Fuel

Oil traded near a six-month low as the prospects of a tight global market at the end of the year further receded after the U.S. softened the restart of sanctions against Iran.

DALLAS — Higher oil prices propelled Exxon’s third-quarter profit up 57% to $6.24 billion despite another drop in production. It was Exxon’s best third quarter since 2014, when the effects of a collapse in oil prices had not yet been felt, and a sign that Big Oil is coming back.

The Federal Trade Commission is requiring Marathon to sell five New York convenience stores to settle charges that its proposed acquisition of Express Mart would violate federal antitrust laws.

Tanker trucks laden with oil are journeying almost 500 miles to pipeline and rail terminals. It’s a phenomenon that Ken Boettcher, president of Three Star Trucking Ltd. in Alida, Saskatchewan, started to see three or four months ago when oil shippers around Kindersley, near the Alberta border, began requesting trucks to move their crude, in some cases, as far south as North Dakota.

AUSTIN, Texas — Shell Lubricants announced the launch for fleet customers and noncustomers alike of Shell ProAcademy, an online modular learning tool intended to educate and retain technicians.

BP is gearing up to leave European competitors in the dust, at least when it comes to spending the oil industry’s enormous cash pile. While Total SA and Equinor ASA signaled last week they still are keeping a tight rein on spending, BP showed Oct, 30 it is prepared to take some risks.

AUSTIN, Texas — With the price of diesel steadily rising, Volvo Trucks is promoting the improved fuel efficiency of its new Xceed package that will be available in January on its 2020 model-year VNL 760 and VNL 860 trucks.

The average price of diesel dropped for the second consecutive week, the U.S. Energy Information Administration reported.

OAKLAND, Calif. — Representatives from UPS Inc. and Walmart Inc., two of the country’s largest fleets, said electric vehicles can provide environmental, economic and community benefits, which make efforts to work through challenges surrounding duty cycle, charging infrastructure and cost worthwhile.