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Two fuel tankers are burning in Iraqi waters after being attacked by Iran's explosive-laden boats, forcing the country's #oil ports to halt operations. Oman has reportedly cleared all vessels out of its main oil export terminal, taking no chances.
That was enough to send Brent crude futures back above $100, up nearly 9% at $100.07, having hit as high as $119.5 earlier this week. US crude also gained 8% to $94.25.
#Trump #US #Iran #war #inflation #economy #geopolitics #MiddleEast
#Trump may be talking about a #war already won, but someone forgot to send #Iran the memo as Tehran steps up attacks on ships in the Gulf waters, warning the world of #oil prices at $200 a barrel.
Oil's reaction to a record release plan from the International Energy Agency is telling. 400 million barrels is only around 20 days of the supply that has been lost, so clearly investors are more worried about the prospect of a lengthy blow to supply than what Trump says.
#MojtabaKhamenei acknowledged the death of his father, signaling he was there & saw his father’s body. Khamenei also confirmed his wife, one of his sisters, his niece & the husband of his other sister also were killed in the strike.
“I had the honor of seeing his body after his martyrdom,” Khamenei said of his father. “What I saw was a mountain of steadfastness, & I was told that the fist of his intact hand had been clenched.”
#TrumpsWar #US #Iran #war #Trump #RegimeChange #RulesOfWar
#MojtabaKhamenei statement calls on Gulf Arabs to ‘shut down’ #US bases, saying promised US protection ‘nothing more than a lie’
“These countries must clarify their position regarding those who have attacked our beloved homeland & killed members of our people. I recommend that they shut down those bases as soon as possible, because by now they must have realized that the United States’ claims of providing security & peace have been nothing more than a lie.”
#MojtabaKhamenei statement cont∶
“One point I must emphasize is that, in any case, we will obtain compensation from the enemy. If it refuses, we will take from its assets to the extent we deem appropriate, & if that is not possible, we will destroy its assets to the same extent.”
#TrumpsWar #US #Iran #Israel #war #ForeverWars #Trump #RulesOfWar #law #Congress #WarPowers #geopolitics #MiddleEast #inflation #economy #affordability #CostOfLiving #oil #energy
“Our sincere thanks go to our brave fighters who, at a time when our nation & beloved homeland have been unjustly attacked by the leaders of the front of arrogance, have blocked the enemy’s path with their powerful blows & dispelled their illusion of being able to dominate our beloved country or possibly divide it,” #MojtabaKhamenei said.
“A limited portion of this retaliation has already taken tangible form, but until it is fully achieved, this file will remain open above other cases. We will be especially sensitive regarding the blood of our children. Therefore, the crime the enemy deliberately committed against the Shajareh-Tayyebeh school in Minab, & some similar cases, holds a special status in this process of accountability,” #MojtabaKhamenei said.
#TrumpsWar #US #Iran #war #ForeverWars #Trump #WarCrimes #RulesOfWar
“I assure everyone that we will not refrain from avenging the blood of your martyrs. The retaliation we have in mind is not limited only to the martyrdom of the great leader of the Revolution; rather, every member of the nation who is martyred by the enemy constitutes a separate case in the file of revenge,” #MojtabaKhamenei said.
#TrumpsWar #US #Iran #Israel #war #ForeverWars #Trump #Netanyahu #WarCrimes #RegimeChange #RulesOfWar #law #Congress #WarPowers #geopolitics #MiddleEast
#Trump says stopping ‘evil empire’ higher priority than high #oil prices & #inflation
Oil #prices surged in the #US following more #Iran attacks on #OilTankers.
“The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money. BUT, of far greater interest & importance to me, as President, is stoping an evil Empire, Iran, from having Nuclear Weapons, & destroying the Middle East &, indeed, the World. I won’t ever let that happen!”Trump posted.
Higher #MortgageRates could widen that gap even further, making it harder for many households; wealthier buyers & investors are more likely to pay in cash.
The geopolitical tensions driving #energy prices higher are also complicating the outlook for #InterestRates. Expectations that the #FederalReserve might begin cutting rates have faded as #markets worry #inflation could stay higher for longer than anticipated.
