The closure of the Strait of Hormuz as well as tensions in the Red Sea are reshaping trade routes, with Africa becoming a hub of global container ship traffic, according to logistics and maritime sources.[#item_full_content]
Oil Slips to 2-Week Low as US-Iran Seen Moving Closer to Peace Deal
Oil prices fell more than $5 to two-week lows on Monday, as optimism grew that the United States and Iran were moving closer to a