Crude prices strengthened on Monday, reversing course as geopolitical tensions continued to support the market and a trade war between the U.S. and China was declared "on hold." Geopolitical concerns that U.S. sanctions on Iran could curb the country's crude exports have led crude prices to trade higher in recent weeks, and the market is now weighing the possibility of additional sanctions on Venezuela following the country's presidential election. Click Read More below for additional information.

Many printing industry leaders — both past and present — attended the Rochester Institute of Technology (RIT) to earn a bachelor’s degree in printing. Dating back to 1922 and long considered the premier program for the graphic arts industry, it drew trade and high school graduates who often hailed from family-owned printing businesses. In 1981, RIT’s printing program peaked with 775 students, learning business management and hands-on (primarily sheetfed and web offset) production operations skills. So, it’s no surprise that some of the roughly 4,000 active alumni are disheartened to learn that RIT’s print and graphic media technology curriculum, which has experienced several years of declining enrollment, is being integrated into the university’s packaging science program.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index contracted 1% in May after falling 10.3% in April. In May, the index equaled 106.1 (2015=100) compared with 107.2 in April. “While tonnage fell in May, even though other economic indicators like retail sales and housing starts rose, I’m not overly concerned,” said ATA Chief Economist Bob Costello. “First, while down over 10 percent sequentially in April, truck tonnage did not fall as much as other economic indicators that month. This means that any rebound is tougher since tonnage didn’t fall substantially to begin with. Second, there are indications that freight continues to improve as more and more states and localities lift lockdown restrictions.” April’s drop was revised up to -10.3% from the 12.2% decline reported in our May 19 press release.