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A handful of oil tankers were racing toward the Strait of Hormuz on April 17 after Iran declared it open, even as industry groups urged caution.

U.S. oil cargoes transiting the Panama Canal are close to a four-year high as Asian refiners rush to import American crude in lieu of Mideast supplies.

Government-owned Canada Post will end home delivery for about 4 million addresses over the next five years.

U.S. President Donald Trump and Iran’s foreign minister said April 17 that the Strait of Hormuz is now fully open to commercial vessels.

Requests to store distillate fuel in tanks with a railroad connection soared to 250,000 barrels in March, up from 30,000 barrels in February and none in January.

Brent crude, the international standard, dropped 10.5% to $88.96 per barrel. Benchmark U.S. oil tumbled 10.8% to $81.38 per barrel.

Ships are facing 3½-day delays to enter the Panama Canal as the Iran war sparks a traffic surge, prompting a vessel to pay an extra $4 million to jump the line.

The action follows a federal audit of New York’s commercial driver licensing program that identified widespread violations of federal requirements.

Gasoline prices have climbed during the Iran conflict, drawing political scrutiny in a midterm election year and intensifying calls for clarity on policy.

Oil prices climbed, showing that caution still remains in financial markets. The price for a barrel of Brent crude oil rose 5.1% to $99.74.