The US federal budget deficit widened 2% to $1.37 trillion in the first nine months of fiscal 2026, Treasury Department data showed on July 13, 2026. The shortfall for June alone hit $120 billion, reversing a months-long narrowing trend driven…
A bitter lobbying war has erupted between energy companies and maritime advocates over whether President Donald Trump should extend a 150-day waiver of the century-old Jones Act, which mandates that vessels transporting cargo between U.S. ports must be built, owned,…
Iran exported at least 57 million barrels of crude oil—roughly 2.2 million barrels per day—during a temporary easing of U.S. naval blockades on Iranian shipping through the Strait of Hormuz. The gap between blockades allowed Tehran to ramp up exports…
The United Arab Emirates informed OPEC that its crude oil production skyrocketed by 80% in June, reaching approximately 3.8 million barrels per day. This surge follows Abu Dhabi’s decision to exit OPEC’s production limits at the start of May, effectively…
Stellantis reported a 10% increase in second-quarter shipments, totaling approximately 1.6 million vehicles, driven by strong growth in North America. The company saw a 38% jump in North American shipments, with the reintroduction of popular models such as the Ram…
Volkswagen CEO Oliver Blume has outlined plans to cut up to 50,000 additional jobs globally as part of a sweeping cost-reduction overhaul. The move reflects the company’s high overhead, which is roughly 20% above its rivals, as well as pressure…
The United States and Iran have exchanged strikes on July 13, with both countries claiming control of the Strait of Hormuz. The conflict has disrupted a key global oil and gas route, with Iran targeting vessels and traffic dropping sharply…
Oil prices have jumped and world shares are mixed after the U.S. carried out airstrikes and Iran retaliated. The price of Brent crude, the international standard, climbed as much as nearly 5% early on July 13 before falling back to…
Transport Topics has relaunched its print issue after more than a year of work, following an initial design preview with its Top 100 For-Hire Carriers list edition. The relaunch reflects reader research showing busy trucking professionals increasingly use digital news…
Egypt has signed a $300 million agreement with China’s Zenith Group to build a facility producing tire steel reinforcement materials at the Suez Canal Economic Zone. The project will produce 120,000 tonnes/year of steel cord for tires and 50,000 tonnes/year…