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The IEA said the release will largely consist of crude oil, though contributions from Europe will primarily take the form of refined petroleum product.

Tehran warned of imminent retaliation against refining, petrochemical and natural gas assets in the region after its own giant South Pars gas field was struck.

The moves include issuing more individual licenses allowing foreign companies to work in Venezuela without violating U.S. sanctions.

Iran’s attacks on vessels and the threat of mines have cut traffic in the vital waterway to a trickle, effectively putting Tehran in charge of the flow.

After years of being antagonized by President Trump, U.S. allies in Europe and Asia are in no hurry to heed his demand that they send ships into a war he started and has claimed to have won.

Brent crude traded near $100 a barrel following one of the most volatile weeks ever for the oil market, with investors bracing for more upheaval as Iran pledged to keep the Strait of Hormuz shut.

Prices of fuels like diesel and jet fuel are surging as refineries in the region reduce production or shut completely, while fuel makers elsewhere balk at high crude prices.

Starboard Value has amassed a stake of about $350 million in CarMax and sees an opportunity to accelerate the used car retailer’s turnaround under incoming CEO Keith Barr.

UniFirst shareholders will receive $155 in cash and 0.7720 shares of Cintas stock for each UniFirst share they own, according to a statement on March 11.

President Donald Trump is mulling a menu of possible options to combat surging oil and gasoline prices in the wake of the Iran war, according to people familiar with the matter.