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November’s midterms will hinge in part on Americans’ attitudes toward the cost of living, and polls show the president is getting poor economic marks.

Changing customer dynamics drove the decision. Toronto-bound freight lanes were growing busier, and the company wanted to minimize empty miles.

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

The Iran conflict has caused major disruptions to global supply chains that experts warn could ripple down to domestic trucking.

The Trump administration announced a $20 billion reinsurance program aimed at reviving shipping in the Strait of Hormuz, where traffic has all but stopped amid the U.S. and Israeli attacks on Iran. 

With ships unable or unwilling to transit the Strait of Hormuz, producers cannot export, supertanker costs are skyrocketing and storage at many Persian Gulf refineries is filling up fast. 

President Donald Trump said the U.S. would provide insurance guarantees and naval escorts to ensure safe passage for oil tankers and other vessels through the Strait of Hormuz.

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.

Last week’s speculations about escalating tensions between Iran and the U.S. prompted a rush from charterers to secure vessels ahead of any potential supply disruption, shipbrokers said.

The global oil industry is working through the consequences of Washington’s move. For shipowners, that means higher rates on some routes as current and future oil flows are redirected.