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Japan Receives First American Oil Shipment Following Strait of Hormuz Closure

Key Points: A tanker holding 145,000 kiloliters of American crude oil arrived in Tokyo Bay on Sunday. The delivery marks the first United States oil shipment to Japan since the Iran conflict started in late February. Japan usually buys more than 90 percent of its crude oil from the Middle East through the blocked Strait of Hormuz. Japanese officials and energy companies now desperately seek...

US Budget Airlines Ask Government for $2.5 Billion Financial Rescue Package

Key Points: A coalition of United States budget airlines, including Frontier and Avelo, wants a $2.5 billion financial rescue package from the federal government. Airline executives met with Transportation Secretary Sean Duffy and FAA chief Bryan Bedford in Washington last Tuesday to discuss the deal. The carriers blame their financial troubles on the ongoing war in Iran, which pushed jet fuel prices above $4 a...

China Builds New Economic Weapons Ahead of Trump Summit

Key Points: U.S. President Donald Trump rated his October meeting with Chinese President Xi Jinping a 12 out of 10, expecting an end to trade retaliation. Beijing enacted sweeping new laws to seize assets and punish foreign companies that move their supply chains out of China. The United States threatened to impose sanctions on Chinese purchases of Iranian oil, which account for 80% of Iran's...