{"id":17409,"date":"2025-06-01T10:22:53","date_gmt":"2025-06-01T14:22:53","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=17409"},"modified":"2025-06-03T08:58:03","modified_gmt":"2025-06-03T12:58:03","slug":"pfl-railcar-report-6-2-2025","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/pfl-railcar-report-6-2-2025\/","title":{"rendered":"PFL Railcar Report 6-2-2025"},"content":{"rendered":"\n<p class=\"has-text-align-center\"><strong><em>\u201cBeware of false knowledge; it is more dangerous than ignorance.\u201d George Bernard Shaw<\/em><\/strong><\/p>\n\n\n\n<center><iframe width=\"100%\" style=\"width: 100%; aspect-ratio: 16 \/ 9;\" src=\"https:\/\/www.youtube.com\/embed\/CG05jdl3juk\" title=\"The PFL Petroleum Services Weekly Briefing\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen>The PFL Petroleum Services Weekly Briefing<\/iframe><\/iframe><\/center>\n\n\n\n<div style=\"height:21px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center has-black-color has-text-color\"><strong><u>Jobs Update<\/u><\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><span style=\"text-decoration: underline;\">Initial jobless claims seasonally adjusted for the week ending May 24 came in at 240,000<\/span><\/strong>, up 14,000 people week-over-week.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"403\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-63.png\" alt=\"\" class=\"wp-image-17411\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-63.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-63-300x156.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-63-768x398.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<ul class=\"wp-block-list\">\n<li><strong><span style=\"text-decoration: underline;\">Continuing jobless claims came in at 1.919 million people<\/span><\/strong>, versus the adjusted number of 1.893 million people from the week prior, up 26,000 people week-over-week.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"778\" height=\"449\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-64.png\" alt=\"\" class=\"wp-image-17412\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-64.png 778w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-64-300x173.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-64-768x443.png 768w\" sizes=\"auto, (max-width: 778px) 100vw, 778px\" \/><\/figure>\n<\/div>\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Stocks closed lower on Friday of last week, but higher week over week<\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">The DOW closed higher on Friday of last week, up 54.34 points (+0.13%) , closing out the week at 42,270.07<\/span>,<\/strong> up 667 points week-over-week. <strong><span style=\"text-decoration: underline;\">The S&amp;P 500 closed lower on Friday of last week, down -0.48 points, and closed out the week at 5,911.69<\/span><\/strong> up 108.87<strong> <\/strong>points week-over-week. <strong><span style=\"text-decoration: underline;\">The NASDAQ closed lower on Friday of last week, down -62.11 points, and closed out the week at 19,113.77<\/span>,<\/strong> up 376.57 points week-over-week.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">In overnight trading, DOW futures traded lower and are expected to open at 42,055 this morning down 239 points from Friday\u2019s close.<\/span><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Crude oil closed lower on Friday of last week and lower week over week.<\/strong><\/h4>\n\n\n\n<p><span style=\"text-decoration: underline;\"><strong>West Texas Intermediate (WTI) crude closed down -15 cents per barrel (-0.25%), to close at $60.79 per barrel<\/strong> <\/span>on Friday of last week and down -74 cents per barrel week over week. <span style=\"text-decoration: underline;\"><strong>Brent crude closed down \u201325 cents USD per barrel (-0.39%) on Friday of last week, to close at $63.90 per barrel<\/strong> <\/span>down -68 cents per barrel week-over-week.<\/p>\n\n\n\n<p class=\"has-text-align-left\"><span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.oneexchangecorp.com\/\"><strong>One Exchange WCS<\/strong><\/a><strong> (Western Canadian Select) <\/strong><\/span><strong>&nbsp;<span style=\"text-decoration: underline;\">for July delivery settled on Friday of last week at US$9.35 below the WTI-CMA (West Texas Intermediate \u2013 Calendar Month Average)<\/span><\/strong>. The implied value was US$50.64 per barrel.<br><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">U.S. commercial crude oil inventories<\/span><\/strong> (excluding those in the Strategic Petroleum Reserve) <strong><span style=\"text-decoration: underline;\">decreased by 2.8 million barrel<\/span>s<\/strong> week-over-week. At 440.4 million barrels, <strong><span style=\"text-decoration: underline;\">U.S. crude oil inventories are 6% below the five-year average for this time of year.<\/span><\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"346\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-51.png\" alt=\"\" class=\"wp-image-17367\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-51.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-51-300x134.