Oil prices

Transfix’s Scott Sokoloff discusses how data is keeping supply chains resilient in the wake of recent shake-ups.

EIA forecasts global crude oil demand will exceed global supply through the end of the year.

OPEC+ meeting over oil output cuts; air cargo volumes declined by 7.8% this year for top air freight players; Volkswagen invests $2.6 billion in self-driving startup Argo AI.

Manufacturing supply chains in for prolonged distress; U.S. oil rates in limbo; global air cargo facing severe capacity crunch.

Darren Prokop explores the reasons for the huge drop in oil prices and what the ramifications are because of the drop.

Aperia has launched a virtual training and support program for its tire inflation system to help fleets continue proper tire maintenance. Plus, diesel prices drop, Werner president talks trucking, and Earth Day brings somber reminders.

U.S. retail spending fell by 8.7% last month; oil demand to fall by 29M barrels a day in April; companies look to diversify procurement geography.

WTO expects global trade to sink by at least 13% this year; oil demand are down 50% year-on-year; economists expect 25% decline in U.S. GDP in Q2.

logistics workers demand hazard pay; customer traffic fell across storefronts last week; supply chains will diversify post-epidemic.

Oil exporting countries might lose upto 85% of income this year; big 3 automakers partially close plants; Amazon suspends shipment of non-essential items.

Aramco increases maximum sustainable production capacity; air freight rates soar as manufacturing resumes in China; Americans order food via contactless delivery methods.

LNG growth expected to double by 2040; shipment volumes in U.S. plunge y-o-y; grocers take control of shelf space.

Apart from being emissions free, electric vehicles will have a much less total cost of ownership than conventional diesel vehicles.

Isuzu buys Volvo’s UD Trucks; U.S. industrial production climbs in November; DHL increases parcel delivery price in Germany.

Daimler is cutting jobs citing global economic slowdown and emissions fine; German economic growth exceeds expectations; U.S.-China limited trade deal is still unsigned.

Oil and gas price forecasts were cut by major banks for 2020; global economic slowdown has hit steel production; Volkswagen looks to commercialize autonomous vehicles by 2025.

EU economy is in the precipice of recession; U.S. crude futures fall; breakthrough gives lithium-ion batteries longer life.

The rise and fall of interest in natural gas trucks typically depends on the price of oil. Now, the availability of clean energy credits in California and tougher NOx rules expected from the California Air Resources Board are additional reasons for purchase.

There are enough molecules and enough preparation to get the maritime industry through the IMO2020 switchover. But how will trucking be impacted?

Today on FreightWaves NOW, we discuss the promise of the Mexico tariffs from a volume, rate, and oil perspective.

Tesla to raise $2 billion for increasing cash flow; Amazon has launched in Arabic in the Middle East; oil prices to remain high through the year.

The consensus at a panel in Houston is that marine gasoil will be the first fuel to get a big boost in demand as IMO2020 approaches. That’s not good news if you’re a diesel buyer.

Markets are tightening. Full implementation of sanctions on Iranian oil could make them tighter.

China ramps up its pork import from the U.S.; Lyft is all set for its IPO; Saudi Arabia looks to push oil prices to over $70 per barrel.

When a spread like that between gasoline and diesel come in this far and this fast, it can’t go on forever.

Two major agencies see a supply/demand balance that is tightening on the back of steep cuts coming out of OPEC.

Gig economy companies contend with Supreme Court ruling that mandates full time workers to be considered as employees and not contractors; oil supply reduces after Saudi Arabia’s drastic production cut; government shutdown strains supply chains across the country.

EU guns towards a new regulation that forces fleets to provide minimum wages to drivers; OPEC meets today over oil price turmoil and production ceiling; China agrees to resume U.S. soybean and LNG imports.

The November Market Update, presented in partnership with Convoy, featured FreightWaves CEO Craig Fuller and Chief Economist Ibrahiim Bayaan, who discussed macroeconomic data and trends in freight markets.

Industrial output rose for the fifth consecutive month in October, with strength in the manufacturing sector outweighing softening activity in mining production. Hurricane season again disrupted activity, with Hurricane Michael restraining total production slightly during the month.

