PARADISE LIMOS LLC

Natural Gas Drillers Shut Wells as Prices Tank Below Breakeven

Elevation Resources CEO says gas losses are eating half the company's revenue. What falling wellhead prices mean for fleets running CNG.

OPEC+ Quota Hike Means Nothing While Hormuz Stays Shut

Cartel agrees to symbolic production increase for July, but Iran war keeps Middle East barrels landlocked and diesel climbing.

Compliance & FMCSA

Senate Panel Begins Work on Highway Bill, Safety Focus Expected

Senate Environment and Public Works Committee chair signals legislation will target transportation network safety and reliability. No text or timeline yet.

Diesel Prices May Stay High for Months as Hormuz Disruption Drags

If the Strait of Hormuz stays closed, elevated fuel costs could persist for months or years, not weeks.

LTL

ArcBest Pulls GRI Six Weeks Early as LTL Pricing Cycle Speeds Up

ABF Freight's 5.9% rate hike lands June 22, the fourth straight year the carrier has moved its annual increase forward on the calendar.

Carrier Business

Hub Group CFO and COO Exit Ahead of September Earnings Refilings

Two longtime executives left leadership roles as the intermodal carrier works to correct accounting errors that will force it to refile multiple earnings reports.

Carrier Business

Kevin Knight Steps Down as Knight-Swift Executive Chairman

The co-founder who built Knight Transportation from startup to mega-carrier exits the executive suite after 36 years.

Carrier Business

California Heavy-Haul Carrier Magna Transportation Heads to Auction

A secured creditor is selling 37.5% of MagnaTrans LLC on June 30 under UCC foreclosure. What the auction means for the heavy-haul market.

Broker Fraud & Vetting

Eight Charged in $4.49M Carrier-Impersonation Scheme Spanning Three States

Manhattan prosecutors allege group stole lamb, cheese, beef, copper, and cigarettes by showing up at warehouses with legitimate carriers' MC numbers and DOT numbers on their tru…

Brent Crude Jumps to $94.25 as Iran Conflict Escalates

International benchmark rose 1.2% Monday after a $4.60 overnight spike. Diesel and fuel surcharges will follow.

Compliance & FMCSA

Ohio Revokes 1,200 Non-Domiciled CDLs, Ends Foreign Trucker Licensing

State pulled licenses for foreign drivers and stopped issuing non-domiciled CDLs. Carriers using Ohio-licensed foreign nationals face immediate driver shortages.

General

Bob Packwood, Trucking Deregulation Architect, Dies

The Oregon Republican co-sponsored the 1980 Motor Carrier Act that ended ICC rate and route control, reshaping the equipment market for four decades.