberg) -- Saudi Arabia published the first audit of its vast oil reserves since it nationalized its energy industry about 40 years ago, saying its reserves total 268.5 billion, slightly more than the 266.3 billion figure that the government published previously.

(Bloomberg) -- Oil held gains after its longest rally in almost 1 1/2 years on optimism the world’s two largest economies would reach a trade deal and an American crude build-up might slow.

(Bloomberg) -- Heavy Canadian crude surged to the strongest level in more than a year as rail shipments keep rising even as oil rig flanges gulf coast production was curtailed.

(Bloomberg) -- China’s crude oil purchases from the Middle East and West Africa dropped to a four-month low in December, following a buying binge the previous month that saw the Asian country’s stockpiles swell.