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Brent crude, considered by most analysts to be the global benchmark for oil prices, fell below $50 a barrel for the first time since January amid slowing demand growth and growing global oversupply.
An informal poll of private carriers by Stifel's transportation group found that carriers have been able to push through contract price increases in the 4 to 8 percent range despite lower than expected demand.
Officials in the Chinese city are curbing the movement of petroleum and other chemicals through the port while the investigation into last week's massive warehouse explosion continues.
The U.S. Coast Guard closed part of the Mississippi River Thursday after a collision between two ships caused oil to leak into the water.
State-owned China Railway Rolling Stock Corporation, the first Chinese railcar firm to win a major transit contract in the United States, will produce and assemble cars for the Boston, Mass. subway system.
The airline group reported August cargo volumes dropped to 417 million cargo ton kilometers.