Donald Trump

Trump administration officials explicitly ruled out restricting US oil exports despite surging global demand from the Iran conflict. Interior Secretary Doug Burgum told American Petroleum Institute executives such measures are not under consideration, contrasting with China's own export bans that are worsening price pressures. The decision reflects lessons from the Biden era, when similar restrictions were considered but rejected after Russia's 2022 invasion. With the Strait of Hormuz handling 140 million barrels daily remaining disrupted, the US is choosing to maintain its role as a reliable supplier rather than pursue short-term domestic relief that could backfire economically and geopolitically.

Iran declared the Strait of Hormuz fully open Friday after seven weeks of closure, triggering the sharpest oil sell-off since March 2022. WTI fell to $84.95 per barrel while Brent dropped to $90.87, erasing $500 billion from energy markets as traders priced in normalised supply flows. Yet Trump's naval blockade stays active until Iran agrees to uranium transfers, keeping 19 vessels turned away and preserving leverage for nuclear talks set to resume in Pakistan within days. The reopening hinges on Lebanon's fragile ceasefire holding, making this relief temporary unless broader deals materialise.

Vice President JD Vance made his first Iowa trip as VP, defending economic policies amid reports of a sputtering economy while positioning for the 2028 Republican nomination race. Iowa Republicans tell Vance his presidential hopes hinge entirely on Trump's success, echoing concerns about the 'Kamala Harris problem' that saw her 107-day campaign fail after skipping primaries and struggling with economic messaging. Harris raised record $1.4 billion but lost key areas, including 35,000 fewer votes in Philadelphia than Biden managed in 2020. Vance faces the vice-presidential curse: inheriting Trump's base while needing independent political gravity to survive potential policy failures or Trump fatigue by 2028.

Six weeks of shipping gridlock ends Monday as Trump begins guiding neutral vessels through the Strait of Hormuz, bypassing Iranian-controlled routes. The USS Frank E. Peterson Jr. Already cleared IRGC sea mines from the international channel, enabling safer transit for the 20 million barrels daily that typically pass through. Trump described the mission as humanitarian following very positive discussions with Iran. Commercial ships have stuck to Iranian waters for weeks, adding massive rerouting costs. The test comes immediately: will vessels trust US-cleared channels over Iranian guarantees, and will Tehran's positive tone survive American warships directing traffic in its backyard.

Gold held steady after a second weekly decline as traders parsed mixed signals from Trump's Hormuz escort plan and ongoing Iran negotiations. The administration reviews a new Iranian proposal to reopen the strait while postponing nuclear talks, with core US demands unchanged: keeping shipping routes open and limiting Iran's 460kg stockpile of 60% enriched uranium. Reports of a tanker attack in the waterway cast doubt over Trump's neutral ship guidance plan. Oil prices steadied despite the incidents. Iran's foreign minister signaled openness to talks after meeting Putin, but Supreme Leader Khamenei previously rejected US conditions outright.

The former NYC mayor remains stable in a Florida facility eight months after a serious car crash in New Hampshire. Specific cause undisclosed.

A federal grand jury indicted James Comey on two counts of threatening President Trump, stemming from an Instagram post showing "86 47" that prosecutors interpret as intent to harm. The Justice Department alleges "86" means "to kill" and "47" refers to Trump as the 47th President, calling the May 2025 post a "disgraceful" public encouragement viewable worldwide. Comey faces up to 10 years per count if convicted. The case tests the boundaries of online political expression and could set precedent for symbolic speech prosecution in the social media age.

The ceasefire that pulled markets back from March lows is dead. Trump ordered the Navy to blockade the Strait of Hormuz starting Monday after firing on Iranian vessels, while Iranian state media confirmed no plans to attend weekend talks in Pakistan. FTSE 100 futures opened down 0.6 percent at 10,540 as Brent crude jumped to $95.29, erasing the relief rally that drove April gains. The Strait carries 20 percent of global oil supply and remains effectively shut, stranding tankers as storage nears capacity.

