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Crude oil prices surged Monday, and heating oil futures — which often parallel diesel prices because they are both distillate fuels — soared close to a record on speculation that global demand for fuels including diesel may rise faster than refineries can produce it, Bloomberg reported.

OPEC ministers are likely to keep crude oil output at or near capacity levels when they meet Wednesday in Vienna, the Wall Street Journal reported.

Click here to write a Letter to the Editor. ederal Reserve Chairman Alan Greenspan said Thursday said the U.S. economy is on “firm footing,” and that the central bank may keep raising the U.S. benchmark interest rate at a “measured” pace, cooling any speculation about a pause in rate increases, Bloomberg reported.

The U.S. trade deficit rose to $57 billion in April, the Commerce Department reported Friday.

The Senate Banking Committee approved Federal Reserve Governor Ben Bernanke to head the White House Council of Economic Advisers, Bloomberg reported Thursday.

Yellow Roadway Corp. may buy 50% of a Chinese freight-forwarding business to gain a foothold in that country, Bloomberg reported Friday.

Click here to write a Letter to the Editor. img src="http://www.ttnews.com/images/printeditiontag_new.gif" width=120 align=right>LOS ANGELES — The ports of Los Angeles and Long Beach have started signing up cargo owners, or shippers, to their recently launched OffPeak program, which is designed to reduce traffic congestion in the ports, said operator PierPass Inc.

Prices of imported goods fell 1.3% in May, the first drop this year, the Labor Department reported Friday.

Crude oil prices fell for the first week in three weeks, as higher U.S. inventories reduced concerns that refineries won’t meet peak demand later this year, Bloomberg reported.

Click here to write a Letter to the Editor. he Illinois Department of Transportation's announcement that it would begin full closures on some busy interstates south of Chicago beginning June 18 could significantly affect the operations of trucking companies in the area, a trucking industry official said.