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BAGHDAD — Iraq began piping oil from its fields around the disputed city of Kirkuk on Nov. 16, more than a year after exports were halted over troubles with the autonomous Kurdish administration north of the country.

Oil traded near a six-month low as the prospects of a tight global market at the end of the year further receded after the U.S. softened the restart of sanctions against Iran.

Tanker trucks laden with oil are journeying almost 500 miles to pipeline and rail terminals. It’s a phenomenon that Ken Boettcher, president of Three Star Trucking Ltd. in Alida, Saskatchewan, started to see three or four months ago when oil shippers around Kindersley, near the Alberta border, began requesting trucks to move their crude, in some cases, as far south as North Dakota.

BP is gearing up to leave European competitors in the dust, at least when it comes to spending the oil industry’s enormous cash pile. While Total SA and Equinor ASA signaled last week they still are keeping a tight rein on spending, BP showed Oct, 30 it is prepared to take some risks.

Crude posted the biggest decline in eight weeks as a risk-off sentiment spread through global markets. Futures tumbled 3% in New York on Oct. 11. Investors eyed a sixth day of U.S. equity losses along with heightened volatility.

A colossal Canadian oil-sands project may be showing the way forward for an industry many thought would never see new investments.

Within 20 years, oil use will have long since peaked, renewables and natural gas will account for about half of energy supply and the cost of keeping the lights on will plummet. But that still won’t be enough to meet climate goals, according to a forecast from energy and maritime services company DNV GL Group AS.

Airlines are starting to hedge against the risk that fuel prices could be driven higher by rules targeting another industry’s environmental performance.

China’s shipowners are shunning Iran’s oil, while the OPEC producer is using its own tankers to supply top customers as impending U.S. sanctions threaten to disrupt global crude trade.

New rules limiting the amount of sulfur allowed in shipping fuel is expected to cut demand for high-sulfur fuel oil and the sour crude that yields it. In Canada, that could extend — or worsen — the biggest price slump in nearly five years.