Freight carload volume on U.S. railroads rose 1.6% in the fourth week of May ending June 1 from the year-ago level, and intermodal rose 3.7%, according to the Association of American Railroads. Shipments of petroleum and petroleum products for May were up 41.8% from a year earlier. North American chemical shipments also rose 8.6%. "Pockets of rail traffic growth, such as autos, nonmetallic minerals, and commodities related to crude oil extraction are being countered by continued weakness in steel-related commodities, paper, and grain, among others," said John Gray, AAR senior vice president of policy and economics.
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