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The strikes sent fuel prices soaring and risked drawing Iran’s Arab neighbors directly into the conflict.

The acquisition enables Zenobe to immediately serve more than 100 electric trucks in California, with more projects underway.

The volume of goods trade is forecast to rise by 1.9%, markedly weaker than a 4.6% jump in 2025 that was partially attributed to AI.

Ongoing tensions in the Middle East are amplifying volatility in global supply chains, Cosco said.

The attacks added to fears the energy crisis triggered by the closure of the Strait of Hormuz may cause lasting damage to oil and gas production.

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.

Tehran warned of imminent retaliation against refining, petrochemical and natural gas assets in the region after its own giant South Pars gas field was struck.

Those fossil fuel savings are expected to increase every year for the rest of the decade as more drivers turn to battery-powered vehicles.

The Labor Department reported March 18 that its producer price index rose 0.7% from January, and 3.4% from February 2025.