Houthi rebels reportedly hit a cargo ship with three ballistic missiles, in the first deadly attacks against commercial vessels in the region since the start of the Iran war.

As the conflict extends into a sixth month, consumers around the world are once again facing the prospect of higher fuel prices and inflation.

Unlike the previous extensions, the Pentagon will consult with the U.S. Department of Transportation Maritime Administration to decide which voyages are exempt from the Act.

The latest delays threaten to add a fresh complication to global trade at a time when oil flows are already being significantly disrupted by the war in Iran.

Both U.S. and Iranian officials have been signaling in recent days that some kind of accord on Hormuz is close.

The investment emphasizes the importance of the Interoceanic Corridor of the Isthmus of Tehuantepec. 

The stop-start nature of negotiations over reopening the Strait of Hormuz in recent months means analysts and traders expect shuttling to continue in some form.

The prospect of Iran imposing transit fees in Hormuz has focused attention on the fragility of global supply chains.

The move would give the shipping and insurance industries some much-needed third-party assurance that the strait is safe after more than five months of military conflict.

Negotiations between the two countries have not involved the U.S., as the ongoing standoff between Iran and the Trump administration has intensified.