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Logistics How US quietly kept Gulf crude moving despite Iran's Hormuz blockade
The US military has been overseeing secretive ship-to-ship oil transfers to keep Gulf crude exports moving despite Iran's blockade of the Strait of Hormuz. The operation, which began in early May, involves smaller tankers carrying oil through the strait and transferring it to larger vessels at hubs off Fujairah and Sohar. An estimated 90 million barrels of crude and petroleum products have moved through this offshore network since early May.
Commodities Middle East crude slips into discounts as US-Iran deal lifts global supply outlook
Middle East crude benchmarks flipped into contango this week after the US and Iran agreed a framework deal to reopen the Strait of Hormuz, boosting supply expectations. Dubai's premium turned to a 46-cent discount, the first since January, while Oman and Murban also flipped to discounts amid weak Asian refining demand and emerging arbitrage flows to Europe and the US.
Trade Trump Says US Can ‘Soon’ Reimpose Russian Oil Sanctions After Strait of Hormuz Reopens
US President Donald Trump announced the US will soon reimpose sanctions on Russian oil shipments after crude flows resumed through the Strait of Hormuz following a deal with Iran. The remarks came at the G7 summit in France, where leaders discussed increasing pressure on Moscow over the Ukraine war.
Trade U.S. Military Uses Iranian Smuggling Tactic for Gulf Oil Transfers Amid Strait Closure
The U.S. military has conducted scores of ship-to-ship oil transfers off Fujairah and Sohar since early May, employing a shuttling technique previously used by Iran to evade sanctions. The operation, involving at least 92 ships, aims to maintain Gulf energy exports after Iran effectively closed the Strait of Hormuz, causing the biggest global energy supply disruption in history. An Apache helicopter involved in the mission was shot down by Iran on June 9.
Commodities Led by US, exits from gold ETFs continue for the 5th week in a row
Gold ETF outflows continued for the fifth consecutive week, led by US investors, according to the World Gold Council. Outflows reached $4.27 billion against $850.4 million in inflows, the highest weekly net exit this year. Year-to-date investments dropped to $11.87 billion.
Commodities US Strategic Petroleum Reserve Falls to Lowest Level Since 1983 Amid Iran War
The US Strategic Petroleum Reserve fell to 340.3 million barrels as of June 12, 2026, its lowest since July 1983, as the Trump administration continues emergency releases to mitigate economic damage from the war with Iran. The reserve has dropped 75 million barrels (18%) since the conflict began in late February. Officials warn the stockpile must remain at least 20% full to be operational.
Trade USTR Greer and Piyush Goyal to Hold Trade Pact Talks Next Week in Delhi
United States Trade Representative (USTR) Jamieson Greer will meet India's Commerce Minister Piyush Goyal next week for bilateral trade pact negotiations. The talks aim to finalize an interim framework deal and discuss the larger bilateral trade agreement (BTA), while addressing US Section 301 tariff probes on India.
Trade Will India-US trade deal be announced at G7? USTR signals more talks, says pact not imminent
According to a Times of India report, the U.S. Trade Representative has signaled further talks with India, indicating that a bilateral trade deal will not be announced at the upcoming G7 summit. The report did not include specific trade figures, tariff concessions, or a timeline for a final agreement.
Commodities U.S.-Iran Peace Deal Reopens Strait of Hormuz, Unleashing Global Oil Supply
The United States and Iran have reached a peace deal to end the war and lift restrictions on the Strait of Hormuz, through which 20% of the world's crude oil flows. The agreement suspends sanctions on Iranian oil, releases $24 billion in frozen assets, and provides a 60-day period to negotiate a permanent settlement. The U.S. will lift its blockade within 30 days, but analysts caution it will take two to three months for shipping to fully normalize due to mines and supply chain bottlenecks.
Trade US-Iran Framework Deal Aims to Reopen Strait of Hormuz but Traffic Remains Low
The US and Iran have agreed a framework deal to end hostilities and reopen the Strait of Hormuz. However, ship-tracking data shows traffic remains low, with only two vessels exiting since Sunday. Experts warn of cautious shipping recovery and lingering insurance and production challenges.
Business At 4.2%, US Inflation Posts Biggest Gain in Three Years, Fed Rate Path Affected
The US consumer price index increased 4.2% in the 12 months through May, the largest gain since April 2023, according to the Bureau of Labour Statistics. Surging energy prices amid the West Asia conflict and renewed US-Iran tensions contributed to the rise, giving the Federal Reserve cover to keep interest rates unchanged into 2027. Wall Street indexes fell, with the S&P 500 tech index down 1.6%.
