A group of centrist House Democrats on Tuesday unveiled a war powers resolution that would give the Trump administration more leeway on Iran than the measure their leadership is pushing. Why it matters: The effort reflects the extreme reluctance some hawkish Democrats have towards voting for the resolution introduced by anti-interventionist Reps. Ro Khanna (D-Calif.) and Thomas Massie (R-Ky.). - Unlike the Khanna-Massie measure , the centrist Democrats' alternative resolution would give the administration 30 days to end hostilities with Iran. - It would also allow them to maintain "a troop presence in the region for defensive purposes." Driving the news: The resolution was introduced by Reps. Josh Gottheimer (D-N.J.), Greg Landsman…
President Trump said the U.S. will "immediately" offer "political risk insurance and guarantees" for energy tankers and other ships in the Gulf region , and that the Navy will escort tankers through the Strait of Hormuz if needed. Why it matters: The White House is trying to ease oil price spikes that are starting to boost U.S. gasoline prices. - His statement on Truth Social comes as tankers are avoiding the Strait of Hormuz, the narrow waterway abutting Iran that handles a whopping one-fourth or so of the world's maritime oil trade, and huge amounts of liquefied natural gas, too. Driving the news: Trump said the financial assurances would be offered through the U.S. Development Finance Corp. at a "reasonable price." - "If necessary,…
Sure, oil prices have soared since attacks on Iran and counterstrikes began — but it's also possible the market isn't freaking out enough. Why it matters: Consumers and companies worldwide will feel the effects of the conflict that's pushing up petroleum and natural gas prices. - But oil hasn't yet approached the $100-per-barrel — or higher — level that numerous market-watchers say is possible in the unpredictable, expanding regional battle. The intrigue: Veteran analyst Bob McNally sees a mismatch between risk and oil prices, and believes the market remains too complacent despite the recent rise. - The president of Rapidan Energy Group points to years of geopolitical crises that didn't bring large-scale disruptions to oil…
In Springfield, Ohio, some Americans have converted their basements and spare bedrooms into shelters for immigrant families who could be targeted in raids.