Donald Trump

June 18 (UPI) — President Donald Trump said Thursday that Apple is partnering with Intel to design computer chips that will be manufactured in the United States.

The U.S. government took a 10% stake in Intel last year, investing $8.9 billion in its stock as it sought to boost its manufacturing capabilities in the United States.

“I decided to help Intel because we need to design and build our Chips right here in America,” Trump posted on social media.

Premarket trading of Intel stock jumped by more than 9% on Thursday.

Apple, based in California, currently produces a majority of its processors for devices like the iPhone, iPad and Mac computer in Taiwan.

Computer chips are becoming more and more crucial to the U.S. and global economy due to the demand for processing power, memory and storage chips from artificial intelligence.

Tim Cook, CEO of Apple, said the company’s efforts to “mitigate the huge increases that are being passed to us,” as well as “shield our customers from the increases.”

“But the situation has become unsustainable,” Cook told the Wall Street Journal earlier this week, noting that price hikes on Apple products are “unavoidable.”

The Democratic Socialist has vowed aggressive response to Trump, who has said he could ‘take back’ DC if she wins.

Washington, DC – Janeese Lewis George, a Democratic Socialist who has promised an aggressive approach to United States President Donald Trump, is on track to become the next mayor of Washington, DC.

Lewis George already had a commanding lead after Tuesday’s Democratic primary. Her top competitor, Kenyan McDuffie, conceded on Thursday, all but assuring her victory.

Washington, DC, trends heavily Democratic, with the primary winner likely to win the general election in November. There is no Republican challenger for the post, although independent and third-party candidates can mount challenges.

Lewis George, a council member and former prosecutor, had garnered labour groups’ support as she vowed to set clear boundaries with the Trump administration, including ending cooperation between local police and Immigration and Customs Enforcement agents. Her victory would make her the first member of the Democratic Socialists of America, to which NYC Mayor Zohran Mamdani and Congressmember Alexandria Ocasio-Cortez also belong, to lead Washington, DC.

Her competitor, McDuffie, a former councilmember, had gained support among DC’s business community and pitched himself as a moderate. His style hewed close to that of current Mayor Muriel Bowser, who has walked a careful line between criticism and cooperation with Trump.

For his part, the US president has made his preference clear, floating that he might “take back Washington and run it on the federal basis” if Lewis George became mayor.

Washington, DC, is a federal district, giving the White House and Congress outsized influence. However, under a 1973 law, the district has so-called “home-rule”, allowing residents to elect the mayor, council members and neighbourhood commissioners to run daily affairs.

Advocates have long called for the district, with a population of more than 700,000, to become a state. Both Lewis George and McDuffie support DC statehood.

Since taking office in January of last year, Trump has repeatedly threatened to assert more control over the district.

He briefly federalised the city’s police department in August of last year, claiming a crime emergency, surged federal immigration enforcement in the district, and deployed the National Guard as part of a “beautification” project.

Responding to Trump’s threats ahead of Tuesday’s vote, Lewis George said a strong response was needed.

“We are not going to get ICE off our streets or protect Home Rule by fearing this President,” she said.

“Threatening DC because you do not like how our residents vote is an attack on democracy itself. The people of DC elect the Mayor of DC. And they want someone who will stand up to Trump,” she said.

The money-saving expert said earlier in the week that he expected energy prices to drop soon in some rare ‘good news’ for hard-pressed Brits

Martin Lewis says that energy deals are already becoming more affordable following an agreement between the US and Iran. The money-saving expert stated earlier this week that he anticipated prices would fall soon in some rare ‘good news’ for financially stretched British households concerning energy costs.

This followed an announcement of an accord between the US and Iran to cease hostilities and reopen the crucial Strait of Hormuz. The memorandum of understanding, which is now active, was signed on Wednesday by Donald Trump and Iranian president Masoud Pezeshkian.

This has seen the cost of oil and natural gas decline, resulting in a reduction in energy prices. At the time of writing, Brent crude has fallen by approximately $7 a barrel and UK natural gas by roughly 14 per cent.

Mr Lewis confirmed that fixed energy deals were already being made available that were around 5 per cent more affordable. He stated: “Energy fixes have started to get cheaper, now 5% below April price cap.”

However, Mr Lewis cautioned earlier this week that people shouldn’t anticipate a substantial reduction in the next price cap, which runs from October to December.

The next price cap is expected to be announced on August 26 by energy regulator Ofgem. Approximately 60 per cent of households in England, Scotland, and Wales remain on a standard variable tariff, meaning their costs are governed by the price cap.

The current energy price cap is due to increase on July 1 by 13 per cent. This means that a home with typical energy consumption paying by direct debit will face charges of £1,862 annually.

That marks a rise of £221 compared to the previous price cap – and Mr Lewis cautioned it could climb even higher, despite the cessation of hostilities.

He stated: “The US and Iran signing a framework deal has pushed natural gas prices down. These wholesale prices are a key driver of UK gas and electricity bills. As the six-month graph shows, though, prices still have a long way to fall before returning to pre-conflict levels.

