Fuel

Canadian crude rebounded from a one-year low after inventories fell and Alberta’s premier pledged to defend prices.

Virginia Gov. Ralph Northam on Jan. 28 announced an agreement to make the Portsmouth Marine Terminal a staging area for equipment and other materials owned by Denmark-based energy company Ørsted to expand its wind energy projects throughout the United States.

One month after the International Maritime Organization’s mandate prohibiting the use of heavily polluting bunker fuel in cargo and cruise ships began, oil industry analysts said the diesel fuel market is stable.

Oil traded near the lowest close since mid-October as the market was dominated by alarm that the deadly coronavirus will hurt economic activity in China and beyond.

The U.S. average retail price of diesel fell 2.7 cents to $3.01 a gallon, the Department of Energy reported Jan. 27.

Supporters of a regional pact that would tackle transportation emissions are struggling to win over several New England governors concerned that the climate change initiative will increase gas prices.

Volvo Car AB is counting on tripling sales of plug-in hybrid models this year as a way to avoid paying what could amount to hundreds of millions of euros in European penalties for the sale of its more polluting yet popular combustion-engine SUVs.

America’s largest truck-stop company is rebranding as it grows its market share in both retail fuel and energy divisions.

Though oil slid to an eight-week low, the drop was tempered by an unexpected decline in U.S. crude inventories and as the World Health Organization opted against declaring the virus a global health emergency.

With the U.S. House of Representatives readying consideration of a comprehensive highway bill as early as the week of Jan. 27, Bill Shuster, formerly the leader of that chamber’s transportation panel, argued that an increase in the federal fuel tax is an ideal approach for Congress to consider as a means of funding for the measure.