About one-quarter of the massive oil tankers trapped in the Persian Gulf when hostilities erupted between Iran and a U.S.-Israeli coalition in late February have now escaped the Strait of Hormuz, according to shipping data compiled by Bloomberg. Twenty-nine of the … Read more
The National Highway Traffic Safety Administration (NHTSA) has issued a warning about a rising scam targeting drivers in six states—Arizona, Florida, Indiana, Maryland, New York, and Texas. Fraudsters are sending fake text messages that impersonate NHTSA, demanding payment for nonexistent traffic … Read more
Tyres Europe has welcomed the European Commission’s draft revisions to the EU Deforestation Regulation (EUDR) and called for “swift adoption” of the regulation to bring about certainty in the industry. The association supports the proposed approach to tire retreading, which would … Read more
UPS is set to expand its North American Air Freight capabilities by debuting time-definite heavy airfreight service to and from Mexico for the first time. The service, which will be available across North America, targets automotive and industrial customers needing reliable … Read more
Ford Motor Co. is on track for its strongest monthly stock performance in 17 years, surging over 40% in May 2026 amid investor excitement over its potential role in the artificial intelligence boom. The Dearborn, Michigan-based automaker’s shares have climbed for … Read more
Toyota Motor Corp. has halted development of the next-generation Lexus LF-ZC electric vehicle, a move that scraps plans for a mid-2027 launch and buries advanced features like gigacasting and faster-charging batteries. The decision reflects a sweeping recalibration of electrification strategy as … Read more
Chevron CEO Mike Wirth has warned that multiple vessels transiting the Strait of Hormuz have been attacked in recent days, highlighting the persistent security risks in the Persian Gulf despite potential peace talks between the U.S. and Iran. Speaking at the … Read more
The U.S. goods trade deficit narrowed to $82.4 billion in April, driven by a 4% jump in exports, especially capital goods, consumer goods, and energy products. U.S. shipments of crude oil and fuels hit record levels, with domestic producers filling gaps … Read more
Global oil prices edged lower on May 29, 2026, after reports emerged of a tentative U.S.-Iran agreement to extend their ceasefire by 60 days. Brent crude, the international benchmark, slipped 0.1% to $92.58 per barrel, while U.S. benchmark crude also fell … Read more
A semi driver hauling a heavy load on I-55 in Illinois narrowly avoided a catastrophic rear-end collision with a Hyundai Sonata driver who almost came to a complete stop due to confusion over lane markings. The incident, which occurred on May … Read more