“The good news is that this could lead to slightly cheaper fixed tariffs being launched in the coming days. However, without substantial further drops the October price cap still looks likely to be significantly higher than it is today.”

He was subsequently questioned about why he believed the price cap would increase from October. He responded: “It’s the same reason the energy Price Cap HASN’T yet risen due to the Middle East crisis. It is time-lagged. So slow to rise, slow to fall.”

The Senate has confirmed Michelle Steel, a former two-term Korean American congresswoman, as the United States’ ambassador to South Korea.

The upper chamber approved Steel in a 55-39 vote on Wednesday (U.S. time), clearing the way for her to take the ambassadorial post as Seoul and Washington face a series of joint tasks, including “modernizing” their alliance and implementing bilateral security and trade agreements.

In April, U.S. President Donald Trump nominated her for the ambassador post, which has been left vacant since former Ambassador Philip Goldberg left Korea in January last year.

Steel would become the second Korean American to serve as the U.S.’ top envoy to South Korea, following former Ambassador Sung Kim, who served in Seoul as ambassador from 2011-2014.

The South Korean government granted agrement on Thursday, the host country’s prior consent for the appointment of a foreign envoy, for Steel’s appointment, according to Seoul’s foreign ministry.

With administrative procedures on both sides effectively completed, observers say Steel is likely to take up her post no later than next month.

“The exact timing of her arrival will depend on remaining U.S. procedures, including the issuance of her credentials by U.S. President Donald Trump,” a ministry official said. “We expect Steel to contribute to strengthening the alliance between the two countries once she formally assumes her post.”

During her confirmation hearing last month, she vowed to ensure that American companies operating in South Korea are not discriminated against, if she is confirmed.

While in Congress, Steel was active in pushing for legislation to address the issue of Korean Americans who have been separated from their relatives in North Korea in the wake of the 1950-53 Korean War.

She was first elected to the House in 2020 and then reelected in 2022. She lost to her Democratic rival by a small margin in the 2024 general election.

She previously served as a member of the Orange County Board of Supervisors and the California State Board of Equalization.

Her husband is Shawn Steel, an attorney who served as the California Republican Party chairman from 2001 to 2003. He has been the Republican national committeeman from California since 2008.

Born in Seoul in June 1955, Steel grew up and studied in South Korea, Japan and the U.S. She speaks fluent Korean.

She earned a bachelor’s degree from Pepperdine University in Malibu, California, and an MBA from the University of Southern California in Los Angeles.

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Oil fell sharply in early trading after US President Donald Trump and his Iranian counterpart, Masoud Pezeshkian, put their names to an initial accord to halt hostilities, a move expected to restore the flow of crude through the Strait of Hormuz, one of the world’s most important shipping arteries.

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At the time of writing on Thursday morning, the front-month contract on WTI, the US benchmark, was down by 2.3% to $75 a barrel, while Brent crude, the international gauge, traded 2% lower at around $78 a barrel.

Both remain above the roughly $70 level seen before the conflict, but they have fallen well below the peaks of more than $100 reached only weeks ago.

The deal sets a 60-day window for the two sides to negotiate a final settlement on Iran’s nuclear programme, with Tehran agreeing in the interim to dilute its stockpile of highly enriched uranium.

Crucially for energy markets, it lifts US-backed sanctions, allowing Iran to resume selling its oil freely, and clears the way for tankers to move crude out of the Persian Gulf once more.

US President Donald Trump has said the strait will be fully open by Friday and operate without transit charges, a pledge that has encouraged traders to bet on easing supply pressures.

After signing the memorandum of understanding, Trump stated, “oil down, stocks up”, with hand motions.

An oil market still running on depleted reserves

The optimism arrives against a strained backdrop.

In its June Oil Market Report, the International Energy Agency said strategic oil reserves across advanced economies had slipped to their lowest level since 1990, with government stockpiles in OECD countries down by 163 million barrels since the conflict began as emergency releases accelerated.

The agency also trimmed its outlook for global demand, which it now expects to contract through 2026 as elevated fuel prices and supply disruptions bite, before recovering next year.

It cautioned that any rebound in supply may be gradual, citing the slow clearance of mines and continued disruption to shipping routes even with the interim deal in place.

Flows through the Strait of Hormuz had already begun to recover, rising from a May low to around 12 million barrels a day in early June.

Stocks mixed after the Fed signals possible hikes

Equities offered a patchier picture following Wednesday’s losses on Wall Street, where the S&P 500 fell 1.2% after fresh Fed projections showed nearly half of policymakers expect at least one interest rate hike this year.

The Dow Jones Industrial Average shed 1%, and the Nasdaq Composite slid 1.3%.

In his first press conference as Fed chair, Kevin Warsh declined to forecast where rates would end the year and signalled a rethink of how the central bank communicates, dropping the customary hints about future policy direction from its statement.

