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Tanker rates extended gains as tensions in the Middle East ratchet higher, with shipowners demanding bigger fees to call at ports in the Persian Gulf after the U.S. launched strikes on Iran.

U.S. tariff hikes on small packages from China triggered a slump in shipments last month, contributing to a huge drop in bilateral trade and roiling exporters like Shein and Temu.

The cost of hauling refined oil out of the Middle East surged on June 17 as shippers reacted to the conflict between Israel and Iran.

Electric aircraft maker Archer Aviation expects its defense-related sales to outstrip commercial air taxis in the short term.

Some oil tanker owners and managers have paused offering their vessels for Middle Eastern routes since June 13 as they assess the risks from Israel’s conflict with Iran.

The barrage of headlines has revived memories of the political upheavals and price spikes of the 1970s — and yet even when oil prices have jumped, it inevitably proved short-lived.

Israel’s airstrikes on Iran drove up freight rates and tanker stocks June 13 as traders and investors priced in the prospect of disruption to a large swath of the global oil-shipping fleet.

Marelli Holdings filed bankruptcy in the U.S., saying its latest debt-cutting effort was prompted by tariffs.

In a June 9 email to customers, a representative said the company is “working toward the goal of returning to full operational capacity by” June 15 or sooner and apologized for any disruption.

Marelli Holdings, the struggling auto parts supplier for Nissan and Stellantis, plans to seek Chapter 11 bankruptcy protection in the U.S. to slash its debt burden and restructure.