Oil

President-elect Joe Biden's administration will crack down on fossil fuels on his first day in office, according to his transition team.

The Biden administration shutting down construction of the Keystone XL pipeline could end thousands of American construction jobs.

Brent crude futures edged up on Tuesday as optimism that government stimulus will buoy global economic growth and oil demand trumped concerns that renewed COVID-19 pandemic lockdowns globally could cool fuel consumption.

Alaska Republican Gov. Mike Dunleavy told Fox Business Network Monday that reported plans by the incoming Biden administration to cancel pipeline permits makes "no sense across the board.”

The $9 billion project, which would move up to 830,000 barrels of crude oil daily from the province of Alberta to Nebraska, has been delayed by legal issues. 

Oil majors bet offering more fresh food and services at gas-station stores can help offset declining oil income.

Oil prices were mixed on Friday as strong import data from China, the world’s biggest crude importer, that boosted sentiment earlier ran into concerns about Chinese cities in lockdown due to coronavirus outbreaks.

U.S. energy independence, a cornerstone of Trump's administration, is being watered down.

U.S. crude oil production has fallen 2 million barrels per day in the last year

Supporters of drilling have viewed development as a way to bolster oil production, generate revenue and create or sustain jobs

Investors focusing on the likelihood of tighter supplies after Saudi Arabia unilaterally agreed to cut output.

Environmental groups and the indigenous people of northeastern Alaska sought a preliminary injunction to block the sale in the ecologically sensitive area

Oil soars as Saudi Arabia makes "magnanimous" move.

Saudi Arabia and Russia deadlocked Monday over whether their producers’ alliance should boost crude output amid a resurgent pandemic, delegates said after a day of talks ended without a deal.

Oil prices edged lower on Monday, the first day of 2021 trading, ahead of a meeting of OPEC and allied producers to discuss output levels for February with fears for first-half demand seeping into the market as the coronavirus pandemic lingers.

Oil rose on Tuesday, for the third time in four sessions, on expectations for rising fuel demand as the United States may expand their pandemic aid payments and a final Brexit deal is set to stabilize trade between Europe and the UK.