US President Donald Trump, who had long pressed Warsh’s predecessor to cut rates, was unusually relaxed about the outcome.

“It’s all right. Whatever,” Trump told reporters in France as he attended the G7 meeting.

Asked about the prospect of a hike, he said it was “hard to believe” but that, with Warsh now in place, he was “guided by what he wants.”

US stock futures pointed higher early on Thursday, with contracts on the S&P 500 up 0.9% and on the Nasdaq Composite around 1.4% higher.

In Asia, Tokyo’s Nikkei 225 and South Korea’s Kospi both jumped 2.3%, helped by hopes for an end to the Iran war and strong demand for technology shares.

European trading was more subdued, with the Euro Stoxx 50 rising 1% but the broader pan-European Stoxx 600 trading flat.

The UK’s FTSE 100, Germany’s DAX 30, Italy’s FTSE MIB, Spain’s IBEX 35, the Netherlands’ AEX, and Switzerland’s CH20 all traded between 0.4% and 0.8% higher than their Wednesday close.

France’s CAC 40 led the pack and jumped roughly 1.3%.

Additional sources • AP

Israeli Prime Minister Benjamin Netanyahu is facing mounting pressure after he was cut out of the US-Iran agreement. Crucially, the Memorandum of Understanding includes Israel’s war on Lebanon. Al Jazeera’s Nour Odeh explains.

Israel may ‘symbolically’ pull back its troops from southern Lebanon after the US and Iran signed a peace deal which included an end to Israel’s war on Lebanon, according to analyst Rami Khouri. But he attests, real policy change will only happen when the US forces Israel’s hand.

June 17 (UPI) — Shortly after President Donald Trump rescinded his endorsement of Jackson Lahmeyer, a Republican candidate for the House of Representatives from Oklahoma, Lahmeyer dropped out of the race, saying he didn’t want to be “a distraction.”

“After prayerful consideration with my wife, Kendra, and my team over the past 24 hours, I’ve made the difficult decision to suspend my campaign for Congress,” Lahmeyer said in a statement, CNN reported. “I do not want to be a distraction to my family, my church and the great people of Oklahoma’s 1st Congressional District, who deserve a strong conservative voice representing them in Congress.”

Trump endorsed Lahmeyer, a right-wing megachurch pastor and founder for Pastors for Trump, before Tuesday’s primary, after which the candidate was expected to advance to a runoff for the Republican nomination against Rep. Mark Tedford.

On Sunday, however, The Daily Mail published texts between Lahmeyer and a former Miss Oklahoma pageant winner in which the candidate called her “cute” and mentioned an invitation to his hotel room, The New York Times reported. Lahmeyer acknowledged sending the messages but said they were “carefully cherry-picked,” the Times said.

Trump previously called Lahmeyer a “MAGA Warrior,” saying, “Jackson Lahmeyer has my Complete and Total Endorsement to be the next Representative from Oklahoma’s 1st Congressional District — HE WILL NEVER LET YOU DOWN!” But in a social media post on Wednesday, he threw his support behind Tedford.

“I greatly appreciate Jackson Lahmeyer’s hard work under difficult circumstances — he has always been with me, and I will always be wit hhim,” Trump wrote. “But, when it comes to the current Congressional race for Oklahoma’s 1st Congressional District, I will be supporting America First Patriot, Mark Tedford. Mark is Pro Trump and MAGA all the way!”

“HE WILL NEVER LET YOU DOWN!” Trump added.

Tedford and Lahmeyer had been running to succeed Rep. Kevin Hern, who is running for Senate. Tedford received 32% of the vote Tuesday while Lahmeyer received 25%. Both did not receive the majority needed to advance directly to the general election. The district heavily favors Republican candidates.

Brent crude drops as much as 1.6 percent, while key stock indices in Japan, South Korea and Taiwan climb.

Oil prices have dropped following the United States and Iran’s signing of an interim peace agreement, resuming a slide interrupted by US President Donald Trump’s warning that he could restart his military campaign.

Brent crude fell as much as 1.6 percent on Thursday morning in Asia, returning the international benchmark to almost exactly where it was 24 hours previously.

Brent futures for delivery in August stood at $78.23 as of 04:00 GMT, only about 7 percent higher than before the US and Israel launched their war on Iran on February 28.

After several days of declines, Brent briefly spiked above $81 a barrel on Wednesday after Trump warned that the US could “go right back to dropping bombs” on Iran if it doesn’t “behave”.

Asian stock markets rallied on Thursday on renewed optimism for an end to nearly four months of disruption to global energy supply chains.

Japan’s benchmark Nikkei 225 and South Korea’s Kospi both hit all-time highs, gaining 1.8 percent and 1.4 percent, respectively.

Taiwan’s Taiex rose as much as 1.3 percent.

Hong Kong’s Hang Seng Index bucked the trend, dropping 1.7 percent.

