Oil-and-gas executives are flashing warning signals that the chaos in global energy markets started by the U.S.-Iran war will have far-reaching consequences.

Executives at an energy conference this week in Houston said the war is crippling the world’s fuel supplies, and the industry’s Middle East operations are at risk. They said fluctuating prices combined with the uncertainty hanging over the conflict are making it all but impossible to plan investments.

The WSJ’s Benoît Morenne and Collin Eaton report that signs of distress are mounting around the world. China has banned fuel exports for March. South Korea instated restrictions on driving for gas-powered vehicles. The Philippines is allowing consumers to use dirtier fuels.

The crisis stands to ripple across supply chains. Each passing week tankers can’t traverse the Strait of Hormuz, the world loses 70 million barrels of oil, as well as a host of other products vital for chip manufacturing, medical equipment and consumer goods.

Executives warn that even if the U.S. manages to reopen the waterway, it will take a long time for supplies of oil, fuel, plastics, natural gas and industrial gases—all critical to the global energy system and manufacturing daily essentials—to catch up with demand.

• President Trump said he was pausing strikes on Iran’s energy sector for 10 more days. (WSJ)
• Trump said the Iranian regime allowed several Pakistan-flagged oil tankers through the Strait of Hormuz. (WSJ)
• A prolonged Middle East conflict could sharply slow growth in developing Asia and the Pacific. (WSJ)
• German container line Hapag-Lloyd expects a major hit to earnings as disruption from the Middle East conflict adds to declining freight rates and slowing market growth. (WSJ)

Around 2,000 vessels and 20,000 seafarers are trapped in the Persian Gulf as a result of the Iran war. Crews can't change, nor can the vessels dock, which raises concerns about food, water, fuel and medical shortages on board.

Arsenio Dominguez, secretary-general of the International Maritime Organization, on the WSJ What’s News podcast discussed the plight of the mariners and the mounting economic costs the longer the war drags on.

A dispute between automaker Stellantis and a parts supplier derailed production of the new Jeep Cherokee, according to a lawsuit filed this week.

The WSJ’s Ryan Felton reports Stellantis said in the lawsuit a factory in Mexico has been shut down since March 14 because of a payment dispute with supplier ZF Chassis Modules (Windsor). The factory makes the Jeep Compass and Cherokee vehicles.

The lawsuit said the supplier also threatened to stop shipping parts to a Stellantis factory in Canada—where the Chrysler Pacifica minivan and Dodge Charger are made—unless the carmaker pays tens of millions of dollars in price increases.

Payment disputes between automakers and suppliers aren’t unusual, but rarely spill over into court and result in parts shipments being halted.

The interruption in production for Jeep and Chrysler presents a potentially significant headache for Stellantis, which has been trying to engineer a turnaround after a dismal performance last year.

• Investigators are probing the cause of a fire that burned a section of a large automotive glass plant near Dayton, Ohio. (WSJ)
• Jaguar Land Rover will shut down a UK plant for nearly two weeks due to a fire at its supplier in Norway. (Financial Times)

U.S. jobless claims rose slightly to 210,000 last week. (WSJ)

The Organization for Economic Cooperation and Development lifted its inflation forecast for the U.S. in 2026 to 4.2%. (WSJ)

European Union lawmakers voted to advance talks on the bloc’s trade deal with the U.S. (WSJ)

Rio Tinto dug the last diamond at its mine in Canada, marking the end of its decades-old diamonds business. (WSJ)

Fast-fashion retailer Hennes & Mauritz reported sales picked up in February and the trend continued into March. (WSJ)

Delivery Hero expects earnings to grow this year as it invests in its Asian and Middle East and North Africa markets. (WSJ)

A marine drone struck a crude oil tanker that had departed Russia, ‌causing an explosion in the Black Sea, Turkey's transportation minister said. (Reuters)

Shipment booking platform Freightos plans to reduce its workforce by up to 15%. (Journal of Commerce)

A Union Pacific Railroad employee suspected of driving a train under the influence of a controlled substance was arrested in Wyoming. (Wyoming Tribune Eagle)

Amazon is offering $1,000 prizes for delivery drivers who share stories about why they love their jobs. (Bloomberg)

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Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com.

Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.