Republican Senator Tim Sheehy Pledges to Authorize Trump’s Iran War Authorization Republican Senator Tim Sheehy of Montana said Tuesday that he would support legislation authorizing President Donald Trump’s military actions in Iran. Speaking at the Semafor World Economy event in Washington, D.C., Sheehy stated he would “of course” vote for the measure, calling it a necessary step. He emphasized that the proposed resolution to end the war would not be supported by him, framing the issue as a complex political and military challenge. Sheehy argued that the situation is more intricate than the public has been led to believe, particularly in the context of the ongoing political campaign. “This is a far more complex problem than the average American has been led to believe and spoon-fed, especially these past 43 days,” he said. He added that he believes the Trump campaign is progressing well, though he did not elaborate on the reasons for his confidence. The senator also mentioned that the Trump administration is likely to seek additional funding for the war effort. “That’s where the real debate will happen; it won’t be the authorizations or the resolutions, it’s going to be who’s going to pay to … finish this campaign,” Sheehy predicted. He claimed that only Republicans would support the funding request, highlighting the partisan nature of the debate. Sheehy criticized what he described as unfair criticism of the Trump administration’s military actions. “For all of the negativity that I think is driven by a lot of the political distaste for our president, I think it’s been a very unfair characterization of what our military has executed,” he said. He framed Iran’s decision to close the Strait of Hormuz as a critical escalation, comparing it to a nuclear threat.#strait_of_hormuz #trump_administration #montana #tim_sheehy #semafor_world_economy

India buys first LPG cargo from Iran in years amid Strait of Hormuz disruptions India has reportedly purchased liquified petroleum gas (LPG) from Iran for the first time in several years, following a 30-day sanctions waiver granted by the Trump administration to stabilize energy prices. The move comes as the country faces significant disruptions to energy supplies routed through the Strait of Hormuz, exacerbated by ongoing tensions between the U.S., Israel, and Iran. The tanker carrying the cargo, initially destined for China, is now en route to India’s west coast port of Mangalore. The sanctioned vessel Aurora, transporting Iranian LPG, is expected to arrive at Mangalore today, according to sources cited by Reuters. The cargo was procured through a trader, with payment to be made in Indian rupees. Officials indicated that India is also considering additional purchases of Iranian LPG, highlighting the growing urgency to secure energy supplies amid the crisis. India, the world’s second-largest importer of LPG, is grappling with its worst gas supply crunch in decades. The government has had to cut allocations to industries to prioritize household cooking fuel needs. Last year, the country consumed 33.15 million metric tonnes of LPG, with imports meeting roughly 60% of demand. Most of these imports originated from the Middle East, but the Strait of Hormuz disruptions have severely impacted supply chains. Efforts to clear stranded LPG cargoes in the Strait of Hormuz are underway. Four tankers—Shivalik, Nanda Devi, Pine Gas, and Jag Vasant—have already been moved, while India has begun loading LPG onto empty vessels stuck in the Persian Gulf. These measures aim to mitigate the impact of the supply crisis, which has led to shortages and empty fuel pumps in some regions.#iran #india #strait_of_hormuz #trump_administration #mangalore

Stocks rally, oil prices fall amid talk of Iran ceasefire U.S. stocks rose on Wednesday as global oil prices dipped, reflecting a volatile trading environment shaped by ongoing tensions in the Middle East. Traders and investors reacted to news of a proposed 15-point peace plan from the Trump administration, which sparked early optimism about ending the monthlong conflict with Iran. Initially, futures for the S&P 500 and Nasdaq 100 surged over 1%, but the momentum wavered after reports indicated Iran had rejected the proposal, briefly pulling index futures down and lifting oil prices. Despite the early setback, stocks closed higher, with the S&P 500 up 0.4%, the Nasdaq Composite gaining 0.7%, and the Dow rising 305 points. The Russell 2000, which tracks smaller companies, climbed 1.1%. U.S. crude oil prices also stabilized, falling 1.4% to around $90 per barrel by late afternoon. Since the war began on February 28, West Texas Intermediate crude has surged more than 30%, and the price per barrel has risen 50% year-to-date. International Brent crude prices hovered near breakeven at approximately $102 per barrel, while heating oil, a proxy for jet fuel, dropped 6%. The fluctuating oil prices directly impact consumer costs, with the average nationwide price of unleaded gas reaching $3.98 per gallon, according to AAA data. Analysts noted the market’s eagerness to believe in positive developments, with UBS Global Wealth Management’s Paul Donovan highlighting the focus on the U.S. peace plan over Iran’s dismissals or the limited passage through the Strait of Hormuz. Iran’s response to the proposal included five conditions for ending the war, as reported by Iranian state TV. Meanwhile, Pakistan has offered to mediate talks, with four sources telling NBC News that the country has been relaying messages between the U.S.#pakistan #iran #strait_of_hormuz #trump_administration #us_stock_market

