Fuel

Oil rose above $60 a barrel for the first time in almost three months after the U.S. and China agreed on the text of a partial trade deal, giving a boost to the fragile outlook for global oil demand.

SACRAMENTO, Calif. — The country’s most populous state could become the first to require a portion of new truck sales be electric or “zero emission” vehicles as California grapples with how to clean up its worst-in-the nation air quality.

Shippers have fewer than three weeks until new rules kick in forcing them to burn cleaner fuels, but the regulations are already redefining key trade routes in the global oil-product markets.

Abundant natural gas resources, an all-electric plant and just a nine-day hop to energy-hungry Asian markets were not enough to persuade Chevron Corp. to pursue its Kitimat gas export project in western Canada, marking a further blow to the country’s beleaguered fossil fuel industry.

NEW YORK — Exxon Mobil won Dec. 10 in a closely watched lawsuit over the costs of climate change, with a judge saying there was no proof the energy giant duped investors about the toll that regulations could take on its business.

WASHINGTON — Higher energy prices lifted U.S. overall consumer prices in November.

A new report by the Environmental Protection Agency Inspector General determined that former agency Administrator Scott Pruitt failed to follow legal and public health safeguards in 2017 when he proposed to repeal an Obama-era regulation limiting the number of glider trucks that could be manufactured annually.

RIYADH, Saudi Arabia — Saudi Arabia’s oil company Aramco gained 10% in its first moments on the stock market Dec. 11 in a dramatic debut that held until closing and pushed its value up to $1.88 trillion, surpassing Apple as the largest listed company in the world.

The North American Council for Freight Efficiency forecasts commercial battery-electric vehicles and fuel cell trucks will be capable of lower total cost of ownership, compared with baseline diesel trucks, in the 2030 time frame.

General Motors Co. loaned the buyer of its half-century-old assembly plant in Ohio $40 million to help the cash-strapped startup roll out an electric pickup truck.