Crude oil rose to near $70 a barrel Thursday before receding to close the trading day at just under $69 on the New York Mercantile Exchange, Bloomberg reported.
June 4, 2009BusinessFuelGovernment
Oil Drops $2 After DOE Cites Higher Inventories
Oil prices took their biggest one-day drop in six weeks Wednesday to near $66 a barrel following an Energy Department report that showed crude inventories improved last week, Bloomberg reported.
June 3, 2009Business
Administration Warns Highway Fund Could Be Out of Money by August
The Obama administration is warning that the Federal Highway Trust fund will run out of money in August if lawmakers don't give it an infusion of $5 billion to $7 billion, the Associated Press reported.
June 3, 2009Business
FHWA Nominee Seeks 鈥楤alance鈥 on Truck-Weight Issue
WASHINGTON 鈥 President Obama鈥檚 nominee to head the Federal Highway Administration told a Senate panel he considers it important to look for 鈥渂alance鈥 in debating truck size limits.
June 3, 2009Business
Navteq to Supply Digital Maps for Freightliner
Mapping technology firm Navteq said Wednesday it will supply the digital maps used for GPS-assisted cruise control in Freightliner's Cascadia brand trucks.
June 3, 2009BusinessSafetyGovernment
ISM Services Index Improves in May
The U.S. economy鈥檚 service sector improved last month with its highest reading in seven months but still showed contraction, the Institute for Supply Management said Wednesday.
June 3, 2009BusinessLogistics
CEVA Retains Ford Contract
CEVA Logistics said it won renewal of a contract to provide inbound logistics services for a Ford Motor Co. plant in Claycomo, Mo.
June 3, 2009Business
Shorter Supply Chains Mean More Growth for Truckload Carriers, Officials Say
NEW YORK 鈥 Truckload carriers are well-positioned to grow faster as supply chains continue to shorten in the next several years because of their speed and flexibility advantages over intermodal movement, major shippers and carriers agreed.
June 3, 2009Business
New-Vehicle Sales Reach 2009 High in May
U.S. new-vehicle sales rose to their highest level of the year in May, but demand is still below the levels that most automakers need to be profitable, the New York Times reported Wednesday.
June 3, 2009Business
YRC Restructures Senior Leadership Team
YRC Worldwide Inc. announced appointments to its senior leadership team that it said would 鈥渇urther strengthen [its] focus on critical areas,鈥 while cutting costs.
June 2, 2009