The U.S. retail diesel average climbed 2.4 cents to $2.431, the Department of Energy reported, while the volatile price of crude oil slipped below $50 per barrel.
June 13, 2016BusinessFuel
Some Hedge Funds Are Betting Oil Will Surge Above $100
Oil investors are buying contracts that will only pay out if crude rises well above $100 a barrel over the next four years — a clear sign some believe today’s bust is sowing the seeds of the next boom.
June 10, 2016GovernmentBusinessFuel
Pipeline Safety Reform Passes House
Legislation aimed at reforming pipeline safety programs easily passed the U.S. House of Representatives on June 8, setting up a vote in the Senate as early as this month.
June 9, 2016BusinessFuel
Oil Climbs to 10-Month High as US Crude Stockpiles Decline
Oil rose to the highest level in more than 10 months in New York as government data showed U.S. crude supplies declined, reducing a glut.
June 8, 2016BusinessFuel
Oil Rises From 10-Month High as US Stockpiles Seen Declining
Oil advanced from the highest close in more than 10 months before U.S. government data forecast to show crude stockpiles dropped for a third week, trimming a glut.
June 7, 2016GovernmentFuel
Final Phase 2 Greenhouse-Gas Regulation for Trucks Sent to White House for Review
The final version of the Phase 2 federal greenhouse-gas regulation for trucks on June 3 was sent to the White House Office of Management and Budget for review.
June 7, 2016BusinessFuel
Diesel Jumps 2.5¢ to $2.407
The U.S. retail diesel average climbed 2.5 cents to $2.407, the Department of Energy said, increasing for the 15th time in 16 weeks as crude oil flirted with $50 per barrel.
June 6, 2016BusinessFuel
Eyes Are on Drilling Rigs as Oil Flirts With $50 a Barrel
The oil market is turning its attention back to the United States as more of its rigs return to work after a surge to $50 a barrel, raising concern that a production rebound may stifle crude’s recovery.
June 6, 2016BusinessFuel
Residents Return to Canadian Oil-Sands Town Devastated by Wildfires
Residents are returning home to Fort McMurray, the Alberta, Canada, oil-sands town devastated by wildfires last month. Many are counting on rebuilding efforts to give their trucking businesses a boost following a nearly two-year-long recession caused by the oil industry downturn.
June 2, 2016BusinessFuel
OPEC Decides Not to Set Cap on Oil Output
OPEC will stick to its policy of unfettered oil production after members failed to agree on a new output ceiling.
June 2, 2016