CEO John O’Leary told reporters the plant would be the company’s largest truck manufacturing facility in the United States when up and running.

Trucking companies serving the major ports across the country continued to see capacity tightening while also moving beyond difficult prior-year comparisons.

Saudi oil exports have been disrupted for months as the U.S.-Iran conflict all but shut down Persian Gulf crude flows.

State producer Saudi Aramco will reduce its Arab Light oil price for delivery to customers in Asia next month by 50 cents a barrel to $2 a barrel less than the regional benchmark.

GXO Logistics on Aug. 5 announced significant changes to its operating model aimed at sustaining growth through high-margin contracts and reducing costs.

The results offer investors a measure of relief after a punishing stretch for Hertz, which has contended with heavy depreciation costs, volatile finances and pressure on its stock.

Class 8 truck orders rose sharply on a year-over-year basis in July, but full 2026 production backlogs and uncertainty over EPA rules cloud the outlook.

Trimac Transportation acquired food-grade bulk carrier California Freight for an undisclosed sum, its second acquisition in the Golden State in two years.

Canada and the U.S. are negotiating to find a trade deal by Aug. 19. That’s the date on which Trump promised the U.S. will apply new 50% tariffs on a fresh basket of Canadian-made goods.

ConocoPhillips announced that CEO Ryan Lance will retire and become executive chair of the board. CFO Andy O’Brien will become CEO effective Sept. 1.  

The price of Brent crude, the international standard, edged less than 0.1% higher to $79.50 a barrel.

U.S. dry and refrigerated van trailer imports from Canada and Mexico are now subject to antidumping duties, though at a lower rate than three complainants sought.

Used Class 8 truck sales in June further strengthened in response to freight conditions and inventory constraints, according to ACT Research data.

The global scramble for diesel is increasingly draining U.S. supplies. Exports of distillate fuel rose to 1.9 million barrels a day last week, according to data released by the EIA.

While fighting between the sides has paused for now, a number of other issues remain unresolved — not least Iran’s nuclear program.

Lucid is targeting $1.4 billion in cash savings this year in a broad push to reset its operations, an effort by new CEO Silvio Napoli to shore up the money-losing EV maker.

Energy Secretary Chris Wright said, “These temporary suspensions of the Jones Act have been quite helpful for moving energy around our country.” 

Replacement demand funded by the freight market rebound will continue to drive North American heavy-duty truck demand, engine maker Cummins’ top executive said.

Eight of the world’s largest shipping industry associations wrote, “Once such a precedent is established, it becomes increasingly difficult to resist similar measures elsewhere."

Uber Technologies issued a bookings outlook that just met analyst estimates and said fierce competition in the key Brazil market weighed on trips volume.