Logistics News

Trucking companies serving the major ports across the country continued to see capacity tightening while also moving beyond difficult prior-year comparisons.

The price of Brent crude, the international standard, rose 3.9% to $82.55 a barrel amid uncertainty about the direction of the U.S. war with Iran.

Saudi oil exports have been disrupted for months as the U.S.-Iran conflict all but shut down Persian Gulf crude flows.

State producer Saudi Aramco will reduce its Arab Light oil price for delivery to customers in Asia next month by 50 cents a barrel to $2 a barrel less than the regional benchmark.

GXO Logistics on Aug. 5 announced significant changes to its operating model aimed at sustaining growth through high-margin contracts and reducing costs.

Trimac Transportation acquired food-grade bulk carrier California Freight for an undisclosed sum, its second acquisition in the Golden State in two years.

Canada and the U.S. are negotiating to find a trade deal by Aug. 19. That’s the date on which Trump promised the U.S. will apply new 50% tariffs on a fresh basket of Canadian-made goods.

Brent crude fell 0.3% to $79.15 per barrel on Aug. 5. On Aug. 4, it sank 5.3% as hopes rose for progress toward a full reopening of the Strait of Hormuz. 

The global scramble for diesel is increasingly draining U.S. supplies. Exports of distillate fuel rose to 1.9 million barrels a day last week, according to data released by the EIA.

While fighting between the sides has paused for now, a number of other issues remain unresolved — not least Iran’s nuclear program.