Afternoon Coffee: Oil Prices Fall as Fire Threats Ease, Target Pressures Suppliers For Faster, Better Service

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Oil prices receded a bit today as the threat of the Canadian wildfires diminished slightly. Brent crude fell 1.9% to $44.52 a barrel and the U.S. benchmark was down 1.4% to $44.03 a barrel in New York. The wildfire in Alberta, Canada, shut down about 1 million barrels a day, or about one third of Canada’s oil sands production over the weekend.

Target is putting pressure on its suppliers to speed up services and has set some new rules that call for higher fines should a supplier be late on a delivery or share incorrect product information. The new rules are part of the retailer's broader initiative to improve supply chain operations and ensure stock levels remain at optimum levels.

U.S. Steel is asking its suppliers to write to the U.S. International Trade Commission to voice support for the company’s recently filed trade complaint against Chinese steel importers. U.S. Steel filed its complaint April 26 against China’s major steel producers.

Amazon, which just hit its 1-year anniversary of  Amazon Business, said it would make changes to its same-day delivery coverage areas, making sure to include more neighborhoods. The changes come after Amazon was accused of not offering same-day delivery to non-white neighborhoods.

 

 

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