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Imports of Venezuelan heavy crude doubled in the week leading up to March 13, reaching the highest since late 2024, according to U.S. government data.

The meeting will take place at the American Petroleum Institute and involve members of the U.S. oil and gas trade group’s board, according to sources.

The Federal Open Market Committee voted 11-1 to hold the benchmark federal funds rate in a range of 3.5% to 3.75%. Governor Stephen Miran dissented.

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

“We’re resetting the meeting,” Trump said March 17 at the White House during a sit-down with the Irish prime minister. “[China was] fine with it.” 

The spike in oil and gas prices presents already-divided Federal Reserve officials with a worst-case scenario as they conclude a key meeting March 18.

ATA President Chris Spear outlined for TMC attendees the breakneck pace at which challenges are confronting the carriers that comprise ATA's membership base.

While rates are high, they signal that coverage is available for the few vessels still moving through the waterway. The question is whether shipowners are willing to make the transit.

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.

The administration has rushed to construct a new tariff regime after the Supreme Court ruled that the president violated the Constitution by imposing many of his previous duties using an emergency law.