Oil prices surged to more than $119 a barrel on Monday, hitting levels not seen since mid-2022, as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding U.S.-Israeli war with Iran.

France is deploying about a dozen naval vessels, including its aircraft carrier strike group, to the Mediterranean, Red Sea and potentially the Strait of Hormuz as part of defensive support to allies threatened by the conflict in the Middle East.

The U.S. Navy hospital ship USNS Mercy is currently sailing north along the West Coast off Mexico after transiting the Panama Canal last week, according to the latest Automatic Identification System (AIS) data. Recent...

U.S. containerized imports are expected to remain below last year’s levels through the first half of 2026 as tariff uncertainty continues to weigh on trade flows, according to the latest Global Port Tracker report...

Commercial shipping through the Strait of Hormuz has fallen to near-zero levels as the maritime security crisis gripping the Middle East continues, even as attacks on vessels temporarily paused over...

President Donald Trump urged commercial vessels to continue sailing through the Strait of Hormuz despite escalating attacks on merchant shipping, saying shipowners should not be deterred by security risks in the world’s most important...

Oil prices surged to more than $119 a barrel on Monday, hitting levels not seen since mid-2022, as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding U.S.-Israeli war with Iran.

Just nine months before a full European Union ban on Russian liquefied natural gas (LNG) is scheduled to take effect, EU buyers purchased every cargo from Russia’s Yamal LNG project in February, highlighting a stark disconnect between policy intentions and market realities.

By Katharine Jackson and Curtis Williams WASHINGTON, March 8 (Reuters) – Trump administration officials on Sunday defended a decision to temporarily lift some sanctions on Russianoil and predicted that a sharp increase in...

By Arsalan Shahla, Josh Wingrove and Omar Tamo Mar 8, 2026(Bloomberg) —Iran picked a new supreme leader and kept up attacks on the ninth day of the war in the Middle...

TOKYO, March 8 (Reuters) – A senior Japanese parliament member said on Sunday that the government instructed a national oil reserve storage site to prepare for a possible release of crude, as...

By Daniel Flatley Mar 7, 2026(Bloomberg) –Treasury Secretary Scott Bessent said the US may lift sanctions on further Russian oil supply after a move Thursday to give Indian refiners the green...