First, the bad news:

• OPEC+ agreed to extend all production curbs into next year and adjust supply down  (if needed) —Crude oil prices will stay in the current range 
• Truck volume, measured by posts to DAT’s van spot market, is down ~6% from April to May and ~23% from May 2023.  

When volume trends up, expect a significant spike in rates as a reduced carrier base (many are going out of business),  weakened by low or no profitability, tries to (but fails) to scale up.

The good news:  

• Diesel prices are still falling (See graph from the Wall Street Journal)