Fuel

Democrats and Republicans on the tax-writing Ways and Means Committee in the House demonstrated a rare show of bipartisanship Feb. 6 by endorsing stakeholders’ consistent calls for investing in multimodal connectivity.

The Environmental Protection Agency announced the final rule that sets the biomass-based diesel statutory minimum requirement at 2.43 billion gallons for 2021, the same level as the 2020 requirement.

Oil traders and sellers are making more inquiries for supertankers to hoard crude at sea in the latest indication of the crushing impact the coronavirus is having on demand in the world’s biggest importer.

The California Air Resources Board started an initiative to promote zero-emission freight equipment at transportation hubs, such as ports, distribution centers, airports and rail yards.

The U.S. average retail price of diesel fell 5.4 cents to $2.956 a gallon, the Department of Energy reported Feb. 3.

Oil traders in Asia are expecting refineries to cut operating rates and extend shutdowns as the spread of coronavirus stops people from flying or traveling by road.

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.