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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.

Surging prices for plastic caused by disruptions from the Iran war have pushed one U.S. toymaker to buy up more inventory than needed.

Rio Tinto and Century Aluminum raised the premium on aluminum blocks known as billets by about 3 cents a pound, or $110 a ton, above prewar levels.

Exxon, which also said first-quarter earnings from its energy-products division would be lower, is among the first of the supermajors to disclose the war’s impact.

While shipowners and insurers lined up to welcome the ceasefire, they also warned that more details will be needed to determine if safe transit is possible.

A unit of Hong Kong’s CK Hutchison said that Maersk had undermined a contract over operations of ports at either end of the Panama Canal.

The price for a barrel of benchmark U.S. crude oil plunged 15.6% to $95.32. Brent crude, the international standard, tumbled 13% to $95.12 per barrel

Under the proposal, motor carrier safety operations and programs would be funded at $398 million, while motor carrier safety grants would total $548 million.

Two companion bills intended to deter cargo theft by imposing higher criminal penalties are moving through the Michigan Legislature.