The tankers boom, and the potential for it to seed the next downturn, was a constant talking point at the industry’s biennial Posidonia gathering in Athens, June 1-5.

While the Houthis’ statement doesn’t amount to a ban on commercial shipping in the Red Sea, maritime intelligence agency Vanguard Tech advised caution.

If shippers look to frontload imports, then carriers will look to push rates higher and higher, so the market may yet be far from its peak, warns the analyst.

Residents in Kuwait said they are increasingly concerned there will be more attacks.

The supply chain disruptions and the hit to inflation caused by the war have created a challenging outlook for the regional Fed.

The blockade is depriving Tehran of petroleum revenue and the market of millions of barrels of supply.

Chery’s brands, which include Jaecoo and Omoda, have proved popular with British buyers, taking customers from the likes of Nissan.

The DoJ has filed a notice that it intends to challenge the Court of International Trade’s original refund order.

The OECD also pointed to inflationary pressures are rising in both advanced and emerging market economies.

Section 301 tariffs are seen as more legally sound and flexible than other powers Trump has eyed, but also more time-consuming.