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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 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.

In a desperate bid to transport oil from the U.S. Gulf Coast to Asia, shippers have taken the unusual step of booking smaller vessels as costs soar for the massive tankers typically used. 

In 2025, drivers prioritized reliable execution and predictable outcomes over short-term incentives, especially regarding their equipment, miles, pay and communication.

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.

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.

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

“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.”

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.