Ukraine said it damaged Russia’s Primorsk port on the Baltic Sea, a key oil export hub, in a drone barrage that also targeted several vessels. A Karakurt-class missile ship, patrol boat and tanker from Russia’s shadow fleet were hit in the attacks, Ukrainian...

Air Canada suspended its full-year financial guidance because of the surge in jet fuel prices caused by the war in Iran. “Since late February, the situation in the Middle East and the sharp increase in global jet fuel prices have created a significant external shock...

Seaport Therapeutics Inc., shares jumped 10% in the firm’s trading debut, after the company raised nearly $255 million in an upsized initial public offering. The Boston-based company’s shares closed at $19.84 each, above the IPO price of $18 apiece. The biotech firm...

America’s biggest oil companies are warning that global crude markets may be nearing an inflection point of higher prices the longer the Strait of Hormuz stays closed. Every day the waterway remains shut, the world is using up commercial stockpiles, strategic reserves...

Aluminum gained, with traders seeing little prospect of an imminent opening of the Strait of Hormuz that would ease availability of the metal. The lightweight metal rose as much as 1.7% to $3,534 a ton on the London Metal Exchange, paring a weekly loss. Iran delivered...

The Fed is about to get a new Chairman (economist Kevin Warsh), and the markets are naturally wondering if this means big changes in monetary policy. My take is that it obviously means lower interest rates and generally easier money, since that’s what an incoming Fed...

The US economy is poised to become more reliant on spending by the government and businesses for growth in 2026 as inflation driven by the Iran war hits consumers. A report Thursday is expected to show that dynamic was already developing in the first three months of...

Oil surged to the highest since June 2022, with no end in sight to the US-Iran conflict or choked-off energy flows through the Strait of Hormuz, heightening concerns over a rapidly shrinking global supply cushion. Brent, the global benchmark, rose more than 7% to...

The extended closure of the Strait of Hormuz and extreme weather have jolted farm commodities prices to a two-year high, as fertilizer headaches and the prospect of smaller harvests drive food inflation risks. The Bloomberg Agriculture Spot Index, which tracks 10 of...

For much of the past few years, US Treasuries have failed to serve their traditional role as a sure-fire refuge from global market meltdowns. During the last three big ones — caused by the post-pandemic inflation shock, President Donald Trump’s tariff rollout and,...

Manifest OS, a startup selling AI software to lawyers, has sealed a $60 million Series A funding round valuing it at $750 million. Investors in the round include Menlo Ventures, Kleiner Perkins, First Round Capital and Quiet Capital, according to a statement reviewed...

Investors are misjudging how much Strait of Hormuz closures could impact global flows of petrochemicals, said Enterprise Products Partners LP Chief Executive Officer Jim Teague, adding to a chorus of industry voices warning about lingering disruptions from the Iran...

Sherwin-Williams Co. warned rising input costs could weigh on results later this year, after currency tailwinds helped it post stronger-than-expected sales growth in the first quarter. While the paint maker maintained its full-year adjusted profit guidance, it now...