Key Currency Exchange Rates for Friday, 10/6/23

U.S. crude production climbed in March to 10.47 million barrels per day (bpd), a monthly record, data from the Energy Information Administration showed last week. U.S. drillers added two oil rigs in the week to June 1, bringing the total to 861, the most since March 2015, energy services company Baker Hughes said on Friday. That was the eighth time drillers have added rigs in the past nine weeks. Click Read More below for additional information.

“The slow, and choppy, climb off of the bottom continued in October,” said ATA Chief Economist Bob Costello. “Since hitting a low in January of this year, tonnage is up a total of 3%, plus the index is up sequentially in three of the last four months. No doubt the freight market has improved – albeit slowly – over the course of the year.” In October, the ATA advanced seasonally adjusted For-Hire Truck Tonnage Index equaled 114.6 compared with 113.3 in September. The index, which is based on 2015 as 100, equaled the reading from the same month last year. The not seasonally adjusted index, which calculates raw changes in tonnage hauled equaled 121.3 in October, 8.6% above September. The seasonally adjusted increase follows a decline in September, which was revised up slightly from the October 22 press release.

UPM Biofuels was chosen as the Bioenergy Industry Leader at the 2017 Platts Global Energy Awards - often described as the Oscars of the energy industry. The competition was arranged by S&P Global Platts, the leading independent provider of market information and benchmark prices for commodities in the energy sector. UPM Biofuels was nominated for its wood-based low emission advanced UPM BioVerno biofuels, and its one-of-a-kind commercial scale biorefinery in Lappeenranta, Finland. The choice was made among energy companies from nearly 30 countries representing four continents, including some of the world's leading energy giants. Click Read More below for additional information.