Economics

Prices for oil, fuel cargoes smash record highs as Iran war chokes Middle East supply

Surging oil prices in physical markets — the trading place for oil on ships, rail cars or in storage tanks — have outpaced the already dizzying increases in benchmark futures markets, as refiners and traders across Asia and Europe are snapping up whatever barrels they can secure to plug the enormous supply gap caused by the U.S.-Israeli war on Iran.

bp agrees to sell 12-MMtpy Gelsenkirchen refinery to Klesch Group

Jones Act: U.S. waives shipping regulation to ease fuel, fertilizer deliveries

Under the Jones Act, goods shipped between U.S. ports must be carried on vessels that are U.S.-built, U.S.-flagged and mostly U.S.-owned. Maritime industry unions support the requirement, which sharply limits the number of tankers available for domestic shipments.

Vance, Wright to meet with U.S. oil trade group, acknowledges 'rough road ahead' on gas prices

The U.S. has already announced plans to release crude oil from the nation's emergency stockpile to reduce energy prices, and on Wednesday said it would issue a 60-day waiver to U.S. shipping regulations ease fuel deliveries to the nation's ports.

bp to block union workers from Whiting refinery

Analysis: Licocene Terra, using renewable carbon in hot melt polymers for adhesive formulations

Slovakia considers higher diesel price for foreigners to battle fuel tourism

China's fuel export ban to further tighten Asia supply

RWE to invest €17 B in the U.S. to power data centers

ABB open to pursuing more than one multi-billion-dollar acquisition this year