Senate majority leader Thune said it would be ideal if the White House abandoned the fund.

Japan Prime Minister Takaichi said she held a phone call with the Iranian president.

UK shipping media reported on May 30 that disruptions to transits through the Strait of Hormuz have sharply increased bunker fuel costs, with carriers passing higher fuel bills to shippers and global container freight rates rising markedly. The report said the fuel surge is the main driver: at the world’s top-20 bunkering hubs ultra-low-sulfur fuel oil is up 68% since mid-February and high-sulfur fuel oil is up 66%. Shipping consultancy Drewry warned that if the Strait of Hormuz is not reopened quickly the shock to the market will intensify and container rates face further upward pressure in the coming weeks amid seasonal strength.