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U.S. oil posted the biggest weekly gain on record as the war in Iran upends critical energy market flows, with shipping through the Strait of Hormuz at a near-total halt.

The news comes as the EV market is at a standstill amid the Trump administration steering federal support away from electrification in favor of a broader agenda supporting the oil and gas industries.

Panama Ports cites the Central American nation's “illegal state takeover” of the Balboa and Cristobal ports, and challenged a Feb. 23 executive decree it said authorized the seizure of its assets.

The move follows a March 4 order by a judge on the federal trade court in New York to stop calculating President Donald Trump’s emergency tariffs on importers’ customs paperwork.

The escalating war has choked off oil and gas supplies to key customers in Asia and Europe and sent energy prices soaring.

Canal revenue increased 8%-10% in the first five months of its fiscal year 2026, which started in October, compared to the same period a year earlier. The canal saw a record $5.7 billion in FY 2025. 

Congressional Republicans renewed calls for stricter English‑language requirements for CDL holders, citing safety concerns highlighted in President Donald Trump's State of the Union.

“You can’t sugarcoat this report,” said Brian Jacobsen of Annex Wealth Management. “A negative payrolls number combined with a big jump in oil prices will have traders worrying about stagflation risks.”

The value of retail purchases decreased 0.2% after no change in December, Commerce Department data showed March 6. Excluding car dealers, sales were little changed.

The job market had been expected to rebound this year from a lackluster 2025 when the economy, buffeted by President Donald Trump's erratic tariff policies, generated just 15,000 jobs a month.