AAA Daily Fuel Gauge Report for Friday, 2/4/22

American Dollar to Canadian Dollar = 0.734187; American Dollar to Chinese Yuan = 0.141692; American Dollar to Euro = 1.074064; American Dollar to Japanese Yen = 0.007142; American Dollar to Mexican Peso = 0.056370.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 0.5% in September after rising 2.1% in August. In September, the index equaled 118.8 (2015=100) versus 118.2 in August. “The latest gain put tonnage at the highest level since August 2019 and the third highest level on record,” said ATA Chief Economist Bob Costello. “This is another example of how the contract freight market remains strong despite weakness in the spot market this year. During the third quarter, tonnage increased 0.5% over the second quarter while increasing 5.6% over the same period in 2021. That was the largest quarterly year-over-year increase since the second quarter of 2018.” Compared with September 2021, the SA index increased 5.5%, which was the thirteenth straight year-over-year gain. In August, the index was up 6.7% from a year earlier. Year-to-date through September, compared with the same period in 2021, tonnage was up 4%.

Oil prices were steady on Thursday, holding gains made the previous session after falling U.S. crude and oil product inventories lifted the market. Brent crude futures LCOc1, the international benchmark for oil prices, stood at $49.72 per barrel at 0939 GMT, 2 cents up from their last settlement. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $47.10 per barrel, 2 cents below their last close.