World Business NewsTrucking demand surges, smaller ports face congestion and delays; Reroutes and workarounds adding to costs; Ports outside of Strait of Hormuz under attack
World Business NewsEuro falls 0.12% in Asian trading, sterling down 0.1%, dollar index steady at 99.913; Australian dollar slips 0.16%, yen weakens over 2% against USD
World Business NewsBrent futures jump $2.48, or 2.5%, to $102.69; US WTI crude gains $2.42, or 2.6%, to $95.92 a barrel; UAE crude output drops by half with Strait of Hormuz mostly shut
World Business NewsReserve Bank of Australia expected to hike rates at 0330 GMT; Fed, ECB, BOJ, BOE all due to weigh in on economic outlook this week; Brent crude above $100 as Trump's call for Hormuz escorts rebuffed
HeadlinesPNSC-operated vessel carrying Abu Dhabi crude heads for Karachi as select ships appear to secure safe passage through strategic chokepoint
World Business NewsDrugmakers reroute cargo as Dubai, Doha hubs are hit; Cancer drugs face higher supply risk
World Business NewsExxon, Chevron and ConocoPhillips CEOs warn US officials that disruption to energy flows through Strait of Hormuz could continue driving volatility in global oil markets
World Business NewsSome flights diverted to Dubai's Maktoum airport; Third incident at Dubai airport since Iranian attacks began
World Business NewsTalks have focused on tariffs, rare earths, high-tech export controls, and agriculture
World Business NewsTrump calls on China, France, Japan, South Korea and Britain to support protection of Strait, warns NATO faces “very bad” future if allies fail to assist US
World Business NewsOil volatile as Hormuz shipping plans lack detail; Nikkei slips, Wall St eyes Nvidia conference on AI; Dollar off highs, still near major chart levels
World Business NewsU.S. in talks with other countries to protect Strait of Hormuz, Trump says; Brent, WTI have surged more than 40% this month