Futures in New York tumbled 1.7 percent Thursday. While Goldman Sachs Group Inc. forecasted strong global consumption growth, crude production and stockpiles in the U.S. climbed higher in the latest inventory report. A strengthening dollar also pushed crude lower. The Organization of Petroleum Exporting Countries and its partners including Russia continue to trim output as promised. OPEC shipments will fall by 230,000 barrels a day in the four weeks to March 24, according to tanker-tracker Oil Movements. Saudi Minister of Energy and Industry Khalid Al-Falih said in a Bloomberg Television interview that the deal will evolve in 2019 and the group will do what it needs to in order to preserve oil market stability. Click Read More below for additional information.

The American Trucking Associations praised the leaders and members of the House Transportation and Infrastructure Committee for their work in advancing the INVEST in America Act to the House floor. “Chairman DeFazio and the entire committee have produced a solid piece of legislation that authorizes a real and significant increase in funding for our roads and bridges, as well as a broad range of policies to improve highway safety,” said ATA President and CEO Chris Spear. “ATA supports this bill and appreciates the hard work of the committee members and staff, and we look forward to working with Congress to further improve this important bill as it continues through the process, and securing bipartisan support for an infrastructure investment package that provides real money for our roads and bridges.”

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