Bloomberg Crude prices in America’s oil capital are getting dangerously close to zero. Buyers bidding for crude in Texas, the birthplace of the shale revolution, are offering as little as $2 a barrel for some oil streams, a precipitous markdown from a month ago. The slumping value of physical barrels is raising the possibility that Texas producers may soon have ...

Bloomberg TC Energy Corp’s Keystone XL oil-sands pipeline was a dealt a setback with a judge’s ruling that the US Army Corps of Engineers improperly approved a streamlined permit process without fully evaluating the impact on endangered species. In a legal challenge brought by environmental groups, a federal judge in Montana ordered the agency to conduct further review and barred ...

Bloomberg Chinese refiners are snapping up low-price oil from all over the world as Asia’s largest economy emerges from a virus-driven slump. Varieties such as Alaska North Slope, Canada’s Cold Lake and Brazil’s Lula have been offered at steep discounts to global benchmark prices as sellers scrambled to secure buyers. Processors in China — where throughput is back to pre-virus ...