Stock Market Crash Today (April 13, 2026): Nifty50 Opens Below 23,600; BSE Sensex Down Over 1,500 Points as Oil Rises, US-Iran Talks Fail Indian stock market benchmark indices, the Nifty50 and BSE Sensex, plunged in opening trade on Monday, April 13, 2026, as geopolitical tensions escalated following the collapse of US-Iran peace talks and a sharp rise in oil prices. The Nifty50 opened below 23,600, while the BSE Sensex fell over 1,500 points. At 9:16 AM, the Nifty50 was trading at 23,608.45, down 442 points or 1.84%, and the BSE Sensex was at 75,988.32, down 1,562 points or 2.01%. The market downturn was driven by renewed geopolitical uncertainty, with the failure of US-Iran peace talks and President Donald Trump’s announcement of a naval blockade on the Strait of Hormuz. Crude oil prices surged sharply, rising about 8% as both Brent and WTI crude benchmarks climbed above $100 a barrel. Brent crude hit $103, while WTI reached $104, reversing a previous decline that had followed a temporary ceasefire between the two nations. The spike in oil prices intensified fears of disruptions to Middle East energy supplies, a region critical to global oil flows. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, warned that the situation posed significant risks. “With the failure of US-Iran peace talks and Trump’s declaration of a US naval blockade in the Strait of Hormuz, uncertainty and crude prices have spiked,” he said. “Brent at $103 is emerging as another threat to the economy and markets. How this naval blockade, which in effect will be a US blockade of Iran’s blockade, will play out remains to be seen. The ideal strategy in this ultra-uncertain situation is to wait and watch.” The rupee also faced pressure, with analysts predicting renewed volatility.#brent_crude #strait_of_hormuz #geojit_investments #wti_crude #us_iran_talks

Stock Market Reacts to U.S.-Iran Conflict with Sharp Gains The U.S. stock market surged on Monday, April 13, 2026, as investors cautiously anticipated a potential resolution to the escalating tensions between the United States and Iran. The S&P 500 closed up 1.02% at 6,886.24, marking its highest level since the conflict began, while the Nasdaq Composite rose 1.23% to 23,183.74. The Dow Jones Industrial Average gained 0.63% to 48,218.25, recovering from a mid-session decline of over 400 points. The rally was driven by optimism that a deal could be reached, despite the breakdown of weekend negotiations in Islamabad. The market’s rebound was fueled by gains in technology stocks, particularly software companies like Oracle and Palantir Technologies, which rose nearly 13% and over 3%, respectively. These gains helped the S&P 500 recover from its earlier losses since the war began. Analysts noted that the optimism was partly tied to President Donald Trump’s statements, which suggested the U.S. was open to dialogue. Trump had announced a naval blockade of the Strait of Hormuz, a critical waterway for global oil shipments, but emphasized that the U.S. would not block vessels heading to non-Iranian ports. The conflict’s impact on oil prices also influenced investor sentiment. West Texas Intermediate crude oil climbed 2.6% to $99.08 per barrel, while Brent crude surged 4.37% to $99.36. The spike in oil prices raised concerns about economic strain, as higher energy costs could dampen consumer spending and inflation. However, the market’s resilience suggested investors were willing to take on the risk of prolonged conflict. Vice President JD Vance’s departure from Islamabad without a deal highlighted the deepening divide between the U.S. and Iran.#iran #strait_of_hormuz #us_stock_market #oracle #palantir_technologies
Stock Market Rebounds on Iran Peace Talks and Hormuz Blockade US stocks edged higher on Monday as optimism grew over potential peace talks with Iran, despite President Trump’s threats to enforce a US blockade in the Strait of Hormuz. The Dow Jones Industrial Average rose 0.1%, while the S&P 500 gained 0.4% and the Nasdaq Composite surged 0.7%, driven by software stocks and renewed hopes for a Middle East ceasefire. Oil prices dipped slightly below $100 a barrel, easing concerns about inflation and global growth risks. The market’s rebound followed Trump’s announcement that Iran had contacted his administration to discuss a deal. The president had earlier ordered a blockade of the Strait of Hormuz, threatening to destroy Iranian ships obstructing the critical waterway. Iran vowed to retaliate against Persian Gulf ports if its energy infrastructure was targeted. The geopolitical tensions, which had previously pressured oil prices and global markets, appeared to ease as investors weighed the possibility of deescalation. Goldman Sachs (GS) opened earnings season with strong profits, though its shares fell 2% after the report. The bank’s second-highest quarterly profit ever underscored Wall Street’s resilience, but analysts noted that broader market sentiment remained cautious. First-quarter results from major banks like Bank of America (BAC), JPMorgan Chase (JPM), and Morgan Stanley (MS) were expected to follow, with earnings growth projections at 12.6% for the S&P 500. Software stocks led the Nasdaq’s gains, with the iShares software ETF (IGV) surging to its best performance in nearly a year. Companies like Microsoft (MSFT), Oracle (ORCL), and Salesforce (CRM) drove the rally, reversing earlier bearish signals.#us #iran #strait_of_hormuz #delta_air_lines #goldman_sachs