US stock futures, which are traded outside of regular market hours and often foreshadow the next day’s performance, climbed, with those tied to the benchmark S&P 500 and the tech-heavy Nasdaq Composite climbing about 0.8 percent and 1.3 percent, respectively.

Pakistani Prime Minister Shehbaz Sharif, who mediated the negotiations between Washington and Tehran, said on Wednesday that the US-Iran memorandum of understanding (MoU) had entered into force with “immediate effect”.

Sharif said Iran would “instantly reopen” the Strait of Hormuz and the US would “immediately” lift its naval blockade of Iranian ports, though it was not immediately clear if the announcement had any effect on boosting maritime traffic in the critical waterway.

Shipping in the strait has been reduced to a fraction of peacetime levels due to the threat of Iranian missiles, drones and mines, as well as the US blockade.

While more than 500 vessels are estimated to be waiting to exit the Gulf through the strait, shipping companies have expressed concern about the lack of clarity on how to ensure the safety of their vessels and crews in the channel.

In a statement earlier this week, the Baltic and International Maritime Council (BIMCO), one of the world’s largest associations for shipowners, said the US and Iran had yet to provide information about “key aspects such as timings and safe routes”.

“Due to lack of details and a history of overly optimistic reassurances, we believe the security situation for the shipping industry remains volatile, and we still consider it very risky for ships to commence transits at this point,” Jakob Larsen, chief safety and security officer at BIMCO, said in a statement on Monday, responding to the initial announcement of the MoU.

“We advise shipowners to continue doing thorough risk assessments and appeal to all parties to put the safety of seafarers first.”

June 17 (UPI) — Israel carried out strikes on Lebanon on Wednesday as leaders prepared to sign the Iran-United States cease-fire Friday.

President Donald Trump criticized the attacks at a press conference Wednesday at the G7 Summit in Évian-les-Bains, France.

Israel and Hezbollah have attacked each other since their own cease-fire agreement was signed Sunday.

Israeli President Benjamin Netanyahu said Monday that the Israeli military would stay in Lebanon “for as long as necessary,” the BBC reported.

On Tuesday, Lebanese media reported that four people were killed in Israeli attacks, and Iran warned Israel that it would deliver a “harsh response” if it didn’t end its “malice” in Lebanon.

Naim Qasem, leader of Hezbollah, said in a televised statement on Wednesday that the memorandum of understanding between the United States and Iran was a “great victory.” He urged Lebanon to focus on restoring sovereignty with the withdrawal of Israeli troops from the country.

Lebanese President Joseph Aoun said he would work for an “independent path” when negotiating with Israel, but said he is “in favor of a cease-fire and welcome the support of any country that helps us, including Iran,” the BBC reported.

There has been a dip in violence since the MOU was announced, but attacks have not stopped, Al Jazeera reported.

Reporters on the ground reported that Israeli forces carried out an airstrike near Kfar Tebnit in the Nabatieh district. They also launched raids on the town of Nabatieh al-Fawqa and shelled the Ali al-Taher heights and the outskirts of the town.

Hezbollah launched at least 10 rockets toward Israeli forces near Kfar Tebnit. The Israeli army said ⁠an ⁠explosive Hezbollah drone detonated near ⁠its troops ⁠in southern Lebanon, wounding four of them, Al Jazeera said.

The Israeli army said that minutes later, another drone exploded and injured one more soldier.

On Tuesday, Israeli attacks killed at least four in Nabatieh, including in drone strikes on several vehicles, Al Jazeera said.

Trump’s remarks in France show his frustration with Netanyahu’s unwillingness to stop fighting.

“I think they could do better with respect to Hezbollah. I am not saying they should not protect themselves. I am saying when two drones are shot into the desert and dropped harmlessly, you do not have to knock down buildings in Beirut,” Trump said. “They could behave better and, frankly, they could do a better job.”

June 17 (UPI) — U.S President Donald Trump signed an agreement with Iran at the Palace of Versailles on Wednesday night while in France for the G7 Summit,

The United States sent an image of the signed agreement to the Iranians, officials said. Dan Scavino, White House deputy chief of staff, later posted a video of the signing on social media.

Earlier, the United States government released the text of the agreement, several days after the agreement was reached. The agreement was expected to be signed Friday in Switzerland.

It includes 14 points, including “the immediate and permanent termination of military operation on all fronts” — including Lebanon, where Israel continued to carry out strikes as of earlier Wednesday — provisions for reopening the Strait of Hormuz and measures for easing financial restrictions on Iran. It also offers expectations for addressing Iran’s nuclear program in future talks. CNN reported the text of the agreement, which was read out loud by an official.

Earlier Wednesday at a press conference in France, Trump had said that if Iran doesn’t abide by the memorandum of understanding, the United States may bomb the country.

The press conference lasted more than an hour, with Secretary of State Marco Rubio and Commerce Secretary Howard Lutnick standing behind him.

Trump made the remark in his opening statement.

“If they don’t honor that, we’ll probably go back to bombing them until they honor it, you know?” he said. “It’s amazing what bombs can do.”

