Oil fell in New York after U.S. President Donald Trump criticized OPEC and said crude prices are “artificially Very High.” The comments came as the Organization of Petroleum Exporting countries and allies including Russia showed willingness to further tighten oil markets and boost prices. Oil has rallied in recent weeks as output cuts from OPEC and its allies were compounded by heightened geopolitical risks, including the possibility of renewed U.S. sanctions on Iran. Meeting in Jeddah, a committee of OPEC and other oil producers found high levels of compliance with the production curbs. Still, there’s capacity for prices to rise beyond this week’s three-year high, according to Saudi Energy Minister Khalid Al-Falih, who said cooperation between producers would continue into 2019. 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 = 0.736415; American Dollar to Chinese Yuan = 0.138929; American Dollar to Euro = 1.081362; American Dollar to Japanese Yen = 0.006640; American Dollar to Mexican Peso = 0.058728.