Why Oil and Gas Prices Could Stay High in Europe Even If the Iran War Ends The recent ceasefire between the United States and Iran has not yet led to a significant drop in energy prices across Europe, despite the end of hostilities. Analysts warn that the region’s reliance on global energy markets and the lingering effects of supply disruptions mean high prices are likely to persist for months, if not years. The International Energy Agency (IEA) highlights that the strikes on Gulf oil infrastructure caused the largest supply disruption in global oil history, with long-term consequences for both gas and crude oil markets. While the Strait of Hormuz, a critical chokepoint for global oil shipments, was reopened as part of the ceasefire, Europe’s energy prices remain elevated due to a combination of factors, including reduced production, damaged infrastructure, and ongoing uncertainty. Europe’s energy dependence on global markets is a key driver of its current situation. Although the region sources only a small fraction of its oil and gas directly through the Strait of Hormuz—around 4% of its daily needs, compared to the EU’s total requirement of 13 million barrels per day—the closure of the strait during the conflict disrupted global supply chains. The IEA notes that nearly 15 million barrels of crude oil passed through the strait daily in 2025, with the Gulf’s production cuts and damaged facilities contributing to a 10% reduction in global oil supply. Even with the ceasefire, the IEA estimates that Gulf countries have cut production by at least 10 million barrels per day, exacerbating supply shortages. The impact on European energy prices is evident in both oil and gas markets.#iran_war #strait_of_hormuz #international_energy_agency #gulf_oil_infrastructure #qatar_ras_laffan

EU Plans Emergency State Aid Rule Change to Address Soaring Energy Costs The European Union will release a proposal this month to ease state aid rules as part of measures to help member countries manage the energy crisis linked to the war, European Commission President Ursula von der Leyen said Monday. The move follows U.S. President Donald Trump’s announcement Sunday that the United States would blockade the Strait of Hormuz after peace talks with Iran collapsed. The closure of the Strait of Hormuz, a critical route for a fifth of global energy trade, has driven energy prices higher and raised concerns about supply disruptions. Von der Leyen noted that the war has added €22 billion to the EU’s energy bill since its start. EU governments have been seeking changes to state aid rules to address the financial strain caused by the surge in energy costs. The Commission will consult member states this week on potential adjustments to these rules. Other planned measures include a "toolkit" to be released on April 22, which will outline strategies for filling gas storage facilities, guidelines for temporary tax reductions on energy bills, and methods to reduce energy demand. Von der Leyen mentioned that demand-reduction efforts could involve building renovations and industrial equipment upgrades. The Commission is also accelerating work on the EU grids package, a plan to modernize and expand the bloc’s electricity network. Von der Leyen urged lawmakers and member states to finalize this package by summer, framing electrification of the economy as a long-term solution to rising oil and gas costs. She emphasized that the plan aims to strengthen energy resilience while reducing fossil fuel reliance.#strait_of_hormuz #ursula_von_der_leyen #european_union #eu_commission #emissions_trading_system