Commodities Oil Prices Slide After US and Iran Sign Peace Deal to Reopen Strait of Hormuz
Oil prices fell sharply in early Asian trade after Pakistan announced a peace deal between the US and Iran, with the Strait of Hormuz set to reopen. Brent crude dropped 3.8% to $84.02 a barrel, while US-traded oil slid 4.1% to $81.40. The deal, brokered by Pakistan's Prime Minister Shehbaz Sharif, will be formally signed on 19 June in Switzerland.
Trade Mexico Holds Top US Trade Spot as Trump Raises Doubts on Renewing USMCA
Mexico held its position as the top U.S. trading partner in April with $86.04 billion in two-way trade, a 23.4% increase year-over-year, extending a streak since 2023. President Donald Trump raised doubts about renewing the USMCA, stating he is not looking to renew it. USMCA negotiations continue with a second round of talks scheduled in Washington.
Trade Meta Employee Detained by Immigration Agents Post-Layoff
A former Meta employee was detained by US Immigration and Customs Enforcement following a layoff on May 20. The incident raises concerns about the treatment of immigrant tech workers in the US.
Technology OpenAI: fake China-linked accounts used ChatGPT to turn Americans against AI dat
OpenAI has banned accounts it says were part of two China-linked influence campaigns that used ChatGPT to generate social media content opposing AI data centers and US tariffs. The campaigns, named 'Data Center Bandwagon' and 'Tech and Tariffs,' failed to gain significant traction, but highlight the use of AI in foreign influence operations.
Commodities How US overtook Saudi and Russia to become world's top oil exporter
The United States has become the world's largest oil exporter, with crude and fuel shipments reaching about 10.5 million barrels per day in May, overtaking Saudi Arabia and Russia. The milestone marks a dramatic reversal from past dependence on imported oil, driven by the shale revolution, the lifting of a four-decade export ban in 2015, and recent geopolitical disruptions including the Strait of Hormuz crisis. European and Asian buyers are increasingly turning to US supplies, reshaping global trade flows and challenging OPEC's influence.
Commodities Crude Oil Futures Rise Amid US-Iran Tensions
Crude oil futures saw an increase following US military strikes on Iran. Brent and WTI futures rose, driven by geopolitical tensions and potential disruptions in the Strait of Hormuz.
Logistics U.S. Rail Freight Surges with 7.8% Volume Increase
U.S. rail freight volumes have surged by 7.8% for the week ending June 6, 2026, with significant growth in intermodal traffic. Key commodities like grain and metallic ores are leading the charge, while coal and chemicals see declines.
Trade India-US Energy Cooperation Aims for $500 Billion Trade by 2030
A report highlights the potential of India-US energy cooperation to achieve a $500 billion trade target by 2030. The partnership focuses on hydrocarbons and advanced technologies.
US Inflation Hits Three-Year High at 4.2%
US inflation has surged to a three-year high of 4.2%, primarily due to rising energy costs. This increase raises the likelihood of the Federal Reserve raising interest rates.
Technology Face-Recognition Tool Failure Leads to Wrongful Arrest
A Florida man's wrongful arrest due to a faulty face-recognition match exposes significant flaws in one of the oldest police face-recognition systems in the US. The incident raises concerns about the reliability and oversight of such technologies in law enforcement.
Logistics Samsung Heavy Secures $2.9bn Contract for US FLNG Project
Samsung Heavy Industries has signed a $2.9 billion contract to construct the Delfin FLNG Unit 1, the first floating liquefied natural gas unit in the United States. The project, involving Mitsui O.S.K. Lines and Delfin Midstream, is set to begin production in 2030.
Commodities Crude Oil Futures Surge Amid US-Iran Tensions
Crude oil futures saw an uptick following US military strikes on Iranian targets. The geopolitical tension has influenced Brent and WTI futures, with significant movements in the market.
Trade EU Unveils Strategy to Reduce US and Chinese Tech Dependence
The European Commission has introduced a Tech Sovereignty Package to decrease reliance on US and Chinese technology. This includes the EU Chips Act 2.0, Cloud and AI Development Act, and Open Source Software Strategy. CISPE expresses concerns over potential loopholes.
Trade India's Energy Shift: Russian Crude and US LPG/LNG Imports
India continues to import significant amounts of Russian crude oil despite US pressures, while increasing LPG and LNG imports from the US. Geopolitical tensions and economic factors drive these energy trade decisions.
