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U.S. independent oil refiner Valero Energy Corp. said its fourth-quarter net income rose to $1 billion, or $1.82 per share, from $45 million, or 8 cents per share, a year ago.

An hours-of-service waiting time exemption for drivers of “specially constructed” oil-field operations trucks should be extended to include such other oil and gas operations trucks such as those that deliver sand and water, several motor carriers and trade association officials told federal regulators.

Oil rose after two days of decreases on optimism that European finance ministers will make progress on the region’s debt crisis, Bloomberg reported.

The Federal Motor Carrier Safety Administration has pushed back the deadline for public comment about changes to the hours-of-service rules for oilfield haulers.

Stockpiles of crude oil dropped 3.7 million barrels to 366.3 million, in the seven days ended Aug. 10, said the Department of Energy on Wednesday.

Federal officials have approved a permit for the southern leg of the Keystone XL pipeline that will run from an oil refinery in Cushing, Okla., to the Texas coast, the Associated Press reported.

Oil fell more than $1 in early trading Monday after jumping more than $7 on Friday to finish last week near $85 a barrel, Bloomberg reported.

Not long ago, getting rid of used oil was a problem for fleets. These days, for some fleets used oil is now a profit center.