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, 2016Search
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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, 2016OPEC 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, 2016Residents 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, 2016OPEC Said to Work on Oil Deal to Restore Unity
OPEC is making a last-ditch effort to rescue an organization many dubbed dead only weeks ago by working on a deal to restore unity among some of the world’s largest oil exporters as ministers gathered in Vienna.
May 31, 2016Diesel Climbs 2.5¢ to $2.382
The U.S. retail diesel average price jumped up 2.5 cents to $2.382, the Department of Energy said, increasing for the 14th time in 15 weeks.
May 31, 2016Forward Air CFO Rodney Bell to Retire, XPO’s Michael Morris to Take Post
Forward Air Corp. announced that Chief Financial Officer Rodney Bell will retire on June 27 and that Michael Morris, an XPO Logistics executive, will replace Bell in the post.
May 29, 2016Diesel Average Rises 6¢ to $2.357
As crude oil prices continued to advance, the U.S. retail average price of diesel and gasoline rose with it, both jumping about 6 cents per gallon.
May 30, 2016Oil Eases Gains After Exceeding $50 for First Time This Year
Crude prices in New York and London briefly breached the long-anticipated $50-a-barrel barrier May 26, with West Texas Intermediate touching as high as $50.21 before paring gains and closing at $49.48 on the New York Mercantile Exchange.
May 26, 2016EPA Proposes Increase in Biodiesel for 2018
The Environmental Protection Agency wants U.S. fuel distributors to move 2.1 billion gallons of biodiesel in 2018 as part of the continuing increase in the nation’s renewable fuel standard, the agency said.
May 24, 2016