Saudi Arabia and Russia are looking to contain crude oil prices by increasing production by nearly half a million barrels per day; China’s U.S. oil exports have dried up completely; Amazon warehouse workers lose their bonus over the company’s minimum pay rise pledge.

Australia’s east coast grains industry suffers an ongoing drought causing severe shortfalls, and grains are being moved from West Australia to East Australia in record volumes to the point where the industry will have to consider importing grain from overseas.

Iran’s truckers are on strike in 100 cities for the second time this year, causing fuel shortages. Meanwhile, the Iranian rial is rapidly losing its value, and the country’s biggest crude oil customers are cutting it off.

Brent and WTI prices have reached 4 year highs, and the Brent-WTI spread continues to favor American oil exports on the international market. We explain how longer lateral lengths in Permian Basin horizontal wells are driving truckload demand.

The scenario laid out by a leading energy economist is that the market needs a way to soften the blow of higher oil prices that would be spurred by the new environment rule.

We see falling demand for oil, lumber, and wheat out of Canada in the future due to a combination of market forces. Canadian Pacific Railroad appears to be especially exposed to this freight recession.

The U.S. has now risen to the top of the oil production list by extracting 10.9 million barrels per day (bpd) in August, but it needs to urgently address the pipeline bottlenecks across the Permian Basin to hold on to its numero uno status.

Ports of LA and Long Beach have reduced emissions by replacing diesel-run equipments with zero-emission engines; oil prices rise over signs of U.S. sanctions on Iran; warehousing workers salaries have seen good increases over the last three years.

Chinese oil and PNG demand is hitting the roof; EU is interested in buying U.S. PNG supply; trade tariffs on China might end up increasing cost of fish in the U.S.

In today’s pickup, CEOs on analysts calls don’t see a peak and see better driver retention for their companies. Also: OPEC output and a change in Chinese scrap policy.

Cyberattacks increase with technology inclusion in supply chains; Tesla doubles loss this Q2; China is pumping billions into OBOR strategy; Aramco drops IPO as fuel prices rise.

Flatbed demand, railroads’ chemical carload volumes, and the price of WTI crude are all bullish signals for an historically hot freight environment to continue through the rest of the year.

Cutbacks dating back to 2015, strong economic growth and problems in a lot of producing countries have brought the oil market to this point.

The U.S. trade tariffs on Chinese exports is due to come into force on July 6, with U.S. businesses looking for different manufacturing options in South Asia to adapt their supply chains around the new reality.

Oil, which helped drive a rally for stocks Wednesday, began pulling back ahead of U.S. supply data.

Oil prices have stabilized after a month of volatility, but Iran pulling out of the nuclear deal is still a possibility, as European oil companies and banks are unwilling to buy oil from the country in the wake of perceived sanctions.

According to SONAR data, the real-time national average for diesel truck stop actual price per gallon has risen to $3.15.

New IMO regulations asking for the shipping industry to cap the sulfur content in its fuel to 0.5% would have far reaching consequences on crude oil refining and potentially send oil prices to $90 per barrel.

The intensifying shortage of drivers is the result of several key issues relating to supply, demand, and new regulations—and is expected to have a significant impact on oil supply.

The number of oil rigs and the demand for flatbed trucking are rising in tandem, as WTI prices go up and the Brent-WTI spread widens.

China approves drone package delivery; driver pay is up 15% in 3 years; Hapag-Lloyd has a plan to switch to low sulphur fuel; Trump gears up for fight with Amazon; Barclay’s thinks WTI crude will drop to $51 this year.

The U.S. Energy Information Agency has released its Annual Energy Outlook for 2018, with projections to 2050. The EIA calls for massive growth in oil and LNG production and exports over the next few decades, which will be a boon for the trucking industry.

The American oil boom has already electrified the wider economy and increased demand for truckload miles; could it also stabilize fuel prices long term?

Oil prices finished 2017 above $60 a barrel for crude, surpassing their highest level in more than two years. Delivery of light, sweet crude for February was up 1% to $60.42 a barrel on the New York Mercantile Exchange. Brent crude was up 71 cents to $66.78 a barrel.

Sometimes profound threats to the economy and to people can be brought about by something as small as a single miniscule crack.

Carriers continue to feel good about 2018, according to the latest Morgan Stanley survey, however, overall sentiment declined in the past two weeks and underperformed seasonality.