The Houthi blockade will reportedly target the Bab el-Mandeb strait, which serves as the route for roughly 5% of global gas and oil supplies.

The British government took control of the Scunthorpe steelworks in April 2025, after Jingye Group said it planned to close the site because it was not financially viable.

The U.S. restored a blockade against Iranian shipping on July 14, a step that all but halted Tehran’s crude exports when it was imposed previously.

The decision threatens to strain the relationship between London and Beijing, just as Andy Burnham is set to become the prime minister on July 20.

Kenya has been banking on the levy to restart work on the China-built and funded project that runs from Mombasa, but stalled in a scrubland west of Nairobi.

By shifting to these countries for sourcing, manufacturers can spread production across a wider range of markets and reduce their exposure to geopolitical and trade risks.

A bulge in demand was caused by shippers trying to get ahead of increasing bunker fuel prices, ironically causing a spike in freight rates.

The investment will go toward four new chip fabrication factories in Arizona, and will likely be included in a 900-acre campus the company purchased earlier in 2026.

Trump first granted the relief for some 659 products in March, then extended it a month later, in the face of pressure from oil and chemical industry officials.

Of particular concern is diesel, which Oxford Economics described as the fuel most exposed to the supply strains because of its central role in freight transportation.