Democratic Rep. Sam Liccardo has launched a congressional probe into suspicious oil market trades that occurred during the recent U.S.-Iran military conflict, according to reporting on the inquiry. The timing of the trades, executed during a period of acute geopolitical volatility, drew scrutiny from both lawmakers and regulators, suggesting the concern is not confined to a single chamber or party. Liccardo's probe follows a pattern of post-conflict financial oversight in which trades placed ahead of or during hostilities are examined for potential insider information or market manipulation. Oil markets are acutely sensitive to Iran-related news given Tehran's role as a significant producer and the strategic importance of the Strait of Hormuz to global supply routes. Whether the probe leads to formal referrals to the SEC, CFTC, or Department of Justice will determine its practical consequence. Investors and trading desks with Iran-linked exposure should monitor whether additional lawmakers join the inquiry, which would signal broader institutional momentum toward enforcement action.
India's Expenditure Finance Committee has cleared a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, up 64 percent from ISM 1.0's Rs 76,000 crore. The proposal now goes to the Cabinet, as two chip plants begin commercial output and a third, CG Semi, is set to open July 4, 2026.
The Supreme Court blocked Trump from firing Federal Reserve board member Lisa Cook, preserving the Fed's independence from presidential removal power. A separate ruling the same day gave Trump broader authority to dismiss leaders of other independent federal agencies.
The US Supreme Court has blocked President Trump's attempt to fire Federal Reserve governor Lisa Cook, who faced unproven mortgage fraud allegations. The ruling preserves Fed independence for now and keeps a politically charged removal case alive in the courts.
The US Supreme Court, splitting along ideological lines, has allowed the Trump administration to end Temporary Protected Status for Haitian and Syrian immigrants.
