WASHINGTON/NEW YORK U.S. President Donald Trump, faced with mounting anger in the farm belt over policies that allow oil refineries to use less corn-based ethanol, summoned Cabinet members on Thursday to discuss ways to boost biofuel demand, four sources familiar with the matter said.
NEW YORK Oil futures steadied on Wednesday after U.S. government data showed a drawdown in domestic crude stocks but rises in refined product inventories, while lingering worries about the global economy weighed on the market.
NEW YORK U.S. renewable fuel credits for 2019 traded higher on Tuesday, market participants said, following news that President Donald Trump ordered cabinet members on Monday to assuage farmers' concerns over his administration's biofuel policy.
Marquis Energy will cut ethanol production rates at its 100 million gallons-per-year plant in Necedah, Wisconsin, Chief Executive Officer Mark Marquis told Reuters on Tuesday, the latest company to announce output cuts amid weaker margins.
NEW YORK Oil prices rose more than $1 a barrel on Friday, supported by a drop in European inventories and OPEC output cuts despite the International Energy Agency reporting demand growth at its lowest since the financial crisis of 2008.
NEW YORK, Aug 8 Fuel distributors in the U.S.
Northeast are preparing for an uncertain heating oil season this
winter, with some locking in additional contracts, as upcoming
global sulfur regulations are due to pull on distillate fuel
demand, market participants said.
NEW YORK Fuel distributors in the U.S. Northeast are preparing for an uncertain heating oil season this winter, with some locking in additional contracts, as upcoming global sulfur regulations are due to pull on distillate fuel demand, market participants said.
NEW YORK Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world's two biggest buyers.
NEW YORK U.S. Midwest refiners will benefit from increased capability to send product to the U.S. East Coast, traders said, after Laurel Pipeline Company reached a settlement earlier this week that allows bidirectional service on its pipeline to start in October.
NEW YORK Oil prices rose for a fifth day on Wednesday following a larger-than-expected drop in U.S. inventories and after the Federal Reserve cut U.S. interest rates for the first time in more than a decade.