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The Baltic Exchange’s TD3C Index, which reflects rates for VLCCs on the Middle-East-to-Asia route, dropped to so-called Worldscale 39.05 on Dec. 13.

TRENTON, N.J. — The New Jersey Legislature is considering charging gas and oil producers fees, and creating a Climate Superfund to clean up toxic waste.

The Biden administration is weighing new, harsher sanctions against Russia’s lucrative oil trade, seeking to tighten the squeeze on the Kremlin’s war machine.

OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs.

The U.S. reversed its forecast for a crude glut next year and is now calling for a small oil-market deficit.

Ascend Elements said it will start to market lithium carbonate, a key component in EV batteries, that it has been able to recycle and refine at its Covington, Ga., facility.

The decline represents the largest weekly drop since Dec. 11, 2023, when prices fell 10.5 cents. At the national level, diesel remains 52.9 cents cheaper than the same week in 2023.

The Biden administration plans to sell drilling rights in the Arctic National Wildlife Refuge, a last-minute maneuver that could complicate the incoming administration’s plans.

FRANKFURT, Germany — Eight members of OPEC+ decided Dec. 5 to put off increasing oil production as they face weaker than expected demand and competing production from non-allied countries.

Liberty Energy CEO Chris Wright is President-elect Donald Trump's nominee to head the Department of Energy. He favors fossil fuels and has doubts about electric vehicles.