Iran News Updates

California is highly exposed to the disruption rippling across commodity markets because it imports about 20% of its refined fuels from Asia.

The average cost for a gallon of diesel in California rose to the highest level ever as the war in Iran disrupts global energy shipments. 

Iran said foreign ships are allowed to cross the Strait of Hormuz as long as they aren’t supporting acts of aggression against the country and follow certain rules.

The announcement comes as global flows of fertilizers have been disrupted by the Iran war.

More than 40 energy assets across nine countries in the Middle East have been “severely or very severely” damaged by the war, IEA says.

U.S. markets ticked slightly lower and oil prices rose early March 24 as the war in the Middle East continued.

DoorDash is offering extra compensation to U.S. and Canadian drivers as part of a temporary program to help offset rising gas prices.

The U.S. plans to contribute $250 million to an investment consortium that would help fund projects aimed at strengthening supply chains for energy and minerals.

Relief is ripping through financial markets after President Donald Trump said the U.S. has talked with Iran about a possible end to their war.

Fatih Birol said at Australia’s National Press Club that the war has had a worse impact on oil than the two oil shocks of the 1970s combined.