The supply chain can’t catch a break:
- WTI Oil hits $68/barrel
- Road congestion costs U.S. truckers more than $42 billion in 2019 and led to 660 million hours in delays (Source: Federal Govt.)
- Rail congestion is a worry:U.S. rail regulators are seeking detailed assessments from freight railroads on their service plans amid growing demand
Add to this, after a cyberattack, JBS Swift is stopping production putting livestock movements on hold. What do you do with a truckload of hogs?
What is the future of diesel pricing…my crystal ball suggests increasing costs – don’t take my word for it: “The bull recipe for the oil market is still intact: reviving demand, muted U.S. shale oil response together with controlled and restrictive supply from OPEC+, resulting in further declines in inventories and yet higher oil prices,” said Bjarne Schieldrop, chief commodities analyst at Swedish bank SEB. (Source: Wall Street Journal)