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-51-768x342.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p class=\"has-text-align-left\"><strong><span style=\"text-decoration: underline;\">Total motor gasoline inventories decreased by 2.4 million barrels<\/span><\/strong> week-over-week and are 3% below the five-year average for this time of year.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"347\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-52.png\" alt=\"\" class=\"wp-image-17368\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-52.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-52-300x134.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-52-768x343.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Distillate fuel inventories decreased by 700,000 barrels<\/span> <\/strong>week-over-week and are 17% below the five-year average for this time of year.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"779\" height=\"347\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-53.png\" alt=\"\" class=\"wp-image-17369\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-53.png 779w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-53-300x134.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-53-768x342.png 768w\" sizes=\"auto, (max-width: 779px) 100vw, 779px\" \/><\/figure>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Propane\/propylene inventories increased by 2 million barrels<\/span><\/strong> week-over-week and are 4% below the five-year average for this time of year.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"346\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-54.png\" alt=\"\" class=\"wp-image-17370\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-54.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-54-300x134.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-54-768x342.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><span style=\"text-decoration: underline;\">Propane prices closed at 77 cents per gallon on Friday of last week, down 1 cent per gallon<\/span><\/strong> week-over-week, but up 6 cents per gallon year-over-year.<br><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"778\" height=\"344\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-55.png\" alt=\"\" class=\"wp-image-17371\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-55.png 778w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-55-300x133.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-55-768x340.png 768w\" sizes=\"auto, (max-width: 778px) 100vw, 778px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><span style=\"text-decoration: underline;\">Overall, total commercial petroleum inventories decreased by 700,000 barrels<\/span><\/strong> during the week ending May 23, 2025.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">U.S. crude oil imports averaged 6.4 million barrels per day<\/span> <\/strong>during the week ending May 23, 2025<strong>, <span style=\"text-decoration: underline;\">an increase of 262,000 barrels per day<\/span><\/strong> week-over-week. Over the past four weeks, <strong><span style=\"text-decoration: underline;\">crude oil imports averaged 6 million barrels per day<\/span><\/strong>, 10.3% less than the same four-week period last year. <strong><span style=\"text-decoration: underline;\">Total motor gasoline imports<\/span><\/strong> (including both finished gasoline and gasoline blending components) <strong><span style=\"text-decoration: underline;\">last week averaged 755,000 barrels per day, and distillate fuel imports averaged 114,000 barrels per day<\/span><\/strong> during the week ending May 23, 2025.<\/p>\n\n\n\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"342\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-57.png\" alt=\"\" class=\"wp-image-17373\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-57.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-57-300x132.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-57-768x338.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><span style=\"text-decoration: underline;\">U.S. crude oil exports averaged 4.301 million barrels per day<\/span><\/strong> during the week ending May 23, 2025, an increase of 794,000 barrels per day week-over-week. Over the past four weeks, crude oil exports averaged 3.796 million barrels per day.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"780\" height=\"345\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-58.png\" alt=\"\" class=\"wp-image-17374\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-58.png 780w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-58-300x133.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-58-768x340.png 768w\" sizes=\"auto, (max-width: 780px) 100vw, 780px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><span style=\"text-decoration: underline;\">U.S. crude oil refinery inputs averaged 16.3 million barrels per day<\/span><\/strong> during the week ending May 23, 2025, which was 162,000 barrels per day less week-over-week.