During the most recent OPEC+ meeting in August, the organization announced a plan to cut production by 100,000 barrels per day. At the time, Brent crude oil prices were around $95 per barrel and steadily declining. In the days following the announcement, prices went back up to around $100 per barrel. Since then, prices have […]
Read More
The U.S. Transportation Department announced last week that it has approved $1.5 billion in grants to improve 26 projects on highways, multimodal freight, and rail operations across the United States. After last week’s labor dispute, which almost brought the nation to the brink of a potentially catastrophic railroad strike, the negotiators had to resolve countless […]
Read More
Earlier this week two of the major railroad unions had plans of going on strike if demands were not met. The railroad companies and unions represent tens of thousands of workers in the United States with more than one-third of long-distance freight traveling by rail. A shutdown would have been catastrophic for the economy. After […]
Read More
The diesel future markets show signs of strength; however, prices have been on the decline over the last eight weeks with $5 per gallon diesel. According to FleetOwner, the average national diesel price on September 12th was $5.01 which is down two cents from the day prior and five cents from the average a week […]
Read More
Treasury Secretary Janet Yellen stated in a recent interview believes that the European Union could soon be affected by the embargo on Russian oil imports, which could cause gasoline prices to rise once again during this winter. With Russia still at war with Ukraine, one of their main funding sources for what they call their […]
Read More
The Federal Motor Carrier Safety Administration (FMCSA) announced plans to extend the hours-of-service emergency declaration, first enacted in March of 2020 until October 15th of 2022. Previously, the FMCSA set a three month extension with the tentative end date of August 31st. The most recent extension, being roughly six weeks in length, could signify the […]
Read More
Electric vehicles are a growing commodity in the U.S. People have many misconceptions about electric cars and how they impact climate change. Conventional gas- and diesel-powered cars have been a target in 2022 in states like California so let’s investigate some of the myths and misconceptions of traditional and Electric Vehicles (EV). California was in […]
Read More
National Truck Driver Appreciation Week is an important time for Americans to honor all professional truck drivers for their hard work and effort to keep our economy moving. In the U.S. there are 3.6 million men and women that help make sure products get to the right destination in a timely and safe manner. To […]
Read More
Over the past week, WTI crude oil has traded in a range of $11/barrel, Heating Oil $0.59/gallon, and European natural gas €118/MWh. This is extreme energy volatility, even from what we’ve seen earlier this year, as traders begin to position themselves ahead of the OPEC+ decision, the perceived weakness in Chinese oil demand, and less […]
Read More
The largest refinery in the Midwest should resume normal operations within the next few days after being disrupted by a fire last week, which threatened its 430,0000 barrel-per-day operations. British Petroleum’s (BP) facility in Whiting, Indiana had an electrical fire in the powerhouse portion of their complex and caused a loss of cooling water. With […]
Read More