#WealthDivide #inequity #economy #affordability #CostOfLiving #housing #Trump
“Investors” accounted for 30.2% of home purchases in 2025, nearly double their share at the start of the #pandemic, according to data from Cotality. A report from Realtor.com found the change wasn’t because of a surge of investor activity, but rather a pullback from traditional buyers who could no longer afford today’s prices.
#WealthDivide #inequity #economy #affordability #CostOfLiving #housing #Trump #trumpcession #recession
…With borrowing costs elevated, the high prices are keeping middle- & low-income buyers on the sidelines while wealthier households & investors are playing a larger role in the market.
#WealthDivide #inequity #economy #CostOfLiving #housing #Trump
The strain in the #housing market has become a key political issue, & #Trump has raised a number of [impractical] ideas for how to address the costs — like introducing 50-year mortgages, barring Wall Street investors from buying single-family homes & directing Fannie Mae & Freddie Mac to purchase $200 billion in mortgage-backed bonds. His admin has yet to follow through on most of them.
#economy #affordability #CostOfLiving #trumpcession #recession
“There is abundant evidence that the subpoenas’ dominant (if not sole) purpose is to harass & pressure Powell either to yield to the president or to resign & make way for a Fed Chair who will,” Judge #Boasberg wrote. “On the other side of the scale, the government has offered no evidence whatsoever that Powell committed any crime other than displeasing the president.”
#Trump #MafiaState #law #LegalEthics #JeromePowell #FederalReserve #economy #RevengePolitics #WeaponizationOfGovernment
In a blistering 27-page decision unsealed on Friday, the judge, James #Boasberg, derided the #USattorney’s office in Washington, led by the #Trump loyalist #JeaninePirro, for pursuing a case against #JeromePowell. It appeared that the only reason prosecutors had to do so, he added, was Trump’s desire to seek #vengeance against the #Fed chair. Powell has long resisted calls from the White House to adjust #InterestRates for political reasons.
But if the recent uptick continues, #MortgageRates will add to a list of concerns that could keep #home buyers on the sidelines, said Hannah Jones, a senior economic research analyst at Realtor.com.
“Spring feels very uncertain,” Jones said. “This definitely feels like we’re back where we were a year ago: #tariff uncertainty, #economic uncertainty, #geopolitical uncertainty. All of this is making the path ahead seem really unclear.”
#Home buyers have already been struggling with high #prices, as well as rising #insurance & #property #taxes. #MortgageRates were one source of relief, having fallen from much higher levels in recent years. Even at 6.11, rates are well below their recent peak of 7.8% in October 2023, which was the highest level in decades as the #economy was recovering from the #pandemic. Back then the yield on the 10-year Treasury note was approaching 5%.
When the #US & #Israel attacked #Iran, setting off an #energy crisis & raising new #inflation concerns in #FinancialMarkets. The result has been a jump in the yield on government bonds, & falling expectations for #InterestRate cuts later this year. The yield on the 10-year #Treasury note, which acts as a broad reference interest rate that underpins the US #mortgage market, climbed to 4.25% Thursday, up from below 4% before the war began.
#MortgageRates Rise as #Iran #War Ripples Through #FinancialMarkets
#Mortgage are climbing again as new #inflation concerns have roiled financial #markets.
The average 30-year fixed-rate mortgage rate in the #US rose to 6.11%, the mortgage-financing giant Freddie Mac said Thursday, the second week in a row that rates have risen.
#economy #affordability #CostOfLiving #Trump #trumpcession #recession
nytimes.com/2026/03/12/busines…
The colored walls visible from satellite imagery as early as 2018 can be seen in a version of the school’s website archived in 2025, whose photos showed girls dressed in identical pink & white in class & at play. The #school was also tagged in a local business listing, Reuters found. And multiple satellite images from the months leading up to the strike provide other indications it was a school, including playground markings.
#Iran #war #Trump #US #WarCrimes #ShajarehTayyebeh #RulesOfWar #law
Separated from the base by a wall painted with bright murals, the #ShajarehTayyebeh #School was the northernmost building hit on February 28. The building was destroyed during the barrage, & 150 #students were killed, according to #Iran's ambassador to the #UN in Geneva, Ali Bahreini. Reuters has not independently confirmed the death toll, which the Iranian Red Crescent said reached 175.
