91ÊÓƵ

Oil reversed losses as the pace of stockpile builds at the key U.S. storage hub slowed last week.

NEW YORK — Profits fell at ExxonMobil as the global pandemic began to erode oil demand.

Volkswagen AG’s use of technology that helped it to cheat on diesel engine pollution tests violated European Union rules, an EU legal adviser warned in the second setback for the automaker at the bloc’s highest court this month.

Oil rallied on optimism that consumption could gradually return as major producers continue to cut output to counter a global glut.

Startup Amply Power has raised $13.2 million from investors including Soros Fund Management to advance the company’s electric-vehicle charging service for commercial fleets.

Oil resumed losses after a brief bounce higher amid the aftershocks of a major index tracked by billions of dollars in funds exiting near-term contracts for fear prices may turn negative again.

The California Air Resources Board has conditionally approved a slate of regulatory amendments intended to more closely monitor the additives blended into B20 biodiesel that so far have not been deemed effective at mitigating oxides of nitrogen in the alternative diesel fuel.

As engine oil suppliers develop new formulations to protect diesel engines and enhance their efficiency, some are paying particularly close attention to the performance of exhaust aftertreatment systems.

The nationwide average price of diesel fuel continued its fall this past week, declining 4.3 cents per gallon.

Oil slumped below $12 a barrel as the biggest oil ETF said it will sell out of its June WTI futures position, adding to the downward pressure from a huge glut.