Logistics News

Chevron is negotiating to add two new oil fields to its operations in Venezuela, according to people familiar with the matter, Bloomberg reports.

U.S. allies, however, have privately warned that the strait, a key thoroughfare for Middle East oil, natural gas and fertilizer, was still likely mined.

The price for a barrel of Brent crude, the international standard, rose 0.2% on Aug. 28 to $88.68. Oil prices have been a wild card for inflation.

Aramco is now selling its heavier grades by moving them through Hormuz. Other Persian Gulf nations including Iraq and Qatar have also increased crude exports.

Taking a stake in Venezuela’s oil reserves would mark an almost unprecedented intervention by the U.S. in another country’s economy.

Nike said it hired Jane Ewing from Walmart to become the sportswear company’s chief commercial officer.

American Trucking Associations is warning the Trump administration about possible weaknesses in the oversight of military freight transportation.

Canada canceled planned tariffs on about C$1.1 billion of American fish and seafood products, a break for Maine and Alaska, both major fish exporters.

Other new items facing a 50% levy include certain glass containers, printed pictures and plaster tiles from the U.S.

Merchandise imports climbed 3.7%. The advance was fueled by the largest increase in capital goods — a category that includes computers and accessories, semiconductors and telecommunications equipment — since 1993.