Reuters LONDON – Oil prices rose over 1% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a U.S. air strike Brent crude futures LCOc1 soared to a high of $70.74 a barrel and was at $69.38 at 1150 GMT, up 78 cents, or more
Los Angeles Times The Trump administration gave official notice Monday that it will pull the United States out of the Paris climate accord, a long anticipated move and a significant step in America’s retreat as an environmental leader. Despite the president’s repeated claims to have already left the agreement, the U.S. is still very much a part of it. Under
Trump touts administration’s moves in Pittsburgh Speaking to a mixed crowd of natural gas industry representatives and rank-and-file western Pennsylvania supporters on Wednesday, President Donald Trump said he is bringing an end to “the war on American energy.” He made the comment during the annual Shale Insight convention inside Pittsburgh’s David L. Lawrence Convention Center. Trump, a Republican, recalled when
Houston Chronicle: The Trump administration is considering an extension of Chevron Corp.’s waiver to operate in Venezuela, albeit with even greater limitations, according to people familiar with the matter. The 90-day sanctions reprieve would allow Chevron to continue its role as the last major U.S. oil producer in the nation beyond the Oct. 25 expiration date. Still, the Treasury Department
Source: Reuters The Trump administration’s effort to cut red tape and speed up major energy projects has backfired in the case of the three biggest U.S. pipelines now planned or under construction. All three have been stalled by successful legal challenges by environmental groups alleging the administration failed to apply the regulatory scrutiny required under the law. The Republican administration
From Reuters Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal. Brent crude LCOc1 settled up 81 cents, or 1.4%, at $59.51 a barrel. U.S. West Texas Intermediate crude CLc1 ended $1.29, or 2.4%, higher
From CNBC Colorado has become the 11th state to adopt California’s zero-emission-vehicle mandate forcing automakers to sell more electric cars in the state. The new rule was passed by Colorado’s air-quality commission by a vote of 8 to 1 on Aug. 23. It requires at least 5% of an automaker’s new car lineup to be electric vehicles, or EVs, by
From Reuters China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including crude oil. The largest refiner in Asia is expected to receive four supertankers carrying 8 million barrels of U.S. crude
From Reuters Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal. Brent crude lost 64 cents, or 1.1%, to settle at $58.70 a barrel, after hitting a session high of $60.17.
From The Houston Chronicle Houston’s Citgo Petroleum is under attack on multiple fronts. Creditors for its parent company want to seize its refineries. It’s at the center of a fight for control over Venezuela. The Justice Department is investigating it and its parent company’s role in an alleged foreign bribery scheme. And its facing mounting pressure to do something about
From Reuters A court in Nebraska on Friday affirmed an alternative route through the Midwest state for TC Energy Corp’s Keystone XL oil pipeline in the latest chapter in the nearly 10-year legal fight over the Canada to Texas pipeline. The ruling lifts one of the last outstanding legal challenges facing the controversial project, which would ship 830,000 barrels per
From Reuters China on Friday said it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global oil demand. Beijing said crude would be among the U.S. products hit by tariffs of 5% as of Sept. 1.
