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...