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"776\" height=\"340\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-59.png\" alt=\"\" class=\"wp-image-17375\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-59.png 776w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-59-300x131.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-59-768x336.png 768w\" sizes=\"auto, (max-width: 776px) 100vw, 776px\" \/><\/figure>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p><span style=\"text-decoration: underline;\"><strong>WTI is poised to open at $63.02, up\u00a0$2.23 per barrel from Friday\u2019s close.<\/strong><\/span><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><span style=\"text-decoration: underline;\">North American Rail Traffic<\/span><\/strong><\/h4>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Week Ending May 28, 2025.<\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Total North American weekly rail volumes were down (-2.05%) in week 22<\/span><\/strong>, compared with the same week last year. Total carloads for the week ending on May 28 were 324,222, up (0.31%) compared with the same week in 2024, while weekly intermodal volume was 318,851, down (-4.33%) compared to the same week in 2024.&nbsp;<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">6 of the AAR\u2019s 11 major traffic categories posted year-over-year decreases<\/span><\/strong>. The largest decrease came from Forest Products, which was down (-16.95%), while the largest increase was from Coal, which was up (+12.07%).<\/p>\n\n\n\n<p>In the East,<strong> <span style=\"text-decoration: underline;\">CSX\u2019s total volumes were down&nbsp; (-1.68%)<\/span>, <\/strong>with the largest decrease coming from Petroleum and Petroleum Products (-12.91%), while the largest increase came from Grain (+7.87%). <strong><span style=\"text-decoration: underline;\">NS\u2019s volumes were up (+4.34%)<\/span>, <\/strong>with the largest increase coming from Coal (+24.83%), while the largest decrease came from Chemicals (-8.02%).<\/p>\n\n\n\n<p class=\"has-text-align-left\">In the West, <strong><span style=\"text-decoration: underline;\">BN\u2019s total volumes were down (-6.46%)<\/span>, <\/strong>with the largest increase coming from Motor Vehicles and Parts (+18.43%), while the largest decrease came from Coal (-19.65%). <strong><span style=\"text-decoration: underline;\">UP\u2019s total rail volumes were up (+0.75%)<\/span>, <\/strong>with the largest increase coming from Coal (+24.47%), while the largest decrease came from Farm Products (-7.98%).<\/p>\n\n\n\n<p class=\"has-text-align-left\">In Canada,<strong> <span style=\"text-decoration: underline;\">CN\u2019s total rail volumes were down (-4.42%)<\/span> <\/strong>with the largest increase coming from Grain, up (+52.94%), while the largest decrease came from Intermodal Units (-30.88%).<strong> <span style=\"text-decoration: underline;\">CPKCS\u2019s rail volumes were down 16.75%<\/span>,<\/strong> with the largest increase coming from Coal (+21.05%), while the largest decrease came from Forest Products (-66.58%)<\/p>\n\n\n\n<p class=\"has-text-align-center\"><\/p>\n\n\n\n<p class=\"has-text-align-center\"><a id=\"_msocom_1\"><\/a><strong>Source Data: AAR &#8211; PFL Analytics<\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center has-black-color has-text-color\" id=\"rig-count\"><strong><u>Rig Count<\/u><\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">North American rig count was down by -5 rigs week-over-week. U.S. rig count was down -3 rigs week over week and down by -37 rigs year-over-year<\/span><\/strong>. The U.S. currently has 563 active rigs. <span style=\"text-decoration: underline;\"><strong>Canada&#8217;s rig count down -2 rigs week-over-week and down by -16 rigs year-over-year<\/strong>.<\/span> Canada currently has 112 active rigs. Overall, year-over-year, we are down by -53 rigs collectively.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\" id=\"north-american-rig-count-summary\"><u><strong>North American Rig Count Summary<\/strong><\/u><\/h4>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"708\" height=\"124\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-66.png\" alt=\"\" class=\"wp-image-17419\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-66.png 708w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-66-300x53.png 300w\" sizes=\"auto, (max-width: 708px) 100vw, 708px\" \/><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"367\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-65.png\" alt=\"\" class=\"wp-image-17418\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-65.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-65-300x142.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/05\/image-65-768x363.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><u>A few things we are watching<\/u><\/strong>:<\/h4>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We are watching Petroleum Carloads<\/em><\/strong><\/h4>\n\n\n\n<p><span style=\"text-decoration: underline;\"><strong>The four-week rolling average of petroleum carloads carried on the six largest North American railroads rose to 27,395 from 27,255 which was an increase of +140 rail cars week-over-week.<\/strong>&nbsp; <strong>Canadian volumes were mixed.