The Federal Reserve heads into a decision day shaped by war-driven energy inflation risk, while a legal fight over subpoenas targeting Jerome Powell raises new questions about central bank independence.

The International Maritime Organization meets in London March 18 to 19 to address shipping and seafarer impacts in and around the Strait of Hormuz as selective transits continue amid war.

The global oil market remains under heavy pressure as the Iran war disrupts flows through the Strait of Hormuz and pushes energy prices back above $100 a barrel.

Global oil prices have surged above $100 per barrel as the war involving Iran, Israel, and the United States spreads across the Gulf region.