Brent crude oil hit a more than three-year high on Thursday, breaking through the psychologically important $70 a barrel level for the first time since December 2014. Oil futures failed to hold the gains, selling off as the close of trading approached, with analysts warning that the market might have little room left to run. Oil prices have been supported by stronger-than-expected demand fueled by worldwide economic growth, ongoing output limits by OPEC and Russia and a series of global events that have stoked geopolitical tension. Click Read More below for additional information.

UPS has entered into a definitive agreement to sell UPS Freight (UPSF) to TFI International Inc. for $800 million, subject to working capital and other adjustments. “We’re excited about the future and the opportunities this creates for both UPS and UPS Freight as part of TFI International Inc.,” said UPS Chief Executive Officer Carol Tomé. “The agreement allows UPS to be even more laser-focused on the core parts of our business that drive the greatest value for our customers.” The decision to sell UPS Freight was reached following a thorough evaluation of the UPS portfolio, and aligns with the company’s “better not bigger” strategic positioning. UPS and TFI International will also enter into an agreement for UPS Freight to continue to utilize UPS’ domestic package network to fulfill shipments, for a period of five years.

Midland is deeply saddened to announce the passing of Ralph DeLetto, Executive Vice President, Chief Financial Officer, and co-owner of the company. Ralph passed away Monday night following a long and courageous battle with cancer, surrounded by his loving family. “Ralph was an extraordinary leader and a trusted partner whose vision and integrity helped shape Midland into the organization it is today,” said Mike Graves, President and Chief Executive Officer. “His contributions to our business and our people were immeasurable, and his legacy will continue to inspire us for many years to come.” Ralph is survived by his wife, Nancy, and his sons, Michael and Christopher, who are also valued colleagues at Midland.