<\/strong><\/span> CPKC\u2019s shipments were lower by -11.0% week over week, CN\u2019s volumes were higher by +3.0% week-over-week. <span style=\"text-decoration: underline;\"><strong>U.S. shipments were mostly higher.<\/strong> <\/span>&nbsp; The NS had the largest percentage increase and was up by +15.0%.&nbsp; The CSX was the sole decliner and was down by -6.0%<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We Watching are New York and Natural Gas \u2013 is the tide turning?<\/em><\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Is New York considering expanding much needed pipeline infrastructure?<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Two long-stalled natural gas pipeline projects in New York may soon be back on the table.<\/span> <\/strong>Pipeline developer Williams Companies is preparing to resubmit permit applications to federal regulators for the Constitution and Northeast Supply Enhancement (NESE) pipelines, according to sources familiar with the situation.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">This move aligns with President Trump\u2019s broader push to bolster fossil fuel infrastructure and roll back initiatives focused on renewable energy<\/span><\/strong> that were championed by the previous administration.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">The Constitution Pipeline, originally proposed in 2012, was designed to carry natural gas 124 miles from the Appalachian shale fields into New York and New England.<\/span><\/strong> Despite sitting near one of the world\u2019s most productive gas reserves, the Northeast faces some of the country\u2019s highest energy costs due to a lack of pipeline infrastructure. The project was scrapped in 2020 after New York State denied a critical water-quality permit, following years of legal disputes.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Williams plans to revive the Northeast Supply Enhancement (NESE) project, which would expand its existing pipeline system under New York Harbor. The company halted work on NESE in 2023 after nearly a decade of delays.<\/span><\/strong><\/p>\n\n\n\n<p>In a March interview, Williams\u2019 CEO, Alan Armstrong, expressed hesitation about restarting the Constitution project without clear state support. \u201cWe\u2019re not going to stick our necks out again unless the path is made crystal clear,\u201d he said.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">NY Governor Hochul\u2019s office maintains that no specific deal was made with Trump regarding the pipelines. However, her administration has taken a more flexible stance on natural gas than that of the previous administration.<\/span><\/strong> Earlier this year, New York approved an expansion of an existing gas pipeline\u2014a move seen as a softening of the state&#8217;s stance on fossil fuel infrastructure.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Governor Hochul\u2019s speaking about a wind project recently, emphasized the need to balance legal compliance with affordability and energy reliability for consumers<\/span>.<\/strong> While she didn\u2019t mention pipelines, Trump officials and energy executives interpreted her comments as a signal of openness to increasing pipeline capacity. Burgum echoed this sentiment online, praising Hochul\u2019s \u201cwillingness to move forward on critical pipeline capacity.\u201d<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Increased pipeline capacity in the Northeast will lead to more gas production in the region along with associated LPGs, which would great for rail.<\/span><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We are watching GATX<\/em><\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Folks, we\u2019re watching another shake-up in the North American rail landscape and it\u2019s a big one.<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">On May 29, 2025, Wells Fargo signed a deal to offload its $4.4 billion rail equipment leasing portfolio.<\/span><\/strong> The buyer? A new joint venture between rail leasing heavyweight GATX Corporation and infrastructure investment giant Brookfield Infrastructure. This is a massive handoff\u2014one that could reshape the leasing market across North America.<\/p>\n\n\n\n<p><strong>The Deal, At a Glance &#8211; Here\u2019s what\u2019s moving:<\/strong><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Wells Fargo is exiting the rail game entirely.<\/span><\/strong> That means around 105,000 railcars under operating leases and 23,000 railcars and 440 locomotives under finance leases are changing hands.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Brookfield will take over the finance lease portion directly.&nbsp; GATX and Brookfield will split the operating lease assets through a JV<\/span><\/strong>\u201470% Brookfield, 30% GATX to start, with GATX managing all commercial and operational activities. They also have the option to take full ownership down the line.<\/p>\n\n\n\n<p>The deal is expected to close in Q1 2026.&nbsp; <strong><span style=\"text-decoration: underline;\">Wells Fargo says this is part of a broader strategy to simplify and focus on core services.