Futures in New York increased 0.6 percent after a 1.9 percent drop on Tuesday. U.S. crude inventories rose 3.43 million barrels last week, the American Petroleum Institute was said to report. That compares with a 1.23 million-barrel gain in a Bloomberg poll of analysts ahead of Wednesday’s government data. The oil market has priced in a more than 50 percent probability that the U.S. will sanction Iran, according to Standard Chartered Plc. If the API’s stockpiles data is reflected in the government announcement, it would be the biggest build since early March. The industry body was also said to show crude inventories in the American oil-storage hub of Cushing, Oklahoma, rose by 725,000 barrels last week. Gasoline stocks increased by 1.6 million barrels while distillates declined 4.08 million. Click Read More below for additional information.

Taki Darakos, PITT OHIO’s fleet manager who oversees the acquisition and maintenance of 1,550 company-owned tractors and box trucks, testified before Congress on the technological, operational, and financial challenges fleets face as federal and state regulations mandate the adoption of battery-electric trucks. “After meticulous evaluation and planning with our truck manufacturer, we put into service our first battery-electric trucks,” Darakos said. “Although battery-electric trucks show promise in certain applications, they are not ready for broad deployment due to technology limitations.” PITT OHIO is a freight transportation provider that operates in 14 states out of 25 terminals and employs more than 3,500 people. As the Vice President of Vehicle Maintenance and Fleet Service at PITT OHIO, Darakos shared his extensive, real-world experience with the House Subcommittee on Highways and Transit.

American Dollar to Canadian Dollar = 0.798408; American Dollar to Chinese Yuan = 0.154750; American Dollar to Euro = 1.213423; American Dollar to Japanese Yen = 0.008996; American Dollar to Mexican Peso = 0.052110.