Logistics News

The Institute for Supply Management’s services index rose to a three-month high of 54.5. Readings above 50 indicate expansion.

Brent crude traded 2.8% lower June 4 at $95.10 per barrel on hopes the U.S. and Iran will ultimately agree to reopen the Strait of Hormuz to oil tankers.

A judge took the unusual step of personally responding to the Trump administration’s appeal of his order to refund $166 billion in tariffs.

CEO John Furner said that low-income consumers are experiencing greater pressure on high gas prices. “That’s really the stress point, is the price of fuel,” he said.

With oil refiners skewing their output toward diesel and jet fuel, they inevitably produce less of other petroleum products, including gasoline.

Rather than announcing an open challenge against Iran, the U.S. is quietly coordinating with shippers willing to take a different approach.

The changes come three weeks after Jill Hazelbaker was promoted to the expanded role of president and chief corporate affairs officer.

The letters come ahead of the scheduled July review of USMCA, which can either be subject to annual reviews going forward, or renewed for 16 years.

Iran’s oil exports were sharply curtailed in May as a U.S. Navy blockade prevented any crude shipments, leaving about 80 million barrels stranded offshore, a nonprofit reported.

The report by the U.S. Trade Representative said Canada, Mexico, Taiwan, the U.K. and some other countries would face 10% additional tariffs for allegedly failing to enforce a forced labor import ban.