American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 6.7% in September after declining 5.3% in August. In September, the index equaled 115.1 (2015=100) compared with 107.9 in August. “September had a nice recovery after a significant decline in August,” said ATA Chief Economist Bob Costello. “The truck freight market continues to be bifurcated, with strength in retail and home construction, but some continued weakness in industrial freight. During the third quarter, truck tonnage increased 2.4% over the second quarter, but fell 5.3% from a year earlier.” August’s decrease was revised up to -5.3% from our September 22 press release.
Saudi Arabia has informed five Asian refiners that it will supply full contractual volumes of crude oil in July, five sources with knowledge of the matter said on Tuesday.
The world’s top crude exporter has also reinstated contracted volumes of Arab Heavy crude to one buyer after cutting supplies in the previous month, one of the sources said.
Last month, the state oil giant maintained full contractual supplies to Asia for June supplies by replacing Arab Heavy with Arab Light. The Arab Heavy was redirected to domestic power plants to meet the increased demand for electricity for summer cooling needs.
The Arab Heavy supply cut, combined with a drop in Venezuelan crude exports and robust demand in Asia, pushed up medium and heavy sour crude prices in Asia last month although light grades were lower because of ample supplies.
more at source: https://www.nasdaq.com/article/saudi-arabia-to-supply-full-july-crude-oil-volumes-to-some-asian-buyers-20180612-00007