Wood-based biochemicals are renewable, recyclable, can shorten supply chains and boost local production. And they can be used to make almost anything. The future of wood is here. Soon all kinds of products – from bottles to de-icer to tyres – will be made from wood-based biochemicals, ushering in a new era of sustainability. It’s not a new idea. For years, if not decades, there has been discussion about how wood-based products could replace things made from fossil materials. Until now, this idea was mostly hypothetical. Now it is really happening.

Futures climbed 0.6 percent in New York for a fourth day of gains. Kuwait joined the U.A.E. in promising to pump less oil after Saudi Arabia called on OPEC producers to cut more supply. U.S. crude inventories declined by 7.21 million barrels last week to the lowest level since early January, according to the Energy Information Administration. The market is digesting “very strong draws in inventories across the board,” Adam Wise, who runs a $8 billion oil and natural gas bond and private equity portfolio at John Hancock Financial Services Inc. in Boston, said by telephone. “We’ve also seen comments out of Saudi Arabia supporting prices in the form of export reduction. Sentiment is finally being forced to pay attention to the fundamentals.” Click Read More below for additional details.

American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index declined 1.2% in April after decreasing 2.2% in March. In April, the index equaled 111.7 (2015=100) compared with 113.1 in March. “The truck freight market remained soft in April as seasonally adjusted volumes fell for the second straight month,” said American Trucking Associations Chief Economist Bob Costello. “With a rebound in freight remaining elusive, it is likely that additional capacity will leave the industry in the face of continued softness in the market.” March’s decrease was revised down slightly from our April 23 press release. Compared with April 2023, the index fell 1.5%, which was the fourteenth straight year-over-year decline. In March, the index was down 1.3% from a year earlier.