News

By Kathleen Hennessey

February 18, 2014, 11:55 a.m.

WASHINGTON – President Obama moved ahead Tuesday with plans to further tighten restrictions on carbon emissions from trucks and buses, saying the new fuel efficiency rules will reduce pollution, save consumers money and help cut back on oil imports.

"It's not just a win-win, it's a win-win-win," Obama said in remarks delivered from a loading dock at a grocery distribution center. Obama ordered the Environmental Protection Agency and Transportation Department to issue a first draft of the regulations for medium- and heavy-duty trucks by March 2015 and to finalize the rules a year later.

His announcement at a Safeway warehouse in Maryland was the latest in a series of...

By Myra P. Saefong and William L. Watts, MarketWatch

SAN FRANCISCO (MarketWatch) — Oil futures reclaimed the $100-a-barrel level on Wednesday, after Chinese data showed record oil imports for January and key oil producers raised their forecast on global demand growth for the year.

Prices have pulled back from the session’s high, however, after a weekly U.S. government report also released Wednesday revealed a bigger-than-expected rise in crude supplies.
March crude oil CLH4 +0.37%  rose 82 cents, or 0.8%, to $100.76 a barrel on the New

 York Mercantile Exchange, erasing the contract’s 12-cent pullback Tuesday. Prices, which had been trading up at around $101.18, pared their gains immediately after the U.S. supply reported, bounced back, then eased again.

There were plenty of traders willing to short the psychological $100 level, but once the APIs were released after Tuesday’s close, the spot price began to...