UPS announced the launch of UPS Global Checkout, an exciting new service that makes it even easier for consumers around the world to buy online from shippers around the world. Until now, international purchases often arrived with an unpleasant surprise – an additional bill for unpaid import costs. UPS Global Checkout solves that problem by guaranteeing upfront the amount online shoppers pay in duties, fees and taxes, and eliminating the frustration of unexpected costs at delivery. UPS is the only global integrated carrier to offer a guaranteed landed cost solution for international shipping that is seamlessly incorporated into its shipping technology, transforming the shopping experience and offering complete transparency on costs. With updates in near real time, the service adjusts to policy changes, international tax laws, duties and tariffs, helping to avoid surprise costs and offering a positive delivery experience. Available in 43 origin countries and delivering to more than 200 destinations worldwide, the service helps businesses of all sizes grow globally by streamlining international shipping.

Oil in New York climbed 12 percent last year as the Organization of Petroleum Exporting Countries and its allies trimmed supply to reduce a global glut. U.S. crude output is also slipping from a record-high, with weekly production falling through Dec. 22 for the first time since mid-October. Any interruption to Iranian supply would be a significant shock to the market. “Geopolitical risks are clearly back on the crude oil agenda,” said Bjarne Schieldrop, chief commodities analyst at SEB AB in Oslo. “As of yet, there is no deep-seated concern for a disruption” in Iran, but if that were to happen “it would have a huge impact on global crude oil prices.” Click Read More below for additional information.

U.S. crude production climbed in March to 10.47 million barrels per day (bpd), a monthly record, data from the Energy Information Administration showed last week. U.S. drillers added two oil rigs in the week to June 1, bringing the total to 861, the most since March 2015, energy services company Baker Hughes said on Friday. That was the eighth time drillers have added rigs in the past nine weeks. Click Read More below for additional information.