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So far in March, barely six vessels per day on average have traversed the strait. That compares with about 135 a day in normal times.

Unlike earlier this week when Trump announced that talks with Iran were progressing, investors appear to be skeptical of the president's latest claim.

Iran is trying to set up a tolling system, seeking payments of as much as $2 million per voyage through the waterway.

Consumers expect prices to rise at an annual rate of 3.8% over the next year from 3.4% a month earlier, the biggest increase since April 2025.

The Bloomberg survey mirrors new estimates by the OECD, which sees higher inflation in the U.S. and other major economies.

Brent crude is on pace for a record monthly gain in March, as the war between the U.S., Israel and Iran has rocked the oil-rich Middle East.

Four of the six largest swings ever seen in international oil benchmark Brent futures have come since the war started at the end of February.

Doubt is taking over again on Wall Street from hope about a possible end to the war with Iran, and stocks are back to sinking as oil prices rise.

Hope for a possible end to the war with Iran is pushing stocks higher again on Wall Street  while oil prices ease.

Dozens of refineries, oil fields, gas plants, ports and other energy infrastructure have been damaged by missile and drone strikes.