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Energy Markets · Geopolitical Risk · Government Shutdown · Market Volatility
President Trump escalated the month-old war in Iran, mulling military operations to seize Kharg Island and extract uranium, while a bipartisan Department of Homeland Security funding deal collapsed in Congress, leading to unpaid DHS staff and rising oil prices impacting global markets.
Trump is considering seizing Kharg Island and a military operation to extract 1,000 pounds of uranium from Iran, as 50,000 US troops are already in the region, according to the Financial Times, NBC News, WSJ, and NYT. Iran's parliament speaker, Mohammad Bagher Qalibaf, threatened US troops, while Pakistan offered peace talks.
An Israeli soldier, Moshe Yitzchak Hacohen Katz, was killed in Lebanon, and 12 Americans were wounded in a Saudi Arabian base attack, as reported by AP and WSJ. The US allowed a Russian oil tanker into Cuba, breaking a blockade, to avoid confrontation with Russia, per NYT.
Oil prices are up after the Dow and NASDAQ entered correction territory last week, with the national average gas price rising to $3.99, according to CBS News and AAA. The DHS funding deal failed in the House, leading to a partial shutdown, with TSA agents paid via executive order from last year's funds, but other DHS staff remain unpaid, as reported by Washington Post, NPR, and Federal News Network.
Protests against Trump's policies, dubbed "No Kings" rallies, drew eight million people globally, per NYT. The Supreme Court will hear a birthright citizenship case, and FBI Director Kash Patel's email was hacked by a pro-Iran group, according to WSJ and NYT.
Trump Escalates Iran War, DHS Fails, Markets React(current)
