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Transportation

NYMEX crude oil futures took a tumble at the end of April compared to the rest of the month. However, crude oil prices are still floating above their 52-week range of $43.80-$75.65 per barrel.

Gasoline and diesel fuel prices are up across the board from the previous week.

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With pressure to lower carbon output, many members of the global shipping industry are calling for mandatory slow steaming on all ocean vessels. As travel times for trans-Pacific trade have been already increasing, this slowdown will only exaggerate transit times. A potential benefit may be that this would put pressure on shipping companies to put more boats on the water but the trade-off with launching ships under capacity, port congestion, and labor costs may not make the most economical sense. It would provide a counter-balance to the massive consolidations whose effects are still rippling through the supply-chain.

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