Afternoon Coffee: Oil Supplies Stall, And Is It A Bird? A Plane? What Will New USPS Vehicle Be?


Oil inventories barely increased last week, pushing the price of oil up today. The price for US benchmark oil hit $56 a barrel, a high for the year, after the Energy Department reported earlier stockpiles jumped just 1.29 million barrels, less than was expected.

Some 15 suppliers are competing to create the next US Postal Service vehicle, which could be anything from a battery-powered car to a high-tech drone. The USPS is looking to replace about 180,000 vehicles in its current fleet.

Speaking of drone, a company in San Francsico, is releasing hardware and software that would make flying commercial drones easier.

Demand for new cars spiked in Europe during March, rising by 11%. Spain, Portugal, Greece and Ireland are among the countries that reported increased car sales during last month.

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