Iran's Attacks on Tankers Threaten Oil Export Recovery; Trump Eases Diesel Rules
Iran has increased attacks on tankers transiting the Strait of Hormuz, raising concerns about oil supply disruptions and threatening a fragile rebound in exports. Nearly 20 commercial ships have been attacked over the past month near Hormuz or off Oman's coast, heightening market anxiety. In response to rising fuel costs ahead of U.S. midterm elections, President Donald Trump has allowed broader use of cheaper red-dyed diesel typically reserved for farm operations. This move could save truckers more than $100 per fill-up by exempting the fuel from highway taxes. Meanwhile, the S&P 500 reached a new intraday high driven by falling Treasury yields and strong performance in tech stocks. Anthropic is expanding its Claude Startups program to support fast-growing companies with access to AI tools and credits.
Topics: Iran oil exports S&P 500 Strait of Hormuz U.S. fuel policy