Rail Pulse is Steel Wheel Logistics' weekly read on what actually moved on the U.S. rail network last week. Every figure is sourced from public AAR, STB, EIA, and USDA filings and linked at the bottom. Every word of analysis is anchored to those numbers — no estimates, no extrapolation.
The Number
The week ending July 4, 2026 saw total rail traffic of 482121 units, up 8.7 percent year-over-year, with intermodal units climbing 12.9 percent to 269430 and carloads rising 3.7 percent to 212691.
Network Health
BNSF is green on both speed (24.5 mph) and dwell (22.9 hours). UP is green on speed (24.4 mph) and dwell (19.6 hours). CSX is yellow on speed (22.56 mph) and yellow on dwell (23.11 hours). NS is red on speed (19.6 mph) and yellow on dwell (23.5 hours). CN is green on dwell (18.17 hours) with speed data unavailable. CPKC is yellow on speed (20.6 mph) and green on dwell (21.74 hours).
Color codes: green = speed ≥24 mph or dwell <22 hrs; yellow = speed 21–24 mph or dwell 22–26 hrs; red = speed <21 mph or dwell >26 hrs. Source: STB EP724 weekly Class I performance filings.
Fuel Watch
Heating oil futures (HDF) climbed 4.76 percent week-over-week to 4.796 per gallon as of July 13, reversing a six-week downtrend, though the current month average of 4.687 remains 6.7 percent below June's 5.0238. For August 1 implementation, mileage fuel surcharges are holding steady across most carriers: BNSF at 51 cents per mile, UP at 59, NS at 64, CSXT at 32, CN at 65, and CPKC at 69 cents per mile.
Want to see how a fuel-surcharge change hits a specific lane? Run a free rail rate quote — FSC is broken out per leg.
Commodity Spotlight
Grain led the week ending July 4 with a 13.0 percent year-over-year increase to 21622 carloads. Farm Products excluding grain and food also advanced sharply at 12.7 percent. Coal fell 7.9 percent to 48841 carloads, marking the largest negative move.
Lane Watch
Lane demo data unavailable due to timeout. Run an indicative estimate at steelwheellogistics.com/tools/rail-rate-quote.
Pricing a specific carload move? Run an indicative estimate through the live rail rate calculator. Already have cars on the ground? The demurrage calculator uses current Class I rate structures, and the transload directory lists rail-served terminals nationwide.
Sources
- AAR Weekly Rail Traffic Report
- STB Class I Weekly Performance Data (49 CFR 1250)
- EIA U.S. Weekly Retail On-Highway Diesel Average
- USDA AMS Grain Transportation Report
Rail Pulse is published every Tuesday morning, after the AAR Weekly Rail Traffic Report releases. We pull, validate, and compose — no figures are introduced beyond what these sources publish.