Good morning. President Donald Trump’s pledge to offer insurance backstops and naval escorts for vessels transiting the Strait of Hormuz highlights the critical role it plays in global energy markets, while the continued elevation in oil prices suggests energy traders are worried that such moves may not reduce the risk of attack.
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The Fed survey, which tracked more than 6,500 responses from businesses with fewer than 500 employees nationwide, found that 76% of companies experiencing higher foreign input costs have passed at least some of those increases directly to consumers.
tandfonline.com