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The strait saw 21 ships transit over the weekend as more governments negotiate to extract vessels, strengthening Tehran’s grip on the waterway.

Diesel prices are climbing, ocean vessels are rerouting and U.S. trucking rates are responding as war in Iran ripples through energy and freight markets.

The announcement marks the first significant details revealed publicly about the reinsurance program since the project’s formation almost a month ago.

Benchmark U.S. crude rose 11.4% to $111.54 a barrel. The price of Brent crude, the international standard, jumped 7.8% to $109.03 per barrel.

Most economists say the impact of the war and higher energy prices were probably not fully reflected in the March jobs numbers.

Amazon’s fuel and logistics-related surcharge will apply to U.S. and Canadian sellers using its Fulfillment by Amazon option, effective April 17.

A senior official cast the changes as necessary to simplify the policy and provide more fairness to businesses grappling with President Trump’s tariffs.

The allegations add another point of tension between the U.S. and China ahead of President Donald Trump’s scheduled visit to Beijing in May.

The average on-highway price of diesel in California was $7.219 a gallon on March 30, a 44.7% increase compared with $4.99 a gallon on March 2.

Indiana canceled nearly 1,790 non-domiciled commercial driver licenses April 1 when a new law took effect aimed at undocumented truckers and their employers.