“Oil seems to be drifting a bit,” Tom McNulty, Houston-based managing director with Great American Group, told Rigzone.

The first quarter of 2019 displayed trends that indicate another positive year for the transportation industry. The transportation markets continue to show high demand, while the construction markets are anticipated to experience increased activity throughout the year. With oil prices rising faster than analysts had initially anticipated, activity within the oilfield sector, as well as with related support equipment, remains strong. In addition, consumer confidence continues to remain strong nationally, which has fed into the continued growth of freight transportation figures.

Tom McNulty, Houston-based managing director with Great American Group, remarked that the reported attack on two Saudi oil tankers and the U.S.-China trade issue appear to have had opposing effects on price movements.