Mexico’s economy shrunk by the most in nearly six years in the first quarter in the latest economic setback for President Claudia Sheinbaum and despite her efforts to boost local and foreign investment to stimulate growth. Source: bloomberg.com

The US economy picked up steam in the beginning of the year as the United States and Israel launched a destabilizing war with Iran that has jacked up prices and is still ongoing. Source: cnn.com

Italy will extend beyond May 1 a cut in excise duties on fuels to help families ​and firms cope with rising energy costs, Economy ‌Minister Giancarlo Giorgetti said on Thursday, as consumer prices surged by almost 3% year-on-year in April. Source: reuters.com

Fox News’ Bryan Llenas reports live from Tel Aviv on President Trump weighing new military options against Iran, including deploying hypersonic missiles and taking over parts of the Strait of Hormuz. Source: foxnews.com

State leaders negotiated an agreement with Valero this year to use its idled Benicia facility to store and transport imported fuel, which brings little economic activity while freezing redevelopment plans. Source: kqed.org

The U.S. blockade and Iranian mines and drones continue to halt shipping in the Strait of Hormuz as each side bets the other will break first. Source: washingtonpost.com