The president called the MOU the “Trump deal,” and said that the deal says Iran will never have a nuclear weapon, and the Strait of Hormuz will reopen.

He also said that if an agreement hadn’t been reached with Iran, the United States could have continued the war.

“If we didn’t do this deal, we could have dropped more bombs for another three weeks, two weeks, four weeks, two years,” Trump said.

The president also defended releasing Iranian frozen assets.

“We have taken a lot of their money,” Trump said. “We have taken their money; it’s not our money, it’s their money, and we froze it at a certain point in time. I guess we’re going to have to give it back.

“As far as sanctions are concerned, at some point, you know, we have sanctions, which will never let them rebuild. They would have no money. They would be in poverty.”

Trump has said the United States won’t give any money to Iran, but he defended allowing Iran access to its own frozen funds.

“We’re not doing anything; we’re not putting up money, only if they’re doing things right. If they’re doing things right, if people want to invest, they can invest, but they had this $300 million fund. It’s only $300 million fund; it’s only if they’re doing things right,” CNN reported Trump said.

A reporter asked if the president would hold anyone in the administration responsible for the bombing of an elementary school for girls in Iran in late February, and he replied that it was under investigation. The strike killed more than 170 people, mostly children.

Trump responded that it was a “strange question” and said, “You’re talking about a long time ago.”

“But nobody did that on purpose,” Trump said. “I guess you’d have to say about them, what about the thousands of soldiers that they blew up when they opened their car door? What about the thousands of people that were killed by Iran? No, mistakes are made, war is nasty, but I know it’s under investigation.”

Trump also offered a rare criticism of Israel, saying it could do better in its conflict with Lebanon.

“I think they could do better with respect to Hezbollah. I am not saying they should not protect themselves. I am saying when two drones are shot into the desert and dropped harmlessly, you do not have to knock down buildings in Beirut,” Trump said.

“They could behave better and, frankly, they could do a better job.”

“On that, I don’t think they’re doing well, and I feel very bad for Lebanon,” he said. “Lebanon’s been, you know, it was a great culture. It was a great, they had the professors, the doctors, the lawyers, it was an incredible culture, maybe the highest in the Middle East for years and years, centuries. And for the last 50 [to] 60 years, they have been just trashed. They have been, they have been living in hell.”

Iran’s Ministry of Foreign Affairs spokesperson, Esmaeil Baghaei, has announced that a memorandum of understanding with the United States has been finalised and signed electronically by both sides.

He added that the agreement has already gone into effect.

“The text of the Islamabad Memorandum of Understanding was finalised with the signatures of the presidents,” Baghaei told the news agency IRNA. “Now it is time to test the implementation of the agreement.”

Wednesday’s statement appears to confirm that the US and Iran have agreed to suspend military operations, paving the way for further negotiations.

Given that both sides signed the agreement electronically, Baghaei noted that there would be no signing ceremony on Friday in Geneva, Switzerland, as had previously been expected.

Negotiating teams, however, still plan to be in the Swiss city. A decision on a possible in-person meeting between them is expected in the coming hours, though for now such plans are paused, according to Baghaei.

While the office of US President Donald Trump has yet to issue a formal statement on the signing, Al Jazeera correspondent Mike Hanna explained that a White House spokesperson confirmed earlier in the day that it happened.

But Hanna warned that the memorandum is likely to face domestic backlash in the US, where Trump had been under right-wing pressure to take a hard line against Iran.

“There’s a great deal of dissatisfaction with the memorandum of understanding, as it has been outlined to the public at this particular point, even among some Republicans who have expressed the concern that Iran is being treated leniently,” Hanna said.

He also emphasised the administration’s position that the memorandum is not a full-fledged deal but rather a prelude to more negotiations.

“The administration is fighting hard to persuade the American public and American politicians that this is not a defeat for the United States,” Hanna said.

Since February 28, the US and Israel have been jointly engaged in a war against Iran, though a temporary ceasefire suspended much of the most intense fighting on April 8.

Trump has repeatedly said his goal in launching the war was to prevent Iran from acquiring a nuclear weapon.

Since the memorandum was revealed, he has highlighted the document’s assurances that Iran will not seek a nuclear weapon, though Tehran has long denied any intention of doing so.

But according to a US account, the memo goes beyond the question of nuclear weapons. It sets up a 60-day timeline for a final deal to be struck, and it indicates that the US will rally “regional partners” to create a $300bn for Iran’s reconstruction.

US sanctions would also work towards lifting its sanctions against Iran, and the country would issue waivers for the export of Iranian fuel.

Iran has touted those terms as a victory. On Wednesday, chief negotiator Mohammad Bagher Ghalibaf told Fars, an Iranian state news agency, that the US had failed to achieve its goals with Iran and pointed to the memo as proof.

“The agreement is a record of US failure,” Ghalibaf said. “People will see it and judge.”

He also explained that the Strait of Hormuz would not return to “pre-war conditions” after the 60-day period for negotiations stipulated in the agreement. He suggested that Iran will expect payments for use of the waterway.

