Archive for May 11th, 2020

Oil Slips With Glut Concerns, Reversing Saudi Price Hike Boost

Oil fell in a day of wild price swings as investors weighed supply-and-demand fundamentals against Saudi Arabia’s global price hike. Futures in New York dropped 1.8% May 7. State-run Saudi Aramco raised prices on almost all grades for June, sending futures surging. But the market remains glutted after the kingdom exported record amounts of crude […]

Reefer capacity begins to tighten; could van follow?

The freight market is still reeling from the economic mess created by the COVID-19 pandemic, but reefer tender rejection rates have been on the rise since bottoming in late April around 3.8%—now sitting around 5.56%. Dry van rejection rates have yet to make a meaningful movement since bottoming around 2.6% in mid to late April. […]