Two ships sink near Hormuz; fertilizer plan stalls, food crisis looms

• Two ships sank near Hormuz after being hit by projectiles amid a surge in attacks.
• A stalled fertilizer plan through the strait could significantly drop agricultural productivity.
• A UN official warns of a looming food crisis due to the stalled fertilizer plan.
• The Federal Reserve considers a rate hike as inflation heats up.
• A diesel deal is seen as a step towards more Russia-US cooperation.