Driver pay pressure rises as capacity declines: TT Daily

GOVERNMENT

60-day peace deal deadline expires with U.S., Iran far apart

Talks have focused on reopening the Strait of Hormuz and lifting a U.S. blockade on Iran, both of which were supposed to have happened under the interim deal. There has been no sign of any compromise on the strait. Read more…

SAFETY

Train thieves steal $200 million in cargo a year

The major freight carriers are joining with local police, the FBI and corporate security teams, investing millions of dollars in monitoring technology, drones, barbed-wire fencing and other improvements. Read more…

FUEL

Oil prices increase as Iran war drags on

The price for a barrel of Brent crude rose 0.7% to $89.15 on Aug. 17 in what counts as a relatively modest move compared with its jagged recent swings. Read more…

LOGISTICS

Tankers go dark for longer to get oil out of Middle East

Vessels carrying non-Iranian crude started turning off their transponders to avoid detection in the weeks following the start of the conflict in late February. Read more…

FUEL

U.S. oil companies cut capital spending in shale basins

Chevron and ConocoPhillips cut capital expenditure in the Lower 48 by 10% in the first six months of the year while Occidental Petroleum cut spending in the Permian Basin by 20% in that period. Read more…