Producers would have lost money in 2025, if it wasn’t for federal subsidies, including the $12 billion in bridge loans for farmers hurt by Donald Trump’s tariffs.

The escalating war has effectively dashed hopes for a full Red Sea reopening this year, though forecasting remains difficult.

With the Strait of Hormuz all but closed, Saudi Arabia has been rerouting oil through a 1,200 kilometer pipeline to the western port of Yanbu.

Some carriers are attempting to introduce “war surcharges” on lanes with no direct exposure.

Average U.S. diesel prices sat at $5.04 per gallon as of March 17, marking a 34% increase from the first day of strikes by the U.S. and Israel against Iran.

While the rates are high, it’s also a sign that cover remains available for the handful of vessels looking to cross the vital waterway.

"We want the world to be well supplied," Treasury Secretary Scott Bessent said in an interview with CNBC.

The Islamic Republic hasn’t asked for talks or a ceasefire after Trump told NBC on March 14 that he’s willing to make a deal but wants better terms.

The attack on the Greek ship may be linked to “the pressure that countries in the region are applying,” Greek shipping minister Vasilis Kikilias said.

DP World saw its revenue increase by 22% year-over-year to $24.4 billion, and its earnings before interests, taxes, depreciation and amortization rise by 18% to $6.4 billion.