Logistics News

The new tariffs will take effect in 30 days, according to a senior administration official who briefed reporters July 20 on the decision.

In just months, Syria has gone from shipping none of the fuel to making up more than a quarter of Middle Eastern volumes.

Brent crude, the international standard, rose 0.9% to $88.90 per barrel, much higher than prewar levels.

The offer highlights mounting risks in the Strait of Hormuz after 59 commercial ships were attacked and 17 seafarers died.

The attacks on vessels controlled by Dynacom will unnerve the industry and underline just how perilous the crossing has become since the recent escalation of violence on both sides.

Fuels have spiked faster than crude since the U.S.-Iran war caused the oil market’s biggest supply disruption. The “real bottleneck” is in refining, Morgan Stanley said in a note. 

The service centers are in smaller markets, and ArcBest plans to consolidate their operations into other facilities within the affected regions.

Mexican drivers and trucking operators have come under pressure from the Trump administration as federal agencies take a harsher stance on illegal activities.

The maintenance shutdown could potentially exacerbate fuel market tightness in northeastern U.S. states that rely on the plant for gasoline and diesel imports.

“Let’s see exactly how it will play out now, because it has been a very recent development,” Volvo Group CEO Martin Lundstedt said during the Q2 earnings call.