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Soybean farmers are struggling with the high cost of fuel, equipment and fertilizer — compounded by the Iran war — and also tariffs.

Output collapsed by 7.88 million barrels a day to 20.79 million a day in March, driven by losses in Iraq, Saudi Arabia, the United Arab Emirates and Kuwait.

Brent crude, the international standard, rose back to $100.49 per barrel and is well above its roughly $70 price from before the war.

Analysts say resumption of prewar levels by July “might introduce $15- to $20-a-barrel upside risk to prices.” 

Brent crude oil, the international standard, fell 0.5% to $95.47 on April 10.

Every twist in the Iran war shows up almost instantly in a $65 million exchange-traded fund that most investors have never heard of.

Just seven ships, all with a prior link to Iran, were observed making the voyage out of the Persian Gulf. Normal transits in both directions are more like 135 a day.

Benchmark U.S. crude was 6.8% higher on April 9 at $100.79 a barrel. Brent crude, the international standard, rose 3.7% to $98.24 per barrel.

Shipowners are placing “huge volume requests” for insurance cover as they look to transit the Strait of Hormuz following the U.S.-Iran ceasefire deal.

Hyundai is rerouting ships around Africa to avoid the Strait of Hormuz, slowing the automaker’s global supply lines.