FMCSA’s waiver approval for electronic warning beacons clears major hurdle, Morgan Stanley contends Wall Street investment firm Morgan Stanley sees the Federal Motor Carrier Safety Administration’s recent waiver to allow high-tech roadside safety beacons a turning point for autonomous trucking. “We believe this is a significant milestone in the path to widespread commercial adoption of autonomous trucking because while the overall regulatory environment for autonomous trucking is quite favorable, small practical rules friction like this has been viewed as significant hurdles by some parties pushing back on its adoption,” wrote Morgan Stanley freight transportation analyst Ravi Shanker in a research note on Monday. “This shows that regulators are open to easy and practical solutions to ease the rollout of this technology.” FMCSA recently granted a limited three-month renewable waiver to Aurora (NASDAQ: AUR), allowing the autonomous truck developer to use cab-mounted flashing warning beacons instead of reflective triangles – which much be deployed manually by the driver – to warn of a stopped truck on the roadside.

Futures added 0.4 percent after settling at a two-week low on Wednesday. Overseas shipments from the U.S. jumped to a record last week as production rose, government data showed. In Russia, President Vladimir Putin said he’s open to prolonging a deal with OPEC to curb supplies, though a decision won’t be made until the current agreement nears expiry in March. Saudi King Salman bin Abdulaziz began a four-day visit to the nation on Wednesday. “U.S. production is almost at a record-high level, and exports are record-high,” said Michael Poulsen, an analyst at Global Risk Management Ltd. “As this U.S. production is a fundamental part of the oil market, such news weighs heavily.” Lower demand from U.S. Gulf Coast refiners that are still recovering from Hurricane Harvey in August has caused crude sellers to seek markets abroad, triggering shipments of 1.98 million barrels a day, the highest level in weekly government data compiled since 1993. The figure was about a third higher than the previous record, set the prior week. Click Read More below for additional detail.

Futures in New York were little changed, after rising 3 percent the previous two sessions. Libya’s crude loadings from the Mellitah terminal will be “modified” after protests impeded output at the El-Feel field. Cuts by OPEC and its allies may be phased out in 2019 in a way that won’t disturb the market, Saudi oil minister Khalid Al-Falih said. Still, U.S. supply remains a threat, with the nation’s rig count rising for a fifth week to the highest since April 2015. Oil has risen more than 5 percent this year, following a second annual gain, as a drain in U.S. stockpiles and growing demand reassure investors that production cuts led by the Organization of Petroleum Exporting Countries are working. While America continues to pump record volumes, accompanied by an increase in exports, Al-Falih said the global oil market is re-balancing and bloated inventories are shrinking. Click Read More below for additional information.