Aluminum, one of the metals most directly affected by the war in Iran, is struggling to attract buyers in China after prices surged to a four-year high.

With the Xi-Trump summit almost certainly delayed, and tensions rising over the war in Iran, vital issues for both the U.S. and China are also being cast into uncertainty.

Problems in the Persian Gulf are likely to give further impetus to China-Russia energy cooperation in the Arctic.

With the Iran war entering a third week, Israel said it plans for at least three more weeks of war, while President Trump demanded other countries help the U.S. secure the vital Strait of Hormuz.