Iran News Updates

Ongoing tensions in the Middle East are amplifying volatility in global supply chains, Cosco said.

The attacks added to fears the energy crisis triggered by the closure of the Strait of Hormuz may cause lasting damage to oil and gas production.

Imports of Venezuelan heavy crude doubled in the week leading up to March 13, reaching the highest since late 2024, according to U.S. government data.

The Federal Open Market Committee voted 11-1 to hold the benchmark federal funds rate in a range of 3.5% to 3.75%. Governor Stephen Miran dissented.

Tehran warned of imminent retaliation against refining, petrochemical and natural gas assets in the region after its own giant South Pars gas field was struck.

Those fossil fuel savings are expected to increase every year for the rest of the decade as more drivers turn to battery-powered vehicles.

The Labor Department reported March 18 that its producer price index rose 0.7% from January, and 3.4% from February 2025. 

The Iran war has rattled the global flow of oil, with steeper fuel costs already straining households worldwide.

The president on March 18 authorized foreign-flagged vessels to transport a range of commodities between U.S. ports for the next 60 days.

The shipping disruption has largely stopped the export of nitrogen fertilizers made in the Persian Gulf and limited access to fertilizer ingredients.