Oil prices rose as markets focused on a 60-day deadline under the U.S. War Powers Resolution, which could force President Trump to withdraw American troops from any Iran-related military engagement. The 1973 law requires a president to pull back deployed forces within 60 days of notifying Congress, unless lawmakers vote to authorize continued action. The clock starts from the moment a deployment report is filed with Congress. The tension around Iran is driving the price move. Oil traders watch any potential conflict in or near Iran closely because the country sits along key Gulf shipping routes and is a significant crude producer. A military escalation could disrupt supply from the region. The deadline creates a hard legislative constraint on how long U.S. military action can continue without congressional approval. If Trump does not secure that approval, he would be legally required to begin withdrawing forces. Markets are pricing in the uncertainty around what happens at that threshold and whether Congress acts. The next clear signal will come if and when a formal deployment report is submitted.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
Venezuela's twin earthquakes, magnitudes 7.2 and 7.5, have killed at least 164 people and injured 971, interim president Delcy Rodriguez confirmed Thursday. The quakes are the country's strongest since 1900, collapsing buildings across Caracas and prompting a state of emergency, with the death toll expected to rise as
