Oil above $58 on U.S. shale report, Mideast tension

Crude oil rose on Tuesday after a forecast that U.S. shale oil output would record its first monthly decline in more than four years and on tensions in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war. Brent crude (LCOc1) was up 32 cents at $58.25 a barrel by 1339 GMT, while U.S. crude (CLc1) was up 57 cents at $52.48. The U.S. Energy Information Administration

Apple expected to quickly ramp up smartwatch production

Apple’s website lists shipping times in June for some models, and four to six weeks for others, suggesting the company is straining to meet demand. Munster, who thinks Apple will sell 2.3 million watches in the April-June quarter, expects the company to ramp up production between mid-May and June. For comparison, about 720,000 Android-powered smartwatches offered by companies including Samsung Electronics Co Ltd and Sony Corp were shipped in all