“It does appear the only way is up for oil,” said Michael McCarthy, a chief strategist at CMC Markets in Sydney. “A lot of traders are speculating about the potential outcome of the OPEC meeting. Expectations are high and that could lead to disappointment if OPEC and its partners don’t deliver, but it doesn’t seem many are prepared to take the risk of that happening.” U.S. crude stockpiles at Cushing, Oklahoma, the delivery point for WTI and the biggest oil-storage hub, dropped by 1.8 million barrels last week, the API said, according to people familiar with the data. Gasoline inventories expanded by 869,000 barrels, API data show. Click Read More below for additional information.

The Port of Los Angeles posted near-record container volumes in 2025 despite a challenging trade environment, and marked the occasion to highlight a slate of projects aimed at solidifying its position as the top U.S. import gateway.  Los Angeles, which along with the Port of Long Beach comprises southern California’s San Pedro Bay maritime complex, handled 10.2 million container units in 2025, third-most in its 118-year history and the third time it topped 10 million twenty foot equivalent units (TEUs).  The port handled 10.3 million TEUs in 2024.

American Dollar to Canadian Dollar = 0.790173; American Dollar to Chinese Yuan = 0.154682; American Dollar to Euro = 1.211401; American Dollar to Japanese Yen = 0.009405; American Dollar to Mexican Peso = 0.047862.