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Crude Oil Closes at $53.78, Highest Since Oct. 26 • Exel’s Profit Falls on U.S. Write-Down • Intermodal Volume Rises 22.8% for Week • New York’s Mayor Opposes Rail Cargo Tunnel • And more...

Light sweet crude oil futures closed at $53.57 a barrel on the New York Mercantile Exchange Thursday.

A House panel approved a six-year, $284 billion highway bill late Wednesday, clearing the way for the measure to move to the House floor next week.

U.S. workers’ productivity grew at a 2.1% annual rate in the fourth quarter, faster than previously estimated, the Labor Department reported Thursday.

The Institute for Supply Management said Thursday its services index rose to 59.8 in February, from 59.2 in January.

U.S. wholesale prices for heavy motor trucks jumped 1.6% in January, marking their largest monthly increase in more than five years, as equipment makers continued to pass along higher costs for raw materials, including steel, aluminum, wood and rubber.

The DHL Americas unit of Deutsche Post World Net won’t make a profit until the fourth quarter of 2006, partly because the company is unable to charge as much as its main competitors because of service issues, the parent company’s chief financial officer said.

USF Sells Reverse Logistics Unit • EGL's Profits Rise, Company Gains $6 Mln. in EEOC Settlement • Vitran Approved to Trade on Nasdaq • Jobless Claims Drop for Fourth Time in Five Weeks • And more...

Light sweet crude oil closed at $53.05 on the New York Mercantile Exchange Wednesday, the highest closing price since Oct. 26 when it was near a record, Bloomberg reported.

The Transportation Security Administration has denied a petition by American Trucking Associations that sought to delay the agency’s plan to fingerprint drivers of hazardous materials, and that all states be required to use a single TSA-chosen contractor.