Related Posts
Futures in New York rose 0.2 percent after a 3.6 percent decline last week. The Sharara field, Libya’s biggest, has started producing again after stopping on Sunday following a closure of the pipeline carrying oil to the Zawiya refinery, according to a person with knowledge of the matter. The halt came shortly after protests disrupted output at another Libyan deposit in February. Libyan production had been surging in recent months, becoming a thorn for the market on concern that further growth could test the country’s pledge to curb production as part of OPEC’s plan to limit a global oversupply. The increase, together with warnings of rising U.S. output from organizations including the the International Energy Agency, has prevented prices from regaining the highs of January even as most OPEC members continue to cut supply. Click Read More below for additional information.
A silver lining in the global economy's post-pandemic supply-chain challenges has been policymakers' heightened attention to long-term issues hampering our domestic freight transportation networks. While shuttered Asian factories, chip shortages and other emerging chokepoints are newer problems particular to COVID-19 shutdowns, they’ve shed light on broader, systemic issues that have long impacted American trucking companies and their ability to keep the supply chain turning. Many of those issues emanate from our maritime ports, where abusive business practices by a cartel of foreign-owned ocean shipping companies have fleeced American trucking companies and U.S. consumers to the tune of billions of dollars. Fortunately, both Congress and the Biden Administration are aligned on the goal of increasing marketplace fairness in our ports and eliminating anti-competitive behavior that's enabled ocean carriers to reap record profits at the expense of truckers and consumers.
American Dollar to Canadian Dollar = 0.776214;
American Dollar to Chinese Yuan = 0.150313;
American Dollar to Euro = 1.161353;
American Dollar to Japanese Yen = 0.008759;
American Dollar to Mexican Peso = 0.051954.
