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G-7 finance ministers held a virtual meeting to discuss the Iran war, its impact for regional stability, global economic conditions and financial markets, and the importance of secure trading routes.

As part of this transaction, Shell subsidiary Pennzoil Quaker State has entered into a long-term lubricants supply agreement with Monomoy.

Disruptions to crude oil supplies wrought by the Middle East conflict are boosting the appeal of crop-based biofuels, lifting demand for vegetable oils and corn.

Plug Power is planning to offer hydrogen electricity in a potential special auction by the biggest U.S. power grid in the scramble to feed the artificial intelligence boom. 

The war is showing no signs of abating after U.S. and Israeli strikes on Iran more than a week ago, and the fallout is stoking fears of an inflation crisis. The halt to shipping through Hormuz has driven up fuel prices.

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. 

U.S. oil posted the biggest weekly gain on record as the war in Iran upends critical energy market flows, with shipping through the Strait of Hormuz at a near-total halt.

In a desperate bid to transport oil from the U.S. Gulf Coast to Asia, shippers have taken the unusual step of booking smaller vessels as costs soar for the massive tankers typically used. 

The news comes as the EV market is at a standstill amid the Trump administration steering federal support away from electrification in favor of a broader agenda supporting the oil and gas industries.

The escalating war has choked off oil and gas supplies to key customers in Asia and Europe and sent energy prices soaring.