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Consultant Says Freight Security Low • Commission Urges Deadlines for Closing Security Loopholes • Chase Involving Stolen Truck Ends at NSA Headquarters • Oklahoma Creating Radio Alert System

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The price of crude oil rose to a record $47.35 a barrel on Wednesday morning in New York after the Department of Energy said U.S. supplies declined for a third straight week, Bloomberg reported.

The price of crude oil futures in New York rose to a record $46.95 a barrel on Tuesday afternoon as strong economic reports boosted concern that production capacity may not be adequate to meet global demand, Bloomberg reported.

Industrial production rose 0.4% in July, the third increase in the past four months, the Federal Reserve reported Tuesday..

The average price of retail diesel fuel rose 1.1 cents to $1.825 per gallon, the third straight week it has set a new record high, the Department of Energy said Monday.

The Labor Department said Tuesday that consumer prices fell 0.1% in July, the first decline in eight months..

The federal government probably would wait until just before a 45-day court deadline expires before announcing its response to the court’s decision overturning its revised driver hours-of-service regulations, said Department of Justice officials.

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Gasoline prices dropped about 5 cents in the past three weeks, according to the Lundberg survey of 8,000 stations nationwide, but rising crude oil prices would likely cause prices to rise in the weeks ahead, analyst Trilby Lundberg said.