U.S. railroads may not be obligated under federal law to carry freight including crude oil and hazardous materials from Jan. 1 if they fail to meet a year-end deadline for implementing new train safety technology, according to a top federal regulator.
It has been more than a decade since U.S. drivers paid so little to fuel up for that last road trip of summer.
U.S. crude rose 6 percent on Friday, notching its first weekly gain in two months, after a rally in gasoline from refinery outages and concerns about strife in Yemen fed a second frenzied day of short-covering in oil.
Aug. 27, 1859: Edwin Drake strikes oil in Pennsylvania with the first commercial well in the U.S.
Clouds parted on the crude oil markets Thursday, as a nearly universal rally on the global equity markets pushed oil back above $40 per barrel and to its largest single-day gain since 2009.
The Michigan Attorney General is warning gas stations in his state not to gouge consumers in the wake of a BP refinery outage in Whiting.
Oil, the lifeblood of many countries that produce and sell it, appears to be rapidly turning into an ever-cheaper economic curse.
The plunge in global oil prices has eroded an important pillar of Saudi Arabia’s strategy of pumping freely to grab global market share: Demand growth that once looked solid doesn’t look so steady anymore, mainly due to concerns about China.
Oil plunged to as low as $37 per barrel early Monday, as concerns about the world’s economic health led to a dramatic selloff on markets and stock indexes around the world.
