Afternoon Coffee: Oil Prices Reach 3-Month Highs, Staples Preps ‘Plan B’ Should Office Depot Merger Fall Through

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Brent crude prices hit $39.50 a barrel today, the highest price in three months. The rise follows reports of U.S. energy companies reducing drilling activity.

Staples is said to be working on a “Plan B” should its plan to takeover Office Depot fall through. The plan includes boosting growth in categories other than office supplies and closing low-performing stores.

A new report from Greenpeace states some corporations like PepsiCo and Johnson&Johnson are failing to reduce deforestation in their palm oil supply chains. Greenpeace found none of the 14 corporations it investigated could confirm there was no deforestation happening in their supply chains, nor could the companies provide a list of all their palm oil suppliers.

The U.S. Department of Transportation expects freight tonnage to increase 40% in the United States over the next 30 years. The agency estimates freight volumes will hit 69 million tons by 2045.

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