#war #Trump #Hegseth #US #WarCrimes #RulesOfWar #law #Congress #WarPowers #geopolitics #MiddleEast
An #Iran #girls #school that took a direct hit on the first day of the #war had a yearslong online presence, including dozens of photos of the #children & their activities, before it was bombed along with at least 6 other buildings in an adjacent military compound, a Reuters investigation found.
The school’s online activity calls into question how the #US #military vets & reviews strike locations.…
#war #Trump #Hegseth #WarCrimes #RulesOfWar #law #Congress #WarPowers #geopolitics #MiddleEast
Bombed #Iran #girls #school had vivid website & yearslong online presence raising questions about #US middle strike targeting error
The #ShajarehTayyebeh School was adjacent to an Iranian military compound & was among at least 7 buildings struck Feb 28. Its online presence included a local business listing & a website that showed #children at work & play. Iran ofcls have said #students made up most of the 175 people killed that day in Minab.
And across the United States, Canada, Europe, Britain & Mexico, #farmers blanched at the surge in #fertilizer costs.
The widening #war in #Iran has delivered a stunning punch to a worldwide #economy that has already been walloped by a breakdown of the international trading order, war in Ukraine & Trump’s chaotic policymaking.
#TrumpsWar #US #Iran #war #Trump #RulesOfWar #law #WarPowers #geopolitics #MiddleEast #inflation #economy #affordability #CostOfLiving #oil #energy #EnergyCrisis
#Oil Shock’s Tentacles Grip #WorldEconomy: ‘This Really Is the Big One’
Countries already walloped by a breakdown of the international #trade #chaos brought on by #Trump #tariffs, #war in #Ukraine & chaotic #US policymaking are facing lasting economic damage.
#TrumpsWar #war #ForeverWars #law #Congress #WarPowers #geopolitics #MiddleEast #inflation #affordability #CostOfLiving #energy #EnergyCrisis
“All the key measures are moving in the wrong direction.”
Economic growth was much slower at the end of 2025 than data first showed & inflationary pressures persisted at the start of this year, a troubling snapshot of an #economy on unsteady footing before #war with #Iran upended #oil & #FinancialMarkets.
#economy #Trump #inflation #affordability #CostOfLiving #recession
nytimes.com/2026/03/13/busines…
All six crew members aboard a US #military #KC135 refueling aircraft that crashed in western #Iraq are dead, the #USmilitary said, adding that the circumstances of the incident are being investigated.
#TrumpsWar #US #Iran #war #Trump #RulesOfWar #law #WarPowers #geopolitics #MiddleEast
apnews.com/article/us-military…
He noted that the price of Russian #oil had been rising since the #war in #Iran started, & that it was likely that the #sanctions relief could be extended indefinitely.
“I do worry that this is effectively the destruction of the oil sanctions on #Russia,” said Mr. Fishman….
#TrumpsWar #US #ForeverWars #Trump #Ukraine #law #Congress #WarPowers #geopolitics #MiddleEast #inflation #economy #affordability #CostOfLiving #energy #EnergyCrisis
About 130 million barrels of Russian #oil is currently at sea….
The move by the #Trump admin could further divide the #US & #Europe, which has been skeptical of Trump’s attack on #Iran & has expressed a desire to continue to exert economic pressure on #Russia.
Fishman said he did not think that easing the Russia oil #sanctions would lower prices, noting that the move last week to let Russian oil be delivered to India did not have any impact.
The lifting of #oil #sanctions represents a sharp reversal from last summer, when the admin doubled #tariffs on #India as punishment for its purchases of oil from #Russia.
“In one fell swoop we’ve undone a huge amount of pressure on Russia,” said Edward Fishman, a senior fellow & director of the Maurice R. Greenberg Center for Geoeconomic Studies at the Council on Foreign Relations.
#TrumpsWar #US #Iran #war #Ukraine #Trump #law #Congress #WarPowers #geopolitics #inflation #economy #energy
…Top #Senate #Democrats assailed the #Trump admin for easing #sanctions on #Russia, saying that it was done to mitigate a #war of Trump’s own making.
“This war has resulted in huge spikes in gas prices for Americans, who are now paying more at the pump than at any point in either of President Trump’s two terms,” they wrote in a joint statement.