Technology UK Reviews NHS Contract with Palantir Amid Security Concerns
The UK government is reviewing its NHS contract with Palantir due to data security concerns and ties to US defense. The review could lead to early termination of the £330 million deal.
Technology Indian Envoy Boosts AI and Supply Chain Ties with US Leaders
Indian Envoy Vinay Kwatra met with US corporate and tech leaders, including Walmart's CEO, to discuss AI and supply chain collaboration. The meetings aim to strengthen economic and technological ties between India and the US.
US Lists BYD, Alibaba for Alleged Military Ties
The US Department of Defense has added Chinese firms BYD and Alibaba to a list of companies with alleged ties to the Chinese military. The list, known as Section 1260H, includes over 80 firms and aims to alert American businesses to potential risks.
Logistics FMCSA Addresses Motus Rollout Issues Amid Industry Concerns
The FMCSA has issued two statements addressing the problematic rollout of the Motus registration system, which has affected trucking compliance processes. The agency is prioritizing fixes to insurance filings and operating authority status.
Commodities Gold Prices Decline Amid US-Iran Tensions and Rate Hike Fears
Gold prices have declined due to renewed US-Iran tensions and fears of a US interest rate hike. Spot gold is down 0.4% to $4,313.11 per ounce, with US futures also dropping.
Technology Trump and AI Leaders Discuss US Investment Stakes
President Trump is set to meet with AI leaders to discuss potential US government investments in major AI companies. This move aims to create a partnership with the American public, similar to the previous Intel investment. Meanwhile, Senator Bernie Sanders proposes a 50% public ownership stake in AI firms.
Trade US Imposes New Tariffs Over Forced Labour Concerns
The US has announced new tariffs ranging from 10% to 12.5% on imports from 60 countries due to forced labour concerns. The tariffs, not yet enforced, aim to address unfair competition for American workers.
Commodities Gold and Silver Prices React to Global Tensions and Economic Data
Gold and silver prices are experiencing volatility due to geopolitical tensions in the Middle East and key economic data from the US and India. Analysts are closely monitoring these developments for future price movements.
Finance US Mortgage Rates Ease to 6.48%, Impact on Trade Finance
US mortgage rates have eased to 6.48% from a nine-month high, influenced by inflation and energy prices. This development impacts trade finance costs and international business competitiveness.
Trade India-US Trade Deal Talks Include Proposed 12.5% Tariff
The India-US trade negotiations, described as '75 years overdue' by USIBC's Atul Keshap, include a proposed 12.5% tariff on Indian goods. Talks aim to boost bilateral trade to $500 billion.
Trade India, US Near Completion of Trade Deal Talks
India and the US are nearing the completion of a bilateral trade agreement, with only minor details remaining. The deal aims to strengthen economic ties and address tariff issues.
Business Tech Stocks Drag US Markets Down Amid Strong Jobs Data
US stock markets fell on June 5, 2026, with the S&P 500 and Nasdaq declining due to a drop in tech stocks. Strong jobs data reduced hopes for Federal Reserve rate cuts.
Trade India-US Trade Deal Phase One Imminent, Says Goyal
India and the US are set to finalize the first phase of their trade deal by mid-next month, according to Commerce Minister Piyush Goyal. The agreement aims to provide India with preferential access over competitors.
Regulations & Compliance DACA recipient petitions FMCSA in CDL dispute
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Commodities Crude Oil Prices Dip Amid Middle East Tensions
Crude oil prices saw a slight decline as Hezbollah rejected a US-backed ceasefire proposal in Lebanon, impacting global supply routes. Despite this, oil prices recorded a weekly gain due to ongoing Middle East tensions.
Commodities Gold Prices Dip Amid Elevated Crude and Geopolitical Tensions
Gold prices have fallen this week as crude oil remains elevated due to US-Iran tensions. The market is reacting to geopolitical uncertainties and supply disruptions.
Business US Stock Indices Fall Amid Geopolitical Tensions
US stock indices, including the Dow Jones, Nasdaq, and S&P 500, ended their winning streak due to profit-booking and geopolitical concerns. The Dow fell 1.2%, Nasdaq 0.9%, and S&P 500 over 0.7%.
Trade US Trade Chief Affirms Tariff Deal Amid New Proposals
US Trade Representative Jamieson Greer reaffirmed the tariff agreement with the EU amidst new proposals to impose import taxes on 60 economies. The EU-US deal includes a 15% tariff ceiling on EU exports.