“I emphasise again that the Strait of Hormuz will never return to the previous conditions,” Ghalibaf said.

“Iran has the right to sovereignty over the Strait of Hormuz, and of course, we will receive a fee for services.”

That position is likely to put pressure on the Trump administration, which had pledged that the strait, a key waterway for trade, would be “permanently toll-free”.

Since the start of the war, Iran has blocked the waterway, sending global prices for fuel, fertiliser and other goods soaring.

The US had responded with its own blockade of Iranian ports, though that effort is slated to end under the memorandum.

Both sides, however, have emphasised that the memorandum of understanding is not a final agreement on all issues of dispute. More negotiations are expected to resolve lasting impasses.

“It will only become a deal, as such, at the end of the 60-day negotiation period. At least, that’s the intention,” Hanna reported.

Trump says plan to keep controversial acting DNI head, Bill Pulte, in role as he pushes for surveillance, voter ID law.

United States President Donald Trump has delayed the confirmation of his nominee for director of national intelligence (DNI), while calling for lawmakers to pass legislation on surveillance and voter identification requirements.

Trump made the announcement in a Truth Social post on Wednesday, saying he planned to keep acting DNI Bill Pulte in the role and postpone the confirmation of his nominee, Jay Clayton.

Clayton had been scheduled to appear for a Senate confirmation hearing on Wednesday afternoon before Trump forced the delay by directing him to not appear.

The president cited his desire to pressure Democrats to pass a controversial surveillance law and a measure requiring voter identification, as well as his wish not to remove Clayton from his post as federal prosecutor until his replacement was confirmed.

“In the meantime, Bill Pulte will remain as the Acting Director of National Intelligence,” Trump said.

The US president’s nomination last week of Clayton had been a welcome relief to many lawmakers, including prominent Republicans, who raised concerns about Pulte and his lack of experience.

A Trump loyalist and housing official, Pulte had never held intelligence or military positions. The DNI oversees Washington’s 18-agency intelligence community.

Clayton, in contrast, currently serves in what is considered one of the Department of Justice’s most prestigious posts: He works as the US attorney for the southern district of New York in Manhattan.

The DNI vacancy emerged after Tulsi Gabbard announced her resignation in May, citing her husband’s cancer treatment.

FISA and voter identification

Clayton’s confirmation was meant to be fast-tracked to win Democrats’ support for a controversial provision of the Foreign Intelligence Surveillance Act, which is currently up for renewal.

Section 702 of the law allows spy agencies to collect the communications of targeted foreigners located outside the US without first acquiring a warrant. Civil rights advocates have condemned the tool, saying it exposes US citizens to the government indirectly collecting their data.

Democrats had pledged not to renew the provision if Pulte remained in his role.

In his post, Trump maintained that Clayton could be confirmed before the vote on FISA, giving Democrats the opportunity to change their position.

Trump also added another condition, saying he would not approve FISA without lawmakers also passing a law requiring voter IDs in US elections. The legislation has been a key priority for Trump in advance of the midterm elections in November, but he has not been able to overcome a 60-vote threshold in the Senate.

“Therefore, to add a slight bit of intrigue but, for the Good of the Nation, and the People of our Country, I will not approve FISA without THE SAVE AMERICA ACT going along with it,” Trump said in his Truth Social post.

Despite the statements, Republican Senator Tom Cotton, the chairman of the Senate Intelligence Committee, initially said he would proceed with Clayton’s confirmation hearing on Wednesday unless Trump withdrew his nomination or ordered him not to appear.

Trump ultimately did direct Clayton to skip the hearing. That, in turn, forced Cotton to postpone the hearing. Afterwards, the senator issued a statement expressing regret at the circumstances.

“It’s regrettable that the president has directed Jay Clayton not to appear at his confirmation hearing today,” Cotton said in a statement.

“Mr. Clayton is a patriot and a highly qualified nominee, as the president has said repeatedly. While today’s hearing is now unfortunately postponed, I look forward to proceeding with his confirmation in the near future.”

Democrats, meanwhile, described the situation as chaotic.

“At every turn, the president has injected more uncertainty into a process that should be focused on one thing: keeping the American people safe,” Senator Mark Warner said in a statement.

“The president’s latest intervention only underscores a simple reality: the biggest obstacle to resolving these issues has not been Senate Democrats or Senate Republicans. It has been the chaos and confusion coming from the White House itself.”

Published on
17/06/2026 – 12:55 GMT+2

The era of Chair Warsh begins in earnest this Wednesday, as US President Donald Trump’s pick to run the Fed presides over his debut rate decision and steps before the cameras for his first press conference in the role.

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Few economists anticipate dramatic action on day one, but the meeting carries unusual weight for what it might reveal about the months ahead.

Policymakers are expected to hold the benchmark rate steady at a target range of 3.50% to 3.75%, which would mark the fourth consecutive meeting without a move. The committee cut 25 basis points in December 2025.

