Fuel

The latest company born out of General Electric Co. expects sales of its industrial engines fired by natural gas to benefit from the spread of renewables such as solar and wind.

The U.S. average retail price of diesel dropped 1.7 cents to $3.338 a gallon as prices for West Texas Intermediate crude oil continued to sink despite concerns that global supplies could fall amid U.S.-imposed sanctions on Iran. It was the third consecutive weekly decline in the price of diesel.

Executives with Pilot Flying J, the largest operator of travel centers in North America, said the company is expanding related services such as urgent care centers and oil field trucking as it celebrates its 60th anniversary this year. At the same time, the company is donating a total of $2 million to more than 20 organizations supporting military families and other community groups.

Nikola Motor Co. announced it would begin production within five years in Europe of a heavy-duty, hydrogen-electric truck designed to be compatible with full autonomy as it expands its business beyond North America.

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.