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Oil closed the trading day Wednesday near $51 a barrel on the New York Mercantile Exchange following an Energy Department report that showed gasoline inventories declined last week, Bloomberg reported.

Canadian transportation firm Mullen Group Income Fund said its first-quarter profit dropped 37.8% to C$31 million or 38 cents per unit, from C$49.8 million, or 62 cents per unit, a year ago.

McLeod Software said Wednesday that it had purchased Intergrated Logistics Execution Network Systems, or iLENS, a logistics software company.

American Trucking Associations has reminded motor carriers of the actions they should take to prepare for a possible influenza pandemic in light of the swine flu outbreak.

Daimler AG said Tuesday it lost $1.68 billion in the first quarter, compared with a profit of $1.73 billion a year ago, the Associated Press reported.

Covenant Transportation Group said Tuesday it lost $5.5 million, or 39 cents per share, in the first quarter, compared with a loss of $7.8 million, or 56 cents, a year ago.

OXON HILL, Md. — The sale of used North American trucks to overseas markets may once again become a useful technique for maximizing revenue for sellers, industry executives said, but for now the recession has caused even that market to decline.

Cargo theft continues to be a problem for the freight transportation industry and could cause insurance premiums to increase, two experts said.

For years, carriers have sought ways to improve their drivers’ behavior when on the road and out of corporate sight, relying mainly on word of mouth and variations on those ubiquitous “Am I Driving Safely?” signs.