Fuel News

The deal, expected to close in the late third quarter, expands Magnolia's presence in the Eagle Ford Shale basin of south Texas.

Brent crude, the international standard, fell 0.4% to $87.76 per barrel but still remained much higher than prewar levels.

The attacks on vessels controlled by Dynacom will unnerve the industry and underline just how perilous the crossing has become since the recent escalation of violence on both sides.

Fuels have spiked faster than crude since the U.S.-Iran war caused the oil market’s biggest supply disruption. The “real bottleneck” is in refining, Morgan Stanley said in a note. 

Lucid the electric vehicle maker, said it isn’t considering a bankruptcy, and so far, the market believes it.

The maintenance shutdown could potentially exacerbate fuel market tightness in northeastern U.S. states that rely on the plant for gasoline and diesel imports.

“Let’s see exactly how it will play out now, because it has been a very recent development,” Volvo Group CEO Martin Lundstedt said during the Q2 earnings call.

The average cost to operate a truck in 2025 was $2.336 per mile — the highest since ATRI’s Analysis of the Operational Costs of Trucking was launched in 2016.

The price for a barrel of Brent crude, the international standard, rose  3.9% to $87.48 per barrel. Oil prices are near their highest level in a month.

Average pump prices stood at $3.98 a gallon as of July 16, according to data from the American Automobile Association — up nearly 20 cents in just 10 days.