West Texas Intermediate oil fell below $90 for the first time in 17 months amid signs that supplies from Russia, Saudi Arabia and the U.S. are outstripping demand.
October 2, 2014BusinessFuel
Commerce Dept. Allows Some US Oil Exports
The Commerce Department opened the door to more U.S. oil exports as long as the crude is lightly processed, tempering the impact of a law that has banned most such shipments for the past 40 years.
June 25, 2014BusinessFuel
US to Sell 5 Million Barrels of Strategic Oil Reserve
The Obama administration said it plans to sell 5 million barrels of crude from the U.S. Strategic Petroleum Reserve in a test of the distribution system.
March 12, 2014BusinessFuel
Diesel to Slide to $3.81 This Year, DOE Says
Diesel’s retail price will decline to $3.81 a gallon this year — 11 cents below last year’s average but 4 cents over last month’s projection, the Department of Energy reported.
January 8, 2014BusinessFuel
OPEC Maintains Oil Output Level
The Organization of Petroleum Exporting Countries decided Dec. 4 to maintain the current crude oil production level until June in an effort to keep prices stable.
December 4, 2013BusinessFuel
Oil Rises From Two-Week Low
Oil rose from its lowest level in two weeks Sept. 11, on speculation that a U.S. attack on Syria may threaten Middle Eastern oil exports even after President Obama decided to delay military strikes, Bloomberg News reported.
September 11, 2013BusinessFuel
Oil Drops as Storm Concerns Fade
The price of oil dropped after the National Hurricane Center in Miami said there was no tropical cyclone activity in the Atlantic basin, Bloomberg News reported.
August 19, 2013BusinessFuel
Oil Use Falls to Lowest Level in 20 Years on High Prices
The American Petroleum Institute reported demand for oil in February fell to the lowest level for the month in 20 years, according to Bloomberg News.
March 22, 2013BusinessFuel
Valero Energy Corp.’s 4Q Income Increases
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.
January 29, 2013GovernmentBusinessTechnologyEquipmentFuel
Oil-Field Specialty Trucks HOS Exemption Should Be Extended to Others, Carriers Say
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.
October 15, 2012