National Average Price for Regular – Current: $2.852; Month Ago: $2.831; Year Ago: $2.598. National Average Price for Diesel – Current: $3.184; Month Ago: $3.143; Year Ago: $2.719.
Ahead of a new round of contract talks, Canadian National (NYSE: CNI) warned of a “significant disruption” to service from the ongoing strike by about 3,200 employees. “We are disappointed that the TCRC (Teamsters Canada Rail Conference) has initiated strike action,” Janet Drysdale, CN’s vice president of financial planning, said during the Scotiabank Transportation and Industrials Conference on Nov 19. The federal government, which has been mediating talks between CN and the Teamsters, urged the two sides to reach an agreement.
West Texas Intermediate for March delivery, which expires Monday, fell as much as 70 cents to $30.07 a barrel on the New York Mercantile Exchange and was at $30.13 at 11:51 a.m. London time. Prices are up 2.5 percent this week. Total volume traded was about 2 percent below the 100-day average. The more-active April future was 57 cents lower at $32.36 a barrel. Brent for April settlement declined as much as 70 cents, or 2 percent, to $33.58 a barrel on the London-based ICE Futures Europe exchange. Prices are 0.9 percent higher this week. The European benchmark crude traded at a premium of $1.36 to WTI for April. Supplies at Cushing, Oklahoma, the biggest U.S. oil-storage hub, rose to a record 64.7 million barrels, the EIA said in a report Thursday. The site, which is the delivery point for WTI, has a working capacity of 73 million barrels.