Oil prices surge 10% as US-Iran conflict reignites

US President Donald Trump said he would re-impose a blockade on the Strait of Hormuz, as a month-long ceasefire collapsed.
An oil tanker in the UAE.
Amr Alfiky/Reuters

Prospects of US rate hike rise as Iran conflict festers

A top central bank official said that “sternly staring at inflation until it melts before our withering gaze is not an option.”
Christopher Waller
Pedro Rocha/Reuters

OPEC trims oil demand forecast

The producer group cut its growth forecast for world oil demand this year by 20% — its third straight downward revision.
An OPEC logo.
Maxim Shemetov/File Photo/Reuters

Chinese exports hit record high on demand for AI, green tech

Soaring fuel prices saw green tech exports surge by a third in the first half of the year and shipments of EVs pass a million a month.
A chart showing the share of global goods exports by country.
AD
Politics

Warsh gets first Capitol Hill grilling as Federal Reserve chair

The Fed chair will likely field questions about his recently announced task forces.
Kevin Warsh
Eric Lee/Reuters

Senate weighs filling Graham’s committee seats

The late Sen. Lindsey Graham sat on the Judiciary, Appropriations, and Environment and Public Works committees, plus his Budget Committee chairmanship.
Lindsey Graham’s office
Leah Millis/Reuters

Trump is ‘very serious’ about Hormuz toll push

The proposal puts the US president at odds with some of his allies who opposed the toll idea.
Vice President JD Vance, President Donald Trump, and Secretary of State Marco Rubio
Kylie Cooper/Reuters

New York imposes first moratorium on data centers

New York Gov. Kathy Hochul, a centrist Democrat, is signing an executive order pausing permitting for hyperscaler data centers for a year.

Graham’s death may not shake loose his long-sought Russia sanctions bill

The legislation has a filibuster-proof majority, but it still lacks President Donald Trump’s public thumbs-up.

Republicans grapple with Graham’s death

His absence complicates every task on the floor for the Republican Party, from confirmations to legislation.

Graham’s legacy is inextricably tied to Trump

The South Carolina Republican will be remembered for his pivot to become a Trump ally, and for his love of the job.

Lindsey Graham, Republican senator and Trump ally, dies

The lawmaker’s office said he died following a ‘brief and sudden illness.’

Debatable: AI’s impact on the economy

Will the technology eliminate US jobs, or create more of them? Washington isn’t sure.

US lacks scores of ambassadors in Africa

Some 41 African countries currently lack a confirmed envoy, including Nigeria, Kenya, the Democratic Republic of Congo, Libya, and Sudan.

Gay Wyoming Republican sues members of his own party for ‘pedophile’ slur

“I’ve never experienced anything like this in my entire life,” said Reid Rasner, who’s running for Wyoming’s sole House seat.
AD