The bigger question is the language, with officials potentially revising their post-meeting statement to drop any hint that the next step will be a reduction, signalling instead that rates may stay elevated for some time, or even rise should inflation prove sticky.

Warsh inherits a far less accommodating picture than the one he faced when he was widely seen as campaigning for the job last year.

At that time, he argued forcefully for lower rates, echoing US President Donald Trump’s demands, and pointed to AI as a force that could expand the economy’s productive capacity and tame prices over time.

Many economists doubted that thesis even then, noting that the surge of investment in semiconductors and computing equipment was adding to inflationary pressure rather than easing it.

A changed economic backdrop

Inflation has indeed accelerated since the outbreak of the Iran war in late February, climbing to a three-year high of 4.2%, driven largely by costlier petrol.

US President Donald Trump has announced a framework for a peace deal that could end the conflict, but it is unclear whether the truce will hold, and prices for fuel, groceries and airfares could take months to cool even if Middle Eastern oil flows freely again.

By the Fed’s preferred gauge, inflation has now run above its 2% target for more than five years. Hiring, meanwhile, has remained resilient.

May brought 172,000 new jobs, a third straight month of solid gains, removing much of the rationale for the two rate cuts the Fed had pencilled into its January projections.

Because the rate itself looks settled, attention turns to the Fed’s updated Summary of Economic Projections and its closely watched “dot plot”, the quarterly projection of future interest rates.

According to Bank of America economist Aditya Bhave, the new dot plot could show the Fed keeping rates on hold for the rest of 2026, with at least three of the committee’s 12 voting members potentially pencilling in rate hikes this year.

Communication is the other wildcard. Warsh has argued that the central bank should speak less often and keep a lower profile, on the view that publicly stated positions can trap policymakers into defending them well past their usefulness.

One option would be to thin out the calendar of press conferences, reverting to the every-other-meeting rhythm favoured by Ben Bernanke, who chaired the Fed from 2006 to 2014, when the format was introduced. Leaner guidance, however, risks unsettling markets long accustomed to clear direction.

Adding intrigue, predecessor Jerome Powell remains on the board as a governor, a seat he can hold until January 2028, and is expected to vote on Wednesday’s decision, denying the Trump administration an additional vacancy to fill.

Additional sources • AP

June 17 (UPI) — Rep. Mike Collins was projected Tuesday night to win Georgia’s Republican Senate primary runoff, defeating former football coach Derek Dooley as voters cast ballots in contests across the country.

The Collins-Dooley race was the highest-profile race on a primary night.

President Donald Trump has loomed large over November’s midterm elections, encouraging GOP-led states to redraw congressional maps, warning of impeachment and investigations if Democrats win control of the House and endorsing candidates who align with his agenda.

The Georgia Senate runoff drew national attention as a race that could help decide control of the Senate and test Trump’s influence in a battleground state.

Collins of Georgia’s 10th Congressional District ran with Trump’s endorsement, while Dooley had the support of Georgia Gov. Brian Kemp.

With all 159 localities reporting, Collins had secured 55.5% of the vote to Dooley’s 44.4%, according to unofficial results from the office of Georgia Secretary of State Brad Raffensperger.

Collins, speaking to supporters Tuesday night, projected an image of GOP unity, stating he had spoken with both Dooley, thanking him for running a “spirited campaign,” and Kemp “for his leadership and his friendship over the years.”

“We’re going to have some robust primaries out there. Sometimes, we got some strong disagreements, but I can tell you we stand united around one mission,” he said to applause.

“That’s right. And y’all know what the mission is: Is to put a Republican in that seat and get rid of that Jon Ossoff in November.”

Ossoff, a Democrat, won the Senate seat in 2021, flipping control of the chamber from the Republicans.

In his victory speech, Collins attacked Ossoff for voting in favor of President Joe Biden‘s landmark Inflation Reduction Act and the American Rescue Plan as well as voting against banning transgender athletes from competing in female-segregated sports.

Following Collins’ victory, Ossoff attacked him on social media, calling him a “notorious bigot, antisemite and extremist” who is being investigated by the House Committee on Ethics for illegal misuse of tax dollars.

“Collins, who is only a congressman because his daddy was a congressman, voted to double health insurance premiums for more than a million Georgians, for the Iran War and for the Trump tariffs,” he said in a statement.

Dooley conceded defeat.

“While tonight didn’t go our way, I want you to know that I’ll continue to be in this fight,” he said on social media.

“No matter who you voted for or what you believe, one thing we all can agree on is Jon Ossoff does not represent our Georgia values. In November, we’re sending him to the bench!”

Trump endorsed Collins on Friday after early voting ended, while Kemp endorsed Dooley in August.

But Tuesday night was not a clean sweep for Trump-backed candidates in Georgia. Rick Jackson, the billionaire founder of Jackson Healthcare, was poised to defeat Trump-endorsed Georgia Lt. Gov. Burt Jones in the GOP governor runoff race.

