Diesel Drops 1.5¢ to $3.136; Oil Close to Bear Market Price
The U.S. average retail price of diesel dropped 1.5 cents to $3.136 a gallon, the Department of Energy reported. Crude oil plunged to $53 a barrel and flirted with a bear market as the tensions surrounding international trade mounted.
June 3, 2019Trump Tariff on Mexican Oil Could Hit Gulf Refiners
U.S. oil refiners could get hit if crude is included in President Donald Trump’s threatened 5% tariff on Mexican goods, although the effect may be tempered by their growing fuel exports.
Energy Secretary Rick Perry Says US Can Make Fossil Fuels Cleaner
The Trump administration is committed to making fossil fuels cleaner rather than imposing “draconian” regulations on oil, gas and coal, U.S. Energy Secretary Rick Perry said May 30.
Oil Advances as Shrinking US Gasoline Supply Brightens Outlook
Oil rose after a government report showed shrinking U.S. gasoline supplies, suggesting more demand ahead for crude as tensions flare in the Middle East.
Oil Shrugs Off US Tariff Hike to Climb on Tighter Supply
Oil pushed higher despite the U.S. imposition of higher tariffs on Chinese goods, as rising tensions in Iran and elsewhere kept the supply outlook tight.
CN Rail Open to Moving Alberta’s Oil-Shipping Deals to Drillers
Canadian National Railway Co. is open to transferring the crude-by-rail contracts that it signed with Alberta to private companies or to striking other arrangements that put its spare shipping capacity to use, CEO Jean-Jacques Ruest said.
May 9, 2019Oil Rises as Middle East Tension Drowns Out Trump Trade Threats
Oil recovered from early declines after President Donald Trump threatened to escalate his trade war with China but also dispatched warships to the Middle East in a warning to Iran.
Two Texas Oil Towns Among Metros With Fastest Population Growth
Two Texas economies are reaping the benefits from the oil boom in the Permian Basin with people “voting with their feet.”
With an Eye on Trump, Refiners Tout IMO Clean Fuel Rule as US Win
U.S. oil refiners, in line for a windfall from new ship-fuel rules, are taking steps to lock in the change quickly, concerned it could fall victim to President Donald Trump’s re-election push.
Gibson Energy Sells Canadian Truck Transportation
Gibson Energy Inc. sold Canadian Truck Transportation for C$100 million, the company announced in a news release.
April 11, 2019