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More than 80 energy facilities have been damaged during the hostilities, and a recovery could take as long as two years, Fatih Birol warns.

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.

The Swift Beef plant in Greeley, Colo., will immediately return to normal operations after weeks of uncertainty, JBS said in a statement.

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

The challenges risk affecting a wider swath of the industry as the Trump administration weighs how to create a more formal approach for chip export control.

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

Crude shipments for April are already inching toward about 4.9 million barrels a day based on current loadings, up from 3.97 million barrels a day in March.

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

The proposed 4.8% price hike will be reviewed by the Postal Regulatory Commission, an oversight body, and if approved, will go into effect July 12.