Oregon has asked the Federal Railroad Administration to place an open-ended moratorium on oil trains traveling through the state, because preliminary findings of an investigation into the June 3 derailment in Mosier suggest inspectors might not be able to detect the problem that likely caused the crash.
June 21, 2016Equipment, Business, Fuel
Gearing Up for New Engine Oils
The heavy-duty engine oil specification that has been used for about 10 years is set to be replaced by two new ones: CK-4 and FA-4. The pair have been enhanced to withstand the rigors of lubricating hotter-running diesel engines and boost fuel efficiency better than the current offering, known as CJ-4 and marketed under many brands.
June 17, 2016Equipment, Business, Fuel
New Engine Oils Coming in December
Two new types of engine oils are coming to market Dec. 1. The heavy-duty oil specification that has been used for nearly a decade will be replaced by CK-4 and FA-4, and this crucial development is one of the cover stories in this issue of Equipment & Maintenance Update.
June 17, 2016Business, Fuel
Oil in Longest Losing Streak in Four Months as US Supplies Gain
Oil fell for a fifth consecutive day June 14, heading for the longest run of declines since February, as U.S. industry data showed crude stockpiles expanded, exacerbating an oversupply.
June 15, 2016Business, Fuel
Some Hedge Funds Are Betting Oil Will Surge Above $100
Oil investors are buying contracts that will only pay out if crude rises well above $100 a barrel over the next four years — a clear sign some believe today’s bust is sowing the seeds of the next boom.
June 10, 2016Business, Fuel
Oil Rises From 10-Month High as US Stockpiles Seen Declining
Oil advanced from the highest close in more than 10 months before U.S. government data forecast to show crude stockpiles dropped for a third week, trimming a glut.
June 7, 2016Business, Fuel
Eyes Are on Drilling Rigs as Oil Flirts With $50 a Barrel
The oil market is turning its attention back to the United States as more of its rigs return to work after a surge to $50 a barrel, raising concern that a production rebound may stifle crude’s recovery.
June 6, 2016Business, Fuel
Residents Return to Canadian Oil-Sands Town Devastated by Wildfires
Residents are returning home to Fort McMurray, the Alberta, Canada, oil-sands town devastated by wildfires last month. Many are counting on rebuilding efforts to give their trucking businesses a boost following a nearly two-year-long recession caused by the oil industry downturn.
June 2, 2016Business, Fuel
OPEC Decides Not to Set Cap on Oil Output
OPEC will stick to its policy of unfettered oil production after members failed to agree on a new output ceiling.
June 2, 2016Business, Fuel
OPEC Said to Work on Oil Deal to Restore Unity
OPEC is making a last-ditch effort to rescue an organization many dubbed dead only weeks ago by working on a deal to restore unity among some of the world’s largest oil exporters as ministers gathered in Vienna.
May 31, 2016