<\/span><\/strong> EVP David Marks said the deal helps the company \u201cfocus on products and services that are core to our clients.\u201d In other words: rail leasing no longer makes the cut.<\/p>\n\n\n\n<p>This wasn\u2019t a distressed sale. This was a power handoff, and it sets the stage for growth under new leadership.<\/p>\n\n\n\n<p><strong>What This Means for the Rail World:<\/strong><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">For GATX, it\u2019s a natural expansion of their dominant role in the railcar leasing space<\/span><\/strong>. With Brookfield\u2019s backing, GATX gains access to new capital and the ability to grow at scale. For Brookfield, it\u2019s another strategic play in hard infrastructure\u2014adding reliable, income-generating assets to their portfolio.<\/p>\n\n\n\n<p>If you\u2019re a shipper with Wells Fargo-leased assets, now\u2019s the time to pay attention. Lease terms, pricing, and asset repositioning strategies could shift under the new ownership.<\/p>\n\n\n\n<p><strong>PFL\u2019s Take:<\/strong><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">At PFL, we\u2019re watching this closely<\/span>.<\/strong> This is a huge shift in leasing capacity\u2014and with it comes opportunity. If you\u2019re considering new lease arrangements, evaluating storage options, or wondering how this change might affect your footprint\u2014we\u2019re here to help.<\/p>\n\n\n\n<p><strong>The Bottom Line:<\/strong><\/p>\n\n\n\n<p>This May 29th announcement is a strategic retreat by Wells Fargo and a bold forward move by GATX and Brookfield. Big players are consolidating\u2014make sure you\u2019re aligned with a partner who can keep you moving, no matter how the tides shift.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We are watching the U.S. Supreme Court&nbsp;<\/em><\/strong><\/h4>\n\n\n\n<p>It was a busy and endless news day for positive rail developments on Friday of last week. In other rail news, <strong><span style=\"text-decoration: underline;\">the U.S. Supreme Court ruled on Friday of last week that federal agencies are not required under the National Environmental Policy Act (NEPA) to evaluate environmental impacts of projects that are outside their direct regulatory purview.<\/span> <\/strong>The 8\u20130 decision clears the path for the 88-mile Uinta Basin Railway project in Utah, which will facilitate the transportation of up to 350,000 barrels of crude oil per day from the Uinta Basin to national markets. The Surface Transportation Board (STB) had initially approved the project, but a lower court vacated that decision, arguing that the environmental review failed to account for the broader impacts of increased oil drilling and downstream emissions. The Supreme Court disagreed, finding the STB\u2019s focus on the direct effects of the rail line sufficient under NEPA.<\/p>\n\n\n\n<p><span style=\"text-decoration: underline;\"><strong>This ruling marks a significant shift in how environmental reviews may be conducted for major infrastructure projects going forward<\/strong>.<\/span> By narrowing the scope of what agencies must consider under NEPA, the Court\u2019s decision may accelerate fossil fuel and transportation developments by sidestepping analysis of indirect or cumulative environmental effects, such as greenhouse gas emissions or ecological disruptions in neighboring states. <strong><span style=\"text-decoration: underline;\">Environmental groups and 15 states, including Colorado, opposed the project, citing risks to air quality, water resources, and the Colorado River watershed.<\/span><\/strong> Nonetheless, the ruling establishes a precedent that could limit legal challenges to similar projects in the future, reshaping the regulatory landscape for federal infrastructure approvals.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We are watching Canadian National Railway&nbsp;<\/em><\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Canadian National Railway (CN) has announced a substantial investment of C$765 million in 2025 to enhance its rail infrastructure in Quebec and Saskatchewan.<\/span><\/strong> In Quebec, CN is allocating C$475 million toward track maintenance and infrastructure upgrades, with a particular focus on improving operational efficiency at the Taschereau rail yard in Dorval. This investment aims to bolster the reliability and capacity of the rail network, facilitating the efficient movement of goods. In Saskatchewan, CN plans to invest C$290 million to support sustainable growth and meet the evolving demands of the freight transportation sector, particularly concerning essential commodities such as grain and fertilizers.<a href=\"https:\/\/www.railwaynews.net\/cn-invests-765m-in-quebec-saskatchewan-rail-upgrades.html?utm_source=chatgpt.com\">&nbsp;<\/a><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">In addition to these infrastructure investments, CN reported positive performance metrics for the week ending May 24, 2025. The company experienced a 0.8% year-over-year increase in carloads and a 3.3% rise in revenue ton-miles<\/span> <\/strong>(RTMs), indicating a steady growth in freight volume and operational efficiency. These figures reflect CN&#8217;s commitment to enhancing its service capabilities and supporting the broader economic landscape through strategic investments and operational improvements.