Iran War: Trump’s Hormuz Blockade Tests U.S. Ties with China and India The U.S. blockade of the Strait of Hormuz has intensified diplomatic tensions with two key Asian allies—China and India—as Washington’s maximum pressure campaign on Iran risks destabilizing fragile relationships. The move, which has disrupted global oil flows, has exposed vulnerabilities in both nations’ energy dependencies while raising concerns about potential miscalculations that could escalate into a crisis. The blockade, part of President Donald Trump’s broader strategy to pressure Iran, has had a dual impact. While it aims to cripple Tehran’s economy by cutting off oil exports, it has also created ripple effects across Asia. China, which relies heavily on Iranian oil, has faced criticism for its stance, while India, a major importer of Middle Eastern energy, has found itself caught between U.S. policy and its own economic interests. China’s exposure to the crisis remains more manageable than that of other major economies. With roughly 98% of Iranian oil exports bound for Beijing, the nation’s vast oil reserves and diversified energy mix have provided a buffer. Maritime intelligence firm Windward estimates that over 157.7 million barrels of Iranian crude were en route to China as of Tuesday, underscoring the scale of the disruption. Analysts note that China’s strategic stockpiles, combined with barrels in transit, cover more than 120 days of net imports. This allows the country to absorb the shock by shifting to alternative sources like coal, according to Dan Wang of Eurasia Group. However, the U.S. Treasury Secretary, Scott Bessent, accused China of being an “unreliable global partner,” criticizing Beijing for hoarding oil supplies instead of easing the global energy crunch.#donald_trump #china #strait_of_hormuz #scott_bessent #guo_jiakun
Why Are Some Ships Still Passing Through the Strait of Hormuz During the US Blockade? The United States has declared its blockade of Iranian ports as fully implemented, effectively halting most of Tehran’s economic activity within days. Admiral Brad Cooper, head of US Central Command (CENTCOM), stated that the blockade has stopped nearly all international trade by sea, citing that 90% of Iran’s economy relies on maritime commerce. According to CENTCOM, no vessels have bypassed the blockade since its enforcement, though reports suggest some commercial traffic is still transiting the Strait of Hormuz. This strategic waterway, which connects the Persian Gulf to the Arabian Sea, remains a critical route for 20% of global oil exports and 80% of Iran’s oil shipments. The confusion arises from the legal and operational boundaries of the blockade. While the US has targeted Iranian ports—both inside and outside the Strait—international waterways like the Hormuz are not subject to unilateral blockades under maritime law. This means ships not directly linked to Iran’s economy may still pass through the strait. Additionally, US forces have the capability to intercept vessels carrying Iranian-linked cargo even after they leave the region. For example, oil tankers have been seized in the Indian Ocean, thousands of miles from their origin, demonstrating the reach of the enforcement effort. Analysts emphasize that modern technology allows the US to monitor and intercept ships at great distances. Former Navy Captain Carl Schuster noted that the 12+ warships involved in the blockade are largely stationed far from the strait, equipped with advanced tracking and reconnaissance systems.#iran #strait_of_hormuz #us_central_command #us_navy #institute_for_the_study_of_war

Trump’s own actions against Powell and the Fed are working against him President Donald Trump’s repeated attempts to pressure the Federal Reserve and its chair, Jerome Powell, have inadvertently stalled his efforts to secure rate cuts and remove Powell from his position. Despite years of public criticism and threats, Trump’s policies and legal maneuvers have instead emboldened Fed officials to delay any easing of interest rates, citing ongoing economic uncertainties. The central bank’s cautious stance is tied to a combination of Trump’s trade wars, the escalating US-Israeli conflict with Iran, and the legal battles surrounding Trump’s efforts to oust key Fed officials. Trump’s aggressive tariff policies, introduced during his second term, have contributed to persistent inflation. The administration’s decision to impose broad tariffs on imports, coupled with its refusal to abandon the policy despite a Supreme Court ruling that invalidated some of the measures, has created a patchwork of trade restrictions. These tariffs have raised costs for consumers and businesses, prompting the Fed to adopt a wait-and-see approach. Fed officials initially held off on rate cuts in late 2025, citing the need to monitor inflation trends, and now face renewed uncertainty due to the Iran conflict. The war between the US, Israel, and Iran, which began in late February 2026, has had a dramatic impact on global markets. The closure of the Strait of Hormuz, a critical oil shipping route, disrupted supply chains and drove up energy prices. The conflict led to a threefold spike in US inflation in March 2026, according to the latest Consumer Price Index report. Fed Chair Powell had previously suggested the war’s effects would be temporary, but as of April 2026, the strait remains partially blocked, and the Fed has delayed any rate cuts.#trump #strait_of_hormuz #federal_reserve #iran_conflict #jerome_powell