#TrumpsWar #US #Iran #law #Congress #WarPowers #geopolitics #Ukraine #inflation #economy #affordability #CostOfLiving #oil
banking.senate.gov/newsroom/mi…
Senate Democratic Leaders Release Joint Statement on Trump Administration's Weakening of Sanctions on Russian Oil in Attempt to Dampen Economic Impacts of Trump's Iran War | United States Committee on Banking, Housing, and Urban Affairs
The Official website of The United States Committee on Banking, Housing, and Urban Affairswww.banking.senate.gov
#Russia has faced punishing #sanctions from the #US & the rest of the #G7 advanced economies since Moscow’s invasion of #Ukraine in 2022. Those sanctions have included a price cap on Russian #oil & a crackdown on Russia’s “shadow fleet” of unmarked vessels…used to evade sanctions.
As #TrumpsWar with #Iran has unfolded, his admin has looked for ways to mitigate the economic pain. His admin temporarily freed Russian oil last week that was sitting at sea to be delivered to India.
The exemptions, which were issued by the #Treasury Dept, will be in place until April 11. Treasury Secy Scott Bessent estimated that freeing Russian #oil could add hundreds of millions of barrels of crude to global markets [& enrich #Russia], curbing prices that have been hovering near $100 per barrel as a result of the #Iran #war.
The decision was a significant turning point in America’s effort to punish Russia for its war in #Ukraine.
The other option? Don’t attack #Iran. Idiots.
#Trump Removes #Sanctions on #Russia to Help #Oil Flow Amid Iran #War
The #US on Thursday temporarily lifted sanctions on Russian oil that is currently at sea, allowing it to be shipped to buyers around the world as the Trump admin scrambles to contain #energy #prices that have been soaring because of the war in Iran.
#TrumpsWar #law #WarPowers #geopolitics #Ukraine #inflation #economy #affordability #CostOfLiving
nytimes.com/2026/03/12/us/poli…
…“This administration is systematically looking for ways to let polluters off the hook,” Sarah Buckley, a senior atty at the Natural Resources Defense Council, said… “If this abuse of authority is left unchecked, communities will pay the price in higher #cancer risks.”
…The #EPA will solicit public comments on the proposed rule for 45 days after its publication in the Federal Register. The agency will then finalize the rule, likely within the year.
…inhaling the gas can cause coughing, dizziness, fatigue & nausea. Long-term exposure can damage the #brain & central nervous system & can increase the risk of breast #cancer, #leukemia, #lymphoma & other #cancers of the white blood cells.
The #EPA first classified #EthyleneOxide as a human #carcinogen in 2016. The agency based the determination on studies showing that the gas was 60 times more toxic to children & 30 times more toxic to adults than previously thought.
#Trump #law #PublicHealth
The agency’s proposed rule would loosen limits on #EthyleneOxide #emissions from around 90 commercial sterilization facilities across the country. Roughly 2.3 million people live within two miles of these facilities in what are often #LowIncome neighborhoods or #CommunitiesOfColor, according to an analysis by the Union of Concerned Scientists, an environmental group.
#Trump #EPA #law #EnvironmentalLaw #GeographicInequality #regulations #health #PublicHealth #safety
The move revived a long-running debate about the paradoxical effects of #EthyleneOxide on #PublicHealth. While it plays a crucial role in sterilizing lifesaving medical devices like pacemakers & syringes, long-term exposure can cause #leukemia & other types of #cancer among people who #work in or #live near medical sterilization facilities.
#Trump #EPA #law #EnvironmentalLaw #regulations #health #safety
#Trump #EPA Moves to Weaken Limits on a #Cancer Causing #Gas
The gas, #EthyleneOxide, plays a crucial role in sterilizing medical devices. But long-term exposure is linked to several types of cancer & other ailments.
#law #EnvironmentalLaw #regulations #health #PublicHealth #safety
nytimes.com/2026/03/13/climate…
“We want to avoid manipulation & speculation,” Díaz-Canel said in a news conference following his speech. The talks, he said, were still “in their first phase...to establish an agenda” that high-level groups of officials on both sides would address.
“We have to construct the space that lets us move forward,” he said.
#NationalSecurity #Trump #warmonger #MadWithPower #MafiaState #imperialism #Cuba #sovereignty #geopolitics #NATO #NewWorldOrder #law #Congress #WarPowers #InternationalLaw