Fuel

Cummins Inc. reported strong medium- and heavy-duty engine sales amid global growth, despite moderating demand in China, led to increased net income and revenue in the fiscal third quarter.

Marathon Petroleum Corp. is weighing a sale of its Kenai refinery in Alaska as the U.S.’ largest independent crude processor seeks to further streamline operations.

As world leaders discuss the fight against climate change, global oil demand has bounced back above the key level of 100 million barrels a day last seen before the COVID-19 pandemic, according to BP Plc.

The national average price for diesel rose 1.4 cents to $3.727 a gallon, according to Energy Information Administration data released Nov. 1.

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After several years of plant closures and conversions to make renewable fuel, the pressure on American refiners to shut down excess capacity is easing as gasoline demand nears pre-pandemic levels and supplies dwindle.

President Joe Biden’s proposed incentives for U.S. electric-car buyers could be challenged under the North American trade pact, a Canadian auto industry leader warned.

ExxonMobil reversed the losses it suffered last year during the pandemic with a $6.75 billion third-quarter profit as demand pushes the price for a barrel of crude past $80 for the first time in years.

ExxonMobil’s chief executive said Oct. 28 that his company “does not spread disinformation regarding climate change,” as he and other oil company chiefs countered congressional allegations the industry concealed evidence about the dangers of global warming.

Bottlenecks in the global supply chain threaten to drive up renewable-power costs, reversing a decadelong trend that made wind and solar mainstream.