By NEW YORK (Reuters) - Oil prices settled lower on Monday, retreating from a session peak above $70 a barrel after attacks on oil facilities in Saudi Arabia lifted prices that high for the first time since the COVID-19 pandemic began.Yemen’s Houthi forces fired drones and missiles at the heart of the Saudi oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports. Riyadh said there were no casualties or loss of property.“The situation evaporated when it became obvious that there was no damage to the largest oil facility in the world,” said Bob...…By NEW YORK (Reuters) - Oil prices settled lower on Monday, retreating from a session peak above $70 a barrel after attacks on oil facilities in Saudi Arabia lifted prices that high for the first time since the COVID-19 pandemic began.Yemen’s Houthi forces fired drones and missiles at the heart of the Saudi oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports. Riyadh said there were no casualties or loss of property.“The situation evaporated when it became obvious that there was no damage to the largest oil facility in the world,” said Bob...WW…

By NEW YORK (Reuters) - Oil prices settled lower on Friday, weighed down by a build in U.S. crude inventories and worries that new pandemic restrictions in China will curb fuel demand in the world’s biggest oil importer.Brent crude futures fell 69 cents to settle at $55.41 a barrel, for a 0.4% change on the week.U.S. West Texas Intermediate (WTI) crude futures fell 86 cents, or 1.6%, settling at $52.27, nearly unchanged from the beginning of the week.Overall U.S. crude inventories surprisingly rose by 4.4 million barrels in the most recent week, versus expectations for a draw of 1.2 million...…By NEW YORK (Reuters) - Oil prices settled lower on Friday, weighed down by a build in U.S. crude inventories and worries that new pandemic restrictions in China will curb fuel demand in the world’s biggest oil importer.Brent crude futures fell 69 cents to settle at $55.41 a barrel, for a 0.4% change on the week.U.S. West Texas Intermediate (WTI) crude futures fell 86 cents, or 1.6%, settling at $52.27, nearly unchanged from the beginning of the week.Overall U.S. crude inventories surprisingly rose by 4.4 million barrels in the most recent week, versus expectations for a draw of 1.2 million...WW…

By NEW YORK (Reuters) - Oil hit an 11-month high just below $57 a barrel on Tuesday, bolstered by Saudi Arabia’s plans to limit supply, offsetting worries that rising coronavirus cases globally would curtail fuel demand.Brent crude settled up 92 cents, or 1.7%, at $56.58 a barrel by after touching its highest level since last February at $56.75. U.S. West Texas Intermediate (WTI) gained 96 cents, or 1.8%, to $53.28.Saudi Arabia plans to cut output by an extra 1 million barrels per day (bpd) in February and March to keep inventories in check.The Saudi cut is part of an OPEC-led deal in which...…By NEW YORK (Reuters) - Oil hit an 11-month high just below $57 a barrel on Tuesday, bolstered by Saudi Arabia’s plans to limit supply, offsetting worries that rising coronavirus cases globally would curtail fuel demand.Brent crude settled up 92 cents, or 1.7%, at $56.58 a barrel by after touching its highest level since last February at $56.75. U.S. West Texas Intermediate (WTI) gained 96 cents, or 1.8%, to $53.28.Saudi Arabia plans to cut output by an extra 1 million barrels per day (bpd) in February and March to keep inventories in check.The Saudi cut is part of an OPEC-led deal in which...WW…

By NEW YORK (Reuters) - Oil prices settled higher on Monday, as OPEC+ producers almost fully complied in July with their global production cut accord, and after U.S. officials said China is in compliance with the first phase of the two nations’ trade deal.Compliance with OPEC+ oil output cuts is seen at around 97% in July, two OPEC+ sources told Reuters. The oil-producing nations have been cutting output by record levels to curb supply and reduce worldwide inventories.China is living up to its end of the trade deal the two parties signed in January, U.S. President Donald Trump said on...…By NEW YORK (Reuters) - Oil prices settled higher on Monday, as OPEC+ producers almost fully complied in July with their global production cut accord, and after U.S. officials said China is in compliance with the first phase of the two nations’ trade deal.Compliance with OPEC+ oil output cuts is seen at around 97% in July, two OPEC+ sources told Reuters. The oil-producing nations have been cutting output by record levels to curb supply and reduce worldwide inventories.China is living up to its end of the trade deal the two parties signed in January, U.S. President Donald Trump said on...WW…