Logistics CMA CGM's $2,600 Surcharge Signals Peak Season Surge
CMA CGM has announced a $2,600 surcharge on containers from the East Mediterranean to U.S. East Coast ports, reflecting peak season demand. This increase affects shipments from several countries, with implications for freight forwarders and logistics managers.
Trade India, US Discuss Non-Tariff Measures to Boost Trade
India and the US are negotiating non-tariff measures to strengthen bilateral trade. Discussions include customs and trade facilitation, with a focus on economic security alignment.
Trade US Proposes New Tariffs on India Amid Trade Talks
The US Trade Representative has proposed new tariffs on India under Section 301, citing unfair trade practices. This move comes during ongoing trade negotiations between the US and India.
Trade US Invests $1.5B in LNG Infrastructure in India & SE Asia
The US is set to invest $1.5 billion in energy infrastructure, focusing on LNG, in India and Southeast Asia. This move aims to enhance energy security and expand US exports.
Trade India Monitors US Tariff Moves Amid China Concerns
India is closely monitoring the US's proposed 12.5% tariffs on 54 countries, with a particular focus on potential impacts on China. Indian exporters are concerned about maintaining their competitive edge as global buyers diversify away from China.
Trade U.S. Imposes Tariffs on 60 Nations for Forced Labor Failures
The United States has announced new tariffs up to 12.5% on 60 countries failing to curb forced labor in export goods. This move aims to protect U.S. businesses from unfair competition.
Commodities Brent Crude Nears $100 Amid Iran Tensions, Impacting Global Markets
Brent crude prices surged to $97.51 per barrel on the ICE, nearing the $100 mark due to escalating tensions between the US and Iran. The geopolitical unrest has heightened supply concerns, impacting global markets.
Business US Markets Surge to Record Highs Amid Strong Labor Demand
US stock markets closed at record highs, with the Dow Jones, S&P 500, and Nasdaq all posting gains. The rise is supported by strong labor demand, as job openings increased significantly.
Logistics Rail Safety Concerns Rise Amid Fatal Train Incidents
Five fatalities across four freight train incidents in the US highlight ongoing rail safety concerns. The accidents involved Norfolk Southern trains in Texas, Michigan, North Carolina, and Pennsylvania.
Trade India-US Trade Deal Nears Completion, Final Details Pending
India and the US are on the brink of finalizing a trade agreement, with only 1% of the terms left to negotiate. US envoy Sergio Gor expressed optimism for completion within weeks.
Trade ATF Price Fund to Stabilize Airline Costs Amid US-Iran Conflict
The Indian government has approved a Rs 10,000 crore Aviation Turbine Fuel Price Stabilization Fund to mitigate the impact of rising fuel costs on airlines due to the US-Iran conflict. This fund aims to stabilize ATF prices and protect the aviation sector.
Trade US Envoy Meets Piyush Goyal for Trade Deal Talks
US envoy Sergio Gor is set to meet India's Commerce Minister Piyush Goyal to finalize a bilateral trade agreement. The deal, which is 99% complete, aims to enhance market access and strengthen economic ties between the US and India.
Trade US Navy Disables Sanctions-Evading Tanker Near Kharg Island
The US Navy fired a Hellfire missile at the VLCC Lexie, a tanker heading for Iran's Kharg Island, amid ongoing sanctions evasion. This action has intensified tensions in the Persian Gulf, leading to retaliatory strikes by Iran.
Trade US Seizes Iran's Largest Crypto Network Amid Sanctions
The US has imposed sanctions on Iran's largest cryptocurrency exchange, Nobitex, accusing it of aiding sanctions evasion. This move intensifies economic pressure on Tehran amid ongoing peace talks.
Trade US May End Russian Oil Waivers Amid Global Energy Concerns
The US is considering ending sanction waivers on Russian oil imports, initially granted to stabilize global energy supplies. The decision, pending from the Department of Treasury, could affect countries like India that benefited from these waivers.
Trade US Targets 60 Nations Over Forced Labour, India Included
The US Trade Representative proposes additional tariffs on 60 countries, including India, due to forced labour concerns. The proposal, under Section 301 of the US Trade Act of 1974, suggests tariffs of 10% to 12.5% on imports.
Logistics Old Dominion's May Update Shows LTL Market Recovery
Old Dominion Freight Line reports a 12.3% year-over-year increase in revenue per day for May, reflecting an improving less-than-truckload (LTL) market. Despite a slight decline in tonnage, the company benefits from rising diesel prices and heavier shipment weights.