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We are Watching Economic Indicators<\/em><\/strong><\/h4>\n\n\n\n<p class=\"has-text-align-center\"><strong>Consumer Spending<\/strong><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">In April 2025, total consumer spending adjusted for inflation rose by 0.2%<\/span> <\/strong>over March 2025, a slowdown from the 0.7% gain in March and the 0.4% increase in February. This deceleration reflects growing caution among households amid tariff-related economic uncertainty. According to the U.S. Bureau of Economic Analysis, the increase in current-dollar personal consumption expenditures (PCE) was $47.8 billion, driven by a $55.8 billion rise in services spending, partially offset by an $8.0 billion decline in goods spending.<a href=\"https:\/\/www.reuters.com\/business\/us-consumer-spending-slows-april-inflation-rises-moderately-2025-05-30\/?utm_source=chatgpt.com\">&nbsp;<\/a><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">The personal saving rate climbed to 4.9% in April, up from 3.9% in March, reaching its highest level in a year<\/span><\/strong>. This increase suggests that consumers are opting to save more amid economic uncertainties.<a href=\"https:\/\/www.bea.gov\/data\/income-saving\/personal-income?utm_source=chatgpt.com\">&nbsp;<\/a><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Year-over-year, the PCE price index rose by 2.1%, down from 2.3% in March, indicating continued moderation in consumer inflation.<\/span><\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXefnmSs7ff1w2ykd7brwguI7fOCmC_-EbhO8D9S6rmKDWGLy51WUKdT7mrpjRozgHcGk6eL0XtcTsCzRGaXNL6AWVVdLKg6tjYTE1B79_SXO3ZM99bicogKPLn1exua1aw7Ocbj?key=uue5ak4QmTblqcBu1UxhgQ\" alt=\"\"\/><\/figure>\n<\/div>\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Consumer Confidence<\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">The Conference Board\u2019s Index of Consumer Confidence increased to 98 in May 2025, up from 85.7 in April.<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">The University of Michigan\u2019s Index of Consumer Sentiment increased to 52.2 in April, up from 50.8 in April.<\/span><\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXcQ_tZdirAG-zH4Ccx1GHN0CF8pBH7fqOpSOMI0IG_DlUPUwNlvD54G9bNZ47SY6I1eDlCN2PBSbT1pg1JbajrkrTBMBJKvYR5dLuLv1z9mtdFJNr8CunVLglfyFurakElZGo7x?key=uue5ak4QmTblqcBu1UxhgQ\" alt=\"\"\/><\/figure>\n<\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Lease Bids<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>10, 2500CF Open Top Hoppers needed off of UP or BN in Texas for 5 years. Cars are needed for use in aggregate service. Need Rapid Discharge Doors<\/li>\n\n\n\n<li>50, 5000CF Covered Hoppers needed off of UP or BN in Houston for 6 Month. Cars are needed for use in Fertilizer service. Needed ASAP<\/li>\n\n\n\n<li>30-50, 6000cf Steel Hoppers needed off of CSX or NS in East for 5 Year. Cars are needed for use in petcoke service.<\/li>\n\n\n\n<li>50, 23.5-25.5 DOT111 Tanks needed off of Any Class 1 in USA for 5 years. Cars are needed for use in Asphalt service.<\/li>\n\n\n\n<li>20, 25.5k CPC 1232 Tanks needed off of UP, BN, CSX, NS in OK, TX, Northeast for 3 Year. Cars are needed for use in Asphalt service.<\/li>\n\n\n\n<li>10, 30K 117R or 117J Tanks needed off of Any Class 1 in USA for 1 year. Cars are needed for use in Glycerin service.<\/li>\n\n\n\n<li>15-20, 29K 117R Tanks needed off of NS or CSX in Ohio for 6-12 Months. Cars are needed for use in Ply Oil service.<\/li>\n\n\n\n<li>20, 30K 117J Tanks needed off of UP or BN in Midwest for 5 Years. Cars are needed for use in Ethanol service.<\/li>\n\n\n\n<li>100, 30K 117J Tanks needed off of BN in Montana for 2 years. Cars are needed for use in Crude service.<\/li>\n\n\n\n<li>10, 25.5K Any Type Tanks needed off of CSX in Florida for 2 Years. Cars are needed for use in UCO service.<\/li>\n\n\n\n<li>10, 25.5K Any Type Tanks needed off of Any Class 1 in Any Location for 3-12 months. Cars are needed for use in Asphalt service.<\/li>\n\n\n\n<li>6, 30K 117R or 117J Tanks needed off of Any Class 1 in USA for 1 year. Cars are needed for use in Av Gas service.<\/li>\n\n\n\n<li>10, 25.5K-30K 117R or 117J Tanks needed off of UP or BN in Texas for 1 year. Cars are needed for use in Dicyclopentadiene service.<\/li>\n\n\n\n<li>70, 30K DOT 117R\/ DOT 117J Tanks needed off of UP in Corpus Christi for 5 Year. Cars are needed for use in Gasoline service.<\/li>\n\n\n\n<li>20, 28.3K 117J Tanks needed off of BN in Montana for 2 years. Cars are needed for use in Crude service.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Sales Bids<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>28, 3400CF &nbsp;Covered Hoppers needed off of UP BN in Texas. Cars are needed for use in Cement service. Cement Gates needed.&nbsp;<\/li>\n\n\n\n<li>20, 17K DOT111 Tanks needed off of various class 1s in various locations. Cars are needed for use in corn syrup service.