“Market fundamentals are improving as capacity continues to tighten, driven by regulatory enforcement and carrier exits,” CEO Shawn Stewart said.

Freight brokers have been weathering a dramatic shift in the legal and regulatory landscape. RXO is among the brokers that have navigated the upheaval by presenting their quality of service as a key differentiator.

The U.N.'s index of food-commodity prices rose 0.6% in July from the previous month, led by grain, sugar and vegetable oils, according to a report from the Food and Agriculture Organization.

A barrel of Brent crude oil, the international standard, slipped 0.6%, to $82.07. Brent rose nearly 4% on Aug. 6 as progress toward reopening the Strait of Hormuz remained unclear.

Carney said Canada remained engaged in the negotiations despite Trump’s comments, describing the talks as a fight to protect Canadian workers and businesses.

The Trump administration has ruled out any arrangement that would cement Iran’s grip over the Persian Gulf waterway, including Tehran charging fees.

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.