Futures lost 0.3 percent in New York after rebounding Tuesday from the biggest drop in a week. Motor fuel stockpiles gained by 1.4 million barrels last week, while crude inventories fell by 3.6 million barrels, the American Petroleum Institute was said to report. Energy Information Administration data Wednesday is forecast to show both gasoline and crude stockpiles decreased. U.S. crude stockpiles at Cushing, Oklahoma, the delivery point for WTI and the biggest U.S. oil-storage hub, dropped by 462,000 barrels last week, said the API, according to people familiar with the data. Nationwide crude inventories probably decreased by 3.48 million barrels last week, while gasoline supplies slid 1.25 million, according to analysts surveyed by Bloomberg. Click Read More below for additional detail.

The HOW Promotion & Marketing Design Awards, which is HOW’s longest-running competition, has seen thousands and thousands of outstanding promo-driven design projects over the years. One such winning project—one that informed, persuaded and filled a need with flying colors—is Baton Rouge-based design firm Xdesign Inc.‘s work for Capitol City Produce. The project—a campaign for a cocktail creation contest created as a way for the client to showcase their products—was spearheaded by Xdesign Inc. art director Tiffanie Pitre and her team, which includes graphic designer Simone Begneaud, illustrator Vitalija Svencionyte, and copywriter Paige Fenerty.

The effects of the Iran war are being felt across the global supply chain, as container rates rise sharply on vital headhaul trade routes including to the United States, an analyst said.  “Five weeks into the Strait of Hormuz closure and spot rates on every major east-west trade lane have risen sharply, showing this is a conflict with global repercussions for ocean supply chains,” said Peter Sand, Xeneta chief analyst. “No shipper is insulated from financial or operational risk. Far East to U.S. West Coast – a trade which transits the Pacific thousands of miles from the epicenter of conflict – has seen spot rates climb 29% since the end of February.”