By , (Reuters) - Delta Air Lines said on Thursday it would spend more than $30 million to offset 13 million metric tons of carbon emissions over 10 months last year as part of its pledge to help combat climate change.The Atlanta-based company said its medium-term goal is to replace 10% of its jet fuel, which is currently refined from fossil fuel, with sustainable aviation fuel by the end of 2030.Delta also said it cut emissions by retiring more than 200 older aircraft early in 2020 as it dealt with a plunge in demand from the coronavirus pandemic. Replacement planes will be 25% more...…By , (Reuters) - Delta Air Lines said on Thursday it would spend more than $30 million to offset 13 million metric tons of carbon emissions over 10 months last year as part of its pledge to help combat climate change.The Atlanta-based company said its medium-term goal is to replace 10% of its jet fuel, which is currently refined from fossil fuel, with sustainable aviation fuel by the end of 2030.Delta also said it cut emissions by retiring more than 200 older aircraft early in 2020 as it dealt with a plunge in demand from the coronavirus pandemic. Replacement planes will be 25% more...WW…

By (Reuters) - Amazon.com Inc has ordered hundreds of trucks that run on compressed natural gas as it tests ways to shift its U.S. fleet away from heavier polluting trucks, the company told Reuters on Friday.Slideshow The coronavirus pandemic caused delivery activity to surge in 2020, with truck volumes exceeding 2019 levels on average while passenger car traffic fell. But that increase in road activity means more pollution, as heavier-duty trucks emit higher levels of greenhouse gases than passenger vehicles.Transportation companies are building their stable of electric vehicles to reduce...…By (Reuters) - Amazon.com Inc has ordered hundreds of trucks that run on compressed natural gas as it tests ways to shift its U.S. fleet away from heavier polluting trucks, the company told Reuters on Friday.Slideshow The coronavirus pandemic caused delivery activity to surge in 2020, with truck volumes exceeding 2019 levels on average while passenger car traffic fell. But that increase in road activity means more pollution, as heavier-duty trucks emit higher levels of greenhouse gases than passenger vehicles.Transportation companies are building their stable of electric vehicles to reduce...WW…

By (Reuters) - Amazon.com Inc has ordered hundreds of trucks that run on compressed natural gas as it tests ways to shift its U.S. fleet away from heavier polluting trucks, the company told Reuters on Friday.Slideshow The coronavirus pandemic caused delivery activity to surge in 2020, with truck volumes exceeding 2019 levels on average while passenger car traffic fell. But that increase in road activity means more pollution, as heavier-duty trucks emit higher levels of greenhouse gases than passenger vehicles.Transportation companies are building their stable of electric vehicles to reduce...…By (Reuters) - Amazon.com Inc has ordered hundreds of trucks that run on compressed natural gas as it tests ways to shift its U.S. fleet away from heavier polluting trucks, the company told Reuters on Friday.Slideshow The coronavirus pandemic caused delivery activity to surge in 2020, with truck volumes exceeding 2019 levels on average while passenger car traffic fell. But that increase in road activity means more pollution, as heavier-duty trucks emit higher levels of greenhouse gases than passenger vehicles.Transportation companies are building their stable of electric vehicles to reduce...WW…

By , , (Reuters) - When explosions ripped through a Philadelphia oil refinery last year, the shock waves knocked Felicia Menna’s front door frame out of place. Then came the black smoke.“My throat was closing shut,” recalled Menna, who lives about a mile away. “My nostrils felt like they were on fire.”She went to an emergency room, where doctors put her on a vaporizer device to ease her breathing and treated her with intravenous Benadryl for allergic reactions, according to medical records she provided to Reuters. She was among several dozen people who sought treatment after the blast,...…By , , (Reuters) - When explosions ripped through a Philadelphia oil refinery last year, the shock waves knocked Felicia Menna’s front door frame out of place. Then came the black smoke.“My throat was closing shut,” recalled Menna, who lives about a mile away. “My nostrils felt like they were on fire.”She went to an emergency room, where doctors put her on a vaporizer device to ease her breathing and treated her with intravenous Benadryl for allergic reactions, according to medical records she provided to Reuters. She was among several dozen people who sought treatment after the blast,...WW…

By , WINNIPEG, Manitoba/NEW YORK (Reuters) - U.S. oil refineries are moving aggressively to produce renewable diesel, partly to cash in on Canada’s greener fuel standard before Canadian refiners modify their own plants.Canadian Prime Minister Justin Trudeau’s government intends to present its Clean Fuel Standard this year, aiming to cut 30 million tonnes of emissions by 2030.Renewable diesel, made by processing spent cooking oil, canola oil or animal fats, can be used in high concentrations or without blending in conventional diesel engines.So far, Canadian companies have been slow in...…By , WINNIPEG, Manitoba/NEW YORK (Reuters) - U.S. oil refineries are moving aggressively to produce renewable diesel, partly to cash in on Canada’s greener fuel standard before Canadian refiners modify their own plants.Canadian Prime Minister Justin Trudeau’s government intends to present its Clean Fuel Standard this year, aiming to cut 30 million tonnes of emissions by 2030.Renewable diesel, made by processing spent cooking oil, canola oil or animal fats, can be used in high concentrations or without blending in conventional diesel engines.So far, Canadian companies have been slow in...WW…