The Daily Brief is not on the desk yet
Dated briefs will open here, with a free intro and a paid remainder. Nothing has been filed.

UP’s window of opportunity just started closing. With Democrats in control of Congress, prepare for The Circus to come to town.
Dated briefs will open here, with a free intro and a paid remainder. Nothing has been filed.
UP is swimming in a whole lot of cognitive dissonance with this merger.
The US Oil & Gas Industry has a tumultuous history. If you think a commodity so deeply entwined in geopolitics is going to sit idly on the side as this unfolds, think again.

POET supports the merger and highlights why shipper support has been so problematic and Dick Kloster gives UP yet another chance to make things right.

In all the talk about a transcontinental railroad and nationwide coverage, UP would do will to take a leaf out of Tip O’Neill’s book and remember that all rail service is local.

I was hopeful the post-PSR hangover was forcing folks to start thinking seriously about commercial strategy, but the UP-NS merger derailed that. Will we be back to the same place once it’s all done?
| Railroad | Velocity | Dwell | Cars online | Status |
|---|---|---|---|---|
| BNSF | 25.2 | 26.6 | 247,333 | Neutral |
| UP | 24.7 | 20.3 | 301,377 | Neutral |
| CSX | 24.8 | 23.5 | 183,004 | Neutral |
| NS | 19.8 | 30.3 | 170,867 | Neutral |
| CN | 23.7 | 16.8 | 37,938 | Up |
| CPKC | 21.7 | 20.0 | 51,867 | Down |
Carloads and intermodal are monthly AAR series via FRED, published about two to three months after the month. Each tile is dated to its own observation. Velocity, dwell, and cars online are weekly STB EP 724 filings via USDA, week ending October 30, 2026. Status is velocity versus the prior week: Up, Down, or Neutral when the move is under 1%. Diesel on the tape is the weekly EIA retail price via FRED.