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Runaway freight is one of the most tangible market responses to a conflict that began on Feb. 28 and culminated with the vital Strait of Hormuz choke point all-but closing to tanker traffic.

President Trump will sign a directive in the coming days raising his global tariff to 15% “where appropriate” and is seeking “continuity” with nations that struck trade deals, an official said.

The U.S. oil giant signed preliminary agreements to negotiate terms and exchange confidential data with state-owned Basra Oil over the West Qurna 2 field, Chevron said in a statement.

Among the major questions left unanswered for US importers are the prospects and the process for recouping the money the government collected over the past year under IEEPA.

Sinokor’s aggressive buying has spooked the market, traders say, in turn dramatically driving up the cost of freight as nervous charterers rush to book space in case prices rise further in the future due to the concentrated ownership.

UniFirst is engaging with Cintas after its larger rival resubmitted a $275-a-share takeover offer in December, Bloomberg reports. Cintas has been pursuing UniFirst for years.

A Supreme Court decision on the legality of the levies is pending. Chinese company BYD's American units said they brought their suit as they’re not assured of a refund.

The partial U.S. government shutdown ended late in the afternoon of Feb. 3 after President Donald Trump signed into law a funding deal he negotiated with Senate Democrats.

The European Union will pitch the U.S. on a critical minerals partnership to curb China’s influence, looking to shape the Trump administration’s push to strike global agreements this week.

While frigid temperatures are still gripping the southern U.S., natural gas futures plummeted Feb. 2 as weather forecasts for mid-February shifted significantly warmer.