The S&P 500 stayed on track for its fourth straight weekly gain, the longest streak since October 2024, as reports emerged of Trump sending envoys to Pakistan for weekend talks with Iran's foreign minister. US crude dropped to $93 per barrel on reduced tensions, while futures jumped across indices with Dow e-minis up 171 points and Nasdaq 100 e-minis gaining 155 points in pre-market trading. The rally builds on recent record highs despite inflation risks, with Goldman noting 2026-2027 EPS estimates up 4 percent since late January. Bond yields fell after Justice Department closed its probe into Fed Chair Powell, boosting rate cut bets and Kevin Warsh confirmation odds.

The truce between Israel and Lebanon will extend another three weeks, Trump announced, buying more time for permanent border arrangements that neither side seems ready to finalize.

Trump's claims about saving Iranian women from execution involve both real cases and AI-generated content, complicating verification.

Trump extended the Iran ceasefire while maintaining naval blockades, sending oil prices into whipsaw trading around $82 per barrel. Peace talks have stalled over sanctions relief, with Iran demanding full lifting before any nuclear concessions. The market's muted response suggests traders expect this truce to fracture within weeks rather than months. Dollar weakness and steady gold prices indicate investors are hedging for renewed Middle East volatility, not celebrating diplomatic progress.

New government portal goes live for businesses seeking tariff refunds under revised trade policies.

Trump publicly demanded Jerome Powell step down by May or face termination, escalating his war with the Federal Reserve before he even takes office. Powell's term runs until 2026, and Fed chairs have legal protections against political firing. The threat triggered a 0.3 percent dollar rally as traders bet on more aggressive pro-growth policies. Powell has already signaled he won't resign voluntarily, setting up the first constitutional test of Fed independence since the 1970s.

Trump consulted with philanthropist Bill Pulte before posting his controversial Jesus comparison meme, according to sources. The coordination suggests more calculated social media strategy than his typical stream-of-consciousness posts.

Immigration enforcement hit 442,000 deportations last fiscal year, the first official data released under Trump's second term.

Donald Trump just picked a fight with 1.4 billion Catholics. After Pope Leo XIV condemned his threats to "destroy an entire civilization" if Iran doesn't reopen the Strait of Hormuz, Trump lashed out at the first American pontiff as "WEAK on Crime, and terrible for Foreign Policy." The Vatican had called Trump's ultimatum — complete with an 8pm Tuesday deadline — "truly unacceptable" violations of international law. While Trump announced a Pakistan-mediated ceasefire hours later, his attack on Pope Leo signals a dangerous escalation of church-state tensions that could cost him Catholic swing voters.

Trump's Iran war is hitting American wallets hard, and New York's feeling it worst. Gas prices have jumped 62 cents per gallon since the conflict began in February — that's 21% higher and $200 million more out of New Yorkers' pockets. Staten Island's GOP Congresswoman Nicole Malliotakis is highlighting the pain in the city's most car-dependent borough, while Governor Hochul blames Trump's 'illegal tariffs' and war for the spike. The politics are brutal: Republicans hoped tax cuts would insulate them from affordability concerns, but energy costs are wiping out those gains heading into midterms.

Trump's campaigning like it's 2024 again, but the midterm math is brutal. With approval ratings underwater at 45.8% and Republicans defending razor-thin majorities (218-214 House, 53-47 Senate), historical precedent suggests a 28-seat House loss. Democrats have already flipped 28 state legislative seats since Trump's return, with Iowa swinging 20 points and Mississippi losing half its GOP specials. Trump's betting everything on turning out low-propensity voters, but gas prices up 21% since the Iran war started aren't helping his cause. The party that needs perfect turnout is struggling in every off-year race.

Trump can't quit NATO legally, but he's testing every way to hurt it. After European allies refused to help reopen the Strait of Hormuz, Trump tweeted criticism of the alliance and threatened troop withdrawals from 'uncooperative' nations. Legal experts note he can't unilaterally exit thanks to a 2023 law requiring Senate approval, but he can gut the alliance by pulling forces or blocking consensus decisions. European capitals are already accelerating defense independence as Trump hints at his 'next Conquest' post-Iran. The transatlantic relationship isn't breaking — it's bending toward a reality where America's security guarantee comes with increasingly explicit conditions.