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Oil steady ahead of OPEC meeting
Oil prices steadied on Wednesday, supported by a drop in U.S. commercial crude inventories and the loss of storage capacity in Libya, but under pressure ahead of a meeting of OPEC exporters which may increase global production. U.S. crude inventories fell by 3 million barrels to 430.6 million barrels in the week to June 15, according to an American Petroleum Institute report on Tuesday. Click Read More below for additional information.
Trucking sees Largest Year-Over-Year Gain since October 2022
Trucking activity in the United States rose 0.3% in March after surging 2.9% in February, according to the American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index.
“While March wasn’t particularly strong sequentially, it was the largest year-over-year increase since October 2022,” said ATA Chief Economist Bob Costello. “The first quarter of 2026 was also the best performance since the third quarter of 2017 when considering both sequential and year-over-year results.”