U.S. refiners are turning crude oil into gasoline and diesel at a pace not seen since before the pandemic, but even that is unlikely to rein in soaring prices.

The Fed’s rate-setting committee reached the 9-3 decision after two days of deliberations, marking the fifth straight meeting at which the benchmark rate was kept at around 3.6%.

"That’s the engagement we’ve had with many, many customers that that’s their preferred approach," CEO Preston Feight said.

The Treasury Department announced new penalties on Persian Gulf Marine Insurance and HormuzSafe Marine Services Authority, which it said force commercial vessels to purchase mandatory maritime “insurance” to transit Hormuz. 

The conflict looks set to drag on, possibly for months, with the sides unable to achieve a lasting ceasefire deal, according to officials from the U.S., Iran and Europe.

Brent crude, the international standard, jumped 5.6% to $86.64 a barrel. Brent oil’s price had swung as low as $72 early this month and as high as $102 last week.

The legislation would direct FMCSA to study chameleon carriers and plan, develop and test an automation tool to detect chameleon carrier applications.

In a matter of months, Walmart has become a major player in the burgeoning business of quickly fueling electric vehicles, speeding past Costco with its in-house network of electron pumps. 

BMW and its German peers are slashing expenses in response to challenges including slumping sales in China, U.S. tariffs and high production costs in Europe. 

Ford posted earnings ahead of Wall Street estimates and raised its outlook for the second time this year on higher prices and strong sales of high-margin SUVs.

TFI International envisions rolling out autonomous trucks as part of its U.S. less-than-truckload linehaul business in 2027, according to a key executive.

Two months after Ford became the latest old-economy manufacturer to be swept up in the AI rally, investors are looking for proof the enthusiasm was justified.

The truckload unit again drove results at the Montreal-based carrier in the second quarter of 2026 as the freight market rebounded.

The carrier is looking into adding a nonunion LTL carrier for around C$200 million, or $142 million at current exchange rates, CEO Alain Bédard said.

A Senate bill would make staged crashes into commercial motor vehicles a federal crime as New York trains investigators to prosecute these insurance fraud schemes.

Demand for LNG carriers is expected to be strong over the next decade, driven by a surge in investment for new export terminals in the U.S. and other regions.

The second quarter of 2026 saw the strongest increase in truck and tractor rental demand in four years on a sequential basis, according to a key Ryder executive.

CMA CGM reported higher second-quarter sales and profit as a rise in freight volumes offset new shipping capacity coming into the market and higher costs related to the war in the Middle Eas.

The shortfall in goods trade declined 4.2% from the prior month to $101.5 billion. U.S. exports of goods fell 1.8%, led by a slide in industrial supplies, while imports dropped by 2.6%.

Coca-Cola continues to gain traction among shoppers with a widening portfolio of beverages, including sugar-free soda, sports drinks and water, at a time when the industry has seen consumers turn away from traditional full-calorie soft drinks.