Key Currency Exchange Rates for Friday, 8/27/21
American Dollar to Canadian Dollar = 0.788553; American Dollar to Chinese Yuan = 0.154380; American Dollar to Euro = 1.176200; American Dollar to Japanese Yen = 0.009078; American Dollar to Mexican Peso = 0.049033.
https://www.x-rates.com/table/?from=USD&amount=1.00
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U.S. Crude Rises, Gasoline Falls as Refineries Restart
U.S. oil prices rose on Tuesday and gasoline fell as the gradual restart of refineries in the Gulf of Mexico that were shut by Hurricane Harvey raised demand for crude and eased fears of a fuel supply crunch.
Gasoline futures RBc1 dropped 4 percent from their last close, to $1.68 per gallon, down from $2.17 on Aug. 31 and back to levels last seen before Harvey hit the U.S. Gulf Coast and its large refining industry.
U.S. West Texas Intermediate crude futures Clc1 rose more than 1 percent to $47.84 per barrel by 1008 GMT, up 55 cents from their last settlement.
“Gasoline fell as refineries in Texas began to reopen,” said William O‘Loughlin, investment analyst at Rivkin Securities.
Texas was edging towards recovery from the devastation of Harvey as shipping channels, oil pipelines and refineries restarted some operations.
Truck driver shortage hits all-time high — could double by 2030 (chainstoreage.com)
A shortage of truck drivers is a big part of the country’s supply chain problems. The trucking industry is short 80,000 drivers, an all-time high for the industry, according to the American Trucking Associations. The shortage, which existed pre-pandemic but has grown worse since then, comes at a critical time in the retail supply chain cycle, with U.S. ports backlogged just before the start of the holiday shopping season. Truck drivers move 71% of the US economy's goods,. “Since we last released an estimate of the shortage, there has been tremendous pressure on the driver pool,” said Bob Costello, chief economist, ATA. “Increased demand for freight, pandemic-related challenges from early retirements, closed driving schools and DMVs, and other pressures are really pushing up demand for drives and subsequently the shortage." The outlook for the next few years doesn’t offer much hope. Based on driver demographic trends, including gender and age, as well as expected freight growth the shortage could surpass 160,000 in 2030.