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Government, Business, Fuel

Stocks Rally, Crude Oil Jumps on Election Day

I Voted stickers A roll of "I Voted" stickers at a county courthouse in Maywood, Ill. (Charles Rex Arbogast/AP)

U.S. stocks rose as a gust of optimism swept through global equity markets as millions of Americans headed to vote. The dollar weakened and crude oil increased by the most in a month.

November 3, 2020
Government, Business, Fuel

Average Price of Diesel Drops 1.3¢; Oil Prices Plunge

Trucks near Mobil gas station Daniel Acker/Bloomberg News

The national average price of diesel dropped 1.3 cents, according to the Energy Information Administration’s weekly data released Nov. 2. The decline, which comes amid tumbling oil prices, is the eighth in the past nine weeks.

Dan Ronan | Associate News Editor
November 2, 2020
Government, Business, Fuel

OPEC+ Inches Closer to Delaying Output Hike After Russian Talks

An oil pumping jack operates in a Russian oilfield. Andrey Rudakov/Bloomberg News

OPEC+ inched closer to delaying its January output increase, with Russia actively discussing keeping its current curbs for an extra three months as oil markets weaken.

November 2, 2020
Government, Business, Technology, Fuel

Election Outcome Could Stir Up Electric Vehicle Industry

Tesla vehicles charge at a station in San Mateo, Calif., on Sept. 22. Tesla vehicles charge at a station in San Mateo, Calif., on Sept. 22. (David Paul Morris/Bloomberg News)

Both of the major-party presidential candidates have said they support electric vehicles, but a Joe Biden win could bring changes to significantly speed up the adoption of cars and trucks built by the likes of Tesla Inc. and Nikola Corp.

Esha Dey | Bloomberg News
November 2, 2020
Business, Technology, Fuel

Top Electric-Car Battery Maker Wins Approval for Company Split

LG Chem won investor approval on Oct. 30 to spin off its electric-car battery division. SeongJoon Cho/Bloomberg News

South Korea’s LG Chem Ltd. won shareholder approval to hive off its superstar battery business, with investors betting the division has a better chance to thrive as a stand-alone entity.

October 30, 2020
Government, Business, Fuel

Oil Poised for Worst Month Since March With Growing Curbs

An aerial view of workers operating a derrick in Russia. An aerial view of workers operating a derrick in Russia.(Bloomberg News)

Oil headed for its biggest monthly drop since March as renewed lockdown measures to contain the coronavirus threatened to upend a shaky demand recovery.

Andres Guerra Luz | Bloomberg News
October 30, 2020
Business, Fuel

Exxon Warns of $30 Billion Shale Writedown Amid Record Loss

Signage at an Exxon gas station in Houston on Oct. 28. Callaghan O'Hare/Bloomberg News

Exxon Mobil Corp. warned it may take up to $30 billion in writedowns on natural gas fields as crashing energy demand and prices spurred a historic losing streak.

Kevin Crowley | Bloomberg News
October 30, 2020
Government, Business, Technology, Equipment, Fuel

Fleets Need to Navigate Changing NOx Standards

Dave Williams Dave Williams by Transport Topics

Industry experts noted the speed of emissions regulation changes during the session titled “EPA vs. CARB Regulations: What does this Mean for a Fleet in 2022 and Beyond” during American Trucking Associations’ Management Conference & Exhibition.

Roger Gilroy | Senior Reporter
October 28, 2020
Business, Fuel, Logistics

E-Commerce Boom Offers Lifeline for Oil

An Amazon Prime truck passes workers controlling traffic outside an Amazon fulfillment center. An Amazon Prime truck passes workers controlling traffic outside an Amazon fulfillment center in Staten Island, N.Y., on March 19. (Kathy Willens/Associated Press)

Look across the street from your home-office window: chances are you will see a delivery van.

October 28, 2020
Business, Technology, Fuel, Autonomous

VW’s Traton, Toyota’s Hino to Collaborate on Electrification

Hino Motors autonomous trucks travel in convoy during a demonstration in Japan. Hino Motors autonomous trucks travel in convoy during a demonstration on a test track in Japan in May 2018. (Kiyoshi Ota/Bloomberg News)

Volkswagen AG and Toyota Motor Corp.’s truck subsidiaries are joining forces on battery-electric and fuel cell vehicles, enabling the companies to split the costs of developing technology needed to comply with stricter emission rules.

Christoph Rauwald | Bloomberg News
October 28, 2020

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