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Lease Offers<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>60, 4750, Covered Hoppers located off of UP or BN in Eads, CO. Cars are clean UP to 5 Years, 3 Hopper, Gravity Gate, Trough Hatches<\/li>\n\n\n\n<li>100, 6250, Covered Hoppers located off of UP in US . Cars were last used in DDG. 1 Year term. Dirty to Dirty. Free move on UP.<\/li>\n\n\n\n<li>50, 33K, 400W Pressure Tanks located off of All Class 1s in US and Canada. Cars were last used in Propane. Summer or Longer Lease Available.<\/li>\n\n\n\n<li>50, 29K , DOT 111 Tanks located off of CN in Hamilton, ON. Cars were last used in Biodiesel. 1 year +<\/li>\n\n\n\n<li>20-25, 30K, 117J Tanks located off of BNSF in West Texas. Cars were last used in Ethanol. 1 year minimum<\/li>\n\n\n\n<li>24, 25.5K-30K, DOT 111 Tanks located off of UP or BN in Texas. Cars were last used in Base Oils. 1-2 Year<\/li>\n\n\n\n<li>25-50, 19.6K, DOT 111 Tanks located off of UP in US. Cars were last used in Molases .<\/li>\n\n\n\n<li>10, 30, 117R Tanks located off of CN in Wisconsin. Cars were last used in Gasoline. Multiyear<\/li>\n\n\n\n<li>33, 30, 117R Tanks located off of UP in Gulf. Cars are clean Multiyear<\/li>\n\n\n\n<li>50, 30, 117R Tanks located off of UP in Gulf. Cars were last used in Diesel. Multiyear<\/li>\n\n\n\n<li>120, 29.8K, 117R\/117J Tanks located off of CPKC in MN. Cars were last used in Ethanol.<\/li>\n\n\n\n<li>50, 20K, DOT 111 Tanks located off of UP or BN in Wichita Falls, TX. Cars were last used in HCL.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Sales Offers<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>21, 50&#8242;, Plate C Boxcars located off of various class 1s in NM. End of Life<\/li>\n\n\n\n<li>3, 50&#8242;, Plate C Boxcars located off of various class 1s in multiple locations. End of Life<\/li>\n\n\n\n<li>27, 50&#8242;, Plate C Boxcars located off of various class 1s in PQ. End of Life<\/li>\n\n\n\n<li>100-300, 3250, Covered Hoppers located off of various class 1s in multiple locations. Sand Cars<\/li>\n\n\n\n<li>5, 2740, Mill Gondolas located off of various class 1s in NC. End of Life<\/li>\n\n\n\n<li>1, 2260, Mill Gondolas located off of various class 1s in AL. End of Life<\/li>\n\n\n\n<li>30, 2740, Mill Gondolas located off of various class 1s in multiple locations. End of Life<\/li>\n\n\n\n<li>21, 2740, Mill Gondolas located off of various class 1s in WA. End of Life<\/li>\n\n\n\n<li>15, 4750, Covered Hoppers located off of various class 1s in multiple locations. End of Life<\/li>\n\n\n\n<li>5, 4750, Covered Hoppers located off of various class 1s in multiple locations. End of Life<\/li>\n\n\n\n<li>50-100, 31.8K, CPC 1232 Tanks located off of UP or BN in TX. Requal Due in 2025<\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-center\"><strong>Call PFL today to discuss your needs and our availability and market reach. Whether you are looking to lease cars, lease out cars, buy cars, or sell cars call PFL today at 239-390-2885<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<style>\r\n    #map {\r\n        height: 600px;\r\n        width: 100%;\r\n    }\r\n    #filterBar {\r\n        text-align: center;\r\n        margin: 20px 0;\r\n    }\r\n    table {\r\n        width: 100%;\r\n        border-collapse: collapse;\r\n        margin-top: 10px;\r\n        font-family: sans-serif;\r\n    }\r\n    th {\r\n        background-color: #020f52;\r\n        color: white;\r\n        padding: 8px;\r\n        border: 1px solid #ccc;\r\n        text-align: left;\r\n    }\r\n    td {\r\n        padding: 8px;\r\n        border: 1px solid #ccc;\r\n    }\r\n    tbody tr:nth-child(odd) {\r\n        background-color: #f9f9f9;\r\n    }\r\n    tbody tr:nth-child(even) {\r\n        background-color: #e8e8e8;\r\n    }\r\n    tr:nth-of-type(odd){background-color:#d7f6f7}\r\n    td{border:1px solid #ccc;padding:8px}\r\n#map{height:350px;max-width:100%}#dataTable,table{border-collapse:collapse;width:100%;height:400px;display:block;overflow:hidden;overflow-y:auto}th{background-color:#020f52;color:#fff;text-align:center;position:sticky;top:0},tr{border:1px solid #000}<\/style>\r\n<h3 align=\"center\">Live Railcar Markets<\/h3>\r\n            <style>.custom-table{width:100%;border-collapse:collapse}.custom-table td,.custom-table th{border:1px solid #ccc;padding:8px}body{margin:0;padding:0}.tab-container{display:flex}.tab{cursor:pointer;padding:10px;border:1px solid #ccc}.tab.active{background-color:#f0f0f0}.table-container{max-height:400px;overflow-y:auto}<\/style>\r\n                <div class=\"tab-container\">\r\n        <div class=\"tab active\" onclick='showTable(\"leaseOfferTable\", this)'>Lease Offers<\/div>\r\n        <div class=\"tab\" onclick='showTable(\"leaseBidsTable\", this)'>Lease Bids<\/div>\r\n        <div class=\"tab\" onclick='showTable(\"salesOffersTable\", this)'>Sales Offers<\/div>\r\n        <div class=\"tab\" onclick='showTable(\"salesBidsTable\", this)'>Sales Bids<\/div>\r\n    <\/div>\r\n    <div class=\"table-container\">\r\n        <table id=\"leaseOfferTable\" class=\"custom-table\" style=\"display:table\">\r\n            <thead>\r\n                <tr><th>CAT<\/th><th>Type<\/th><th>Capacity<\/th><th>GRL<\/th><th>QTY<\/th><th>LOC<\/th><th>Class<\/th><th>Prev. Use<\/th><th>Offer<\/th><th>Note<\/th><\/tr>\r\n            <\/thead>\r\n            <tbody><\/tbody>\r\n        <\/table>\r\n    <\/div>\r\n    <div class=\"table-container\">\r\n        <table id=\"leaseBidsTable\" class=\"custom-table\" style=\"display:none\">\r\n            <thead>\r\n                <tr><th>CAT<\/th><th>Type<\/th><th>Size<\/th><th>GRL<\/th><th>QTY<\/th><th>LOC<\/th><th>Class1<\/th><th>Term<\/th><th>Commodity<\/th><th>Offer<\/th><th>Note<\/th><\/tr>\r\n            <\/thead>\r\n            <tbody><\/tbody>\r\n        <\/table>\r\n    <\/div>\r\n    <div class=\"table-container\">\r\n        <table id=\"salesOffersTable\" class=\"custom-table\" style=\"display:none\">\r\n            <thead>\r\n                <tr><th>CAT<\/th><th>Type<\/th><th>Capacity<\/th><th>GRL<\/th><th>QTY<\/th><th>LOC<\/th><th>Class<\/th><th>Prev. Use<\/th><th>Clean<\/th><th>Offer<\/th><th>Note<\/th><\/tr>\r\n            <\/thead>\r\n            <tbody><\/tbody>\r\n        <\/table>\r\n    <\/div>\r\n    <div class=\"table-container\">\r\n        <table id=\"salesBidsTable\" class=\"custom-table\" style=\"display:none\">\r\n            <thead>\r\n                <tr><th>CAT<\/th><th>Type<\/th><th>Capacity<\/th><th>GRL<\/th><th>QTY<\/th><th>LOC<\/th><th>Class1<\/th><th>Commodity<\/th><th>Offer<\/th><th>Note<\/th><\/tr>\r\n            <\/thead>\r\n            <tbody><\/tbody>\r\n        <\/table>\r\n    <\/div>\r\n\r\n    <script>\r\n    function showTable(tableId, tabElement) {\r\n        const tables = document.querySelectorAll(\".custom-table\");\r\n        tables.forEach(table => table.style.display = \"none\");\r\n        document.getElementById(tableId).style.display = \"table\";\r\n        const tabs = document.querySelectorAll(\".tab\");\r\n        tabs.forEach(tab => tab.classList.remove(\"active\"));\r\n        tabElement.classList.add(\"active\");\r\n    }\r\n\r\n    function fetchData(url, tableId) {\r\n    fetch(url)\r\n        .then(response => response.json())\r\n        .then(data => {\r\n            const table = document.getElementById(tableId).getElementsByTagName('tbody')[0];\r\n            data.forEach(item => {\r\n                const row = table.insertRow();\r\n                Object.values(item).forEach(value => {\r\n                    const cell = row.insertCell();\r\n                    \/\/ Check if value is empty or null and set it to an empty string or custom string like '\u2014'\r\n                    cell.innerHTML = value ? value : '\u2014';  \/\/ Replace blank values with '\u2014' or leave as blank\r\n                });\r\n            });\r\n        })\r\n        .catch(error => console.error('Error fetching data:', error));\r\n}\r\n\r\n\r\n    \/\/ Fetch data for each section\r\n    fetchData('https:\/\/manifest.pflpetroleum.com\/api\/lease_offer.php', 'leaseOfferTable');\r\n    fetchData('https:\/\/manifest.pflpetroleum.com\/api\/lease_bids.php', 'leaseBidsTable');\r\n    fetchData('https:\/\/manifest.pflpetroleum.com\/api\/sales_offer.php', 'salesOffersTable');\r\n    fetchData('https:\/\/manifest.pflpetroleum.com\/api\/sales_bids.php', 'salesBidsTable');\r\n    <\/script>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\">PFL will be at the Following Conferences<\/h4>\n\n\n\n<figure class=\"wp-block-image size-full\">\r\n\t<img decoding=\"async\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/03\/Stampede-2026.jpg\" alt=\"Stampede\" class=\"wp-image-11405\"\/>\r\n<\/figure>\r\n<font color=\"black\">\r\n\t<ul>\r\n\t\t<li>Where: Calgary<\/li>\r\n\t\t<li>Attending: David Cohen (954-729-4774), Curtis Chandler(239-405-3365), Cyndi Popov (403-402-5043)   <\/li>\r\n\t<\/ul>\r\n<\/font>\r\n\r\n<figure class=\"wp-block-image size-full\">\r\n\t<img decoding=\"async\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/03\/Mars-Lake-Geneva-2026.jpg\" alt=\"swars\" class=\"wp-image-11405\"\/>\r\n<\/figure>\r\n<font color=\"black\">\r\n\t<ul>\r\n\t\t<li>Where: Grand Geneva Resor<\/li>\r\n\t\t<li>Attending: Brian Baker (239.297.4519) <\/li>\r\n\t\t<li><a href=\"https:\/\/www.mwrailshippers.com\/event\/2026-summer-meeting\/\" target=\"_blank\" rel=\"noreferrer noopener\">Conference Website<\/a><\/li>\r\n\t<\/ul>\r\n<\/font>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cBeware of false knowledge; it is more dangerous than ignorance.\u201d George Bernard Shaw Jobs Update Stocks closed lower on Friday of last week, but higher week over week The DOW closed higher on Friday of last week, up 54.34 points (+0.13%) , closing out the week at 42,270.07, up 667 points week-over-week. The S&amp;P 500 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":318,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-17409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-railcar-report"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The PFL Railcar Market Report for June 1, 2025<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pflpetroleum.com\/reports\/pfl-railcar-report-6-2-2025\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"guida\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" 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