Oil Prices Reach New Record High

US oil producers are leaving no stone unturned in their quest to export light, sweet crude that has swelled to a glut overwhelming the country’s refineries. One option could be to swap US crude for grades produced overseas that are better suited to the US refining complex, but a host of regulatory and market-based obstacles stand in the way of widespread crude swapping. [Fuel Fix]

Major fleet vehicle operators in Europe are searching for alternative fuels in order to comply with regulations requiring 10% of vehicle fuel to come from renewables by 2020. Biofuels already account for 7% of road diesel, but that mandate is being scaled back due to some biofuel downsides and making up the difference is proving a challenge. [The Guardian]