Canadian National this week was the only Class I railroad to publicly comment on the $85-billion acquisition agreement between Union Pacific and Norfolk Southern, a corporate marriage that if approved would create the first U.S. transcontinental freight railroad. “CN is closely monitoring the ongoing discussions about possible transcontinental rail mergers,” the Montreal-based company (NYSE: CNI) said in a statement to FreightWaves. “Our focus remains on delivering consistent performance for our customers, pursuing strategic growth opportunities, and creating long-term value for our shareholders. “CN believes this can be achieved through greater collaboration between railways, connecting key markets with critical resources,” as opposed to mergers.

Oil dipped slightly last week on a weaker demand outlook while Russia cast doubts on the timing of a decision to extend supply cuts led by the Organization of Petroleum Exporting Countries. Wagers on lower Brent prices rose by the most since June through the week to Nov. 14 amid uncertainty over Saudi Arabia’s push to prolong output curbs. Yet an extension remains likely, according to PVM Oil Associates Ltd. “It is widely believed that OPEC, together with 10 non-OPEC countries, will roll over their production for the whole of 2018,” said Tamas Varga, an analyst at PVM in London. Click Read More below for additional information.