U.S. rail traffic up 2 percent in week 48; crude oil down 52 percent in Q3

Total U.S. rail traffic rose 2 percent to 553,130 carloads and intermodal units for the week ending Dec. 3 compared with traffic totals a year ago, the Association of American Railroads (AAR) reported Wednesday.

U.S. carloads for the week increased 0.9 percent to 274,329 units, while weekly intermodal volume climbed 3.2 percent to 278,801 containers and trailers compared with the same week in 2015.

Canadian railroads reported 79,650 carloads for the week, up 4.9 percent, and 61,743 intermodal units, up 5.6 percent compared with the same week in 2015. Mexican railroads reported 16,082 carloads for the week, down 1.6 percent compared with the same week last year, and 11,270 intermodal units, up 2 percent.

North American rail volume for the first 48 weeks of 2016 was 32,227,999 carloads and intermodal units, down 5.3 percent compared with 2015.

Also this week, AAR reported U.S. Class Is originated 48,978 carloads of crude oil in third-quarter 2016, a 51.6 percent decline compared with crude oil originated in third-quarter 2015.

For the first nine months of 2016, U.S. Class Is transported 168,693 carloads of crude oil, down 48.1 percent compared with the first nine months of 2015.

In 2015, crude oil accounted for 1.4 percent of total U.S. carloads, according to an AAR spokesman.