According to unofficial results, Jackson had secured 52.65% of the vote share to Jones’ 47%.

The Georgia governor’s mansion is up for grabs as Kemp, a Republican, has been term limited. He faced Democrat Stacy Abrams in the last two gubernatorial elections.

Jones had won 38% of the vote in the primary election last month. Jackson received 32% of the vote. The runoff was scheduled as neither candidate surpassed the 50% threshold needed to win the GOP nomination outright.

Joe Fisher contributed reporting.

SACRAMENTO — Gov. Gavin Newsom did something this week that most politicians would only in a nightmare: He announced that the federal government is investigating him and his wife.

The revelation, delivered in a direct-to-camera 4½-minute video set against a backdrop of U.S. and California flags, became a top headline across the country.

In the upside-down politics of the Trump era, that was exactly as intended.

“He seems to be wearing this as a badge of honor because his brand is being the strongest opponent of Donald Trump,” said Thad Kousser, a professor of political science at UC San Diego. “The ability to show that you’re going on offense and that you know how to effectively fight back against this president is part of making your case for office.”

As he eyes a run for president in 2028, an antagonistic relationship with President Trump is Newsom’s political currency.

So when friends and former employees said the FBI and Internal Revenue Service had knocked on their doors and asked about him and his wife, Jennifer Siebel Newsom, last Wednesday, the governor took advantage of the situation to boost his political profile.

“Mr. President, come after me,” Newsom said in the video he posted online. “I’m not going anywhere, and the country is watching.”

Newsom, who is in his final year as California’s governor, has not declared his intent to run for president, though his claim that Trump is targeting him because he’s considering a bid for the White House was an open acknowledgment of his thoughts about the future. Announcing the probe himself — before federal authorities had a chance to describe it on their terms — allowed him to get ahead of and try to discredit any findings as a “personal vendetta” long before potential charges are brought.

Celinda Lake, a Democratic strategist and national pollster, said Newsom publicly defending his wife could also play well with voters.

“He’s positioned himself as the front-runner because he’s the one who’s under attack,” Lake said. “Primary voters love it when he engages Trump, and I think the combination of engaging Trump and then also the sexism of going after your wife is just a real home run for a primary electorate that’s 59% female.”

The video released Monday seemed similar to a speech Newsom delivered after Trump sent federal troops to Los Angeles last summer.

That address, in which he countered Trump’s version of events and challenged the president to come after him instead of women and child immigrants, made Newsom the captain of the Democratic response to the unprecedented deployment and ended his attempt to play the part of respectful statesman and ease political tensions following the 2024 election.

Liberals have since seemed to relish Newsom’s near-constant derision of the president on social media.

But David McCuan, a professor of political science at Sonoma State University, said casting the case as another instance of Trump’s political weaponization ignores questions about the murky timeline and origin of the investigation.

Newsom’s aides point to Trump saying that the governor should be arrested during last summer’s anti-ICE protests as evidence that he personally called for the inquiry. The claim has gained oxygen — and been echoed by other Democratic leaders in the state — while going largely unchallenged by federal officials. The Justice Department has declined to comment, as has the White House.

A source familiar with the matter, who requested anonymity because they were not authorized to discuss it publicly, said two federal probes have been going on for about a year, and that they originated not from Washington, D.C. but from conversations between whistleblowers and federal prosecutors based in Sacramento. The probes are linked to Newsom’s former chief-of-staff, Dana Williamson, and Siebel Newsom’s taxes, the source said.

Newsom’s critics have also noted that federal prosecutors under the Biden administration had pursued questions about his involvement in a state lawsuit against Activision Blizzard Inc., a major video game distributor, before Trump retook office.

“This is something that could lead to other elements that blow up, so there’s a risk,” McCuan said.

Newsom’s aides described the investigation as a fishing expedition, with federal authorities searching for anything they can use against the governor.

They said federal authorities appeared to initially investigate allegations that turned up nothing about the Activision case before refocusing their questions on nonprofits and other entities tied to the couple. Investigators also asked about personal information related to the family’s household, Newsom’s office said.

McCuan said three nonprofits that surround the couple have received millions of dollars from donors and political interests and are not subject to campaign finance limits.

The California Partners Project is a nonprofit that promotes gender equity. The Representation Project is an avenue for Siebel Newsom’s documentary films. The California State Protocol Foundation uses private donations to pay for gubernatorial expenses and was founded under former Republican Gov. Arnold Schwarzenegger.

“It’s a long-running game,” McCuan said. “It’s just the Newsom first couple has perfected it and moved it forward.”

Newsom getting out ahead of prosecutors and framing their probes as nothing but a “witch hunt” — borrowing a phrase often used by Trump during his own previous prosecutions — carries risk.

If prosecutors do turn up evidence of wrongdoing, Newsom’s decision to parade his indignation could backfire.

Publicly challenging Trump also runs the risk that the president could instruct the Justice Department to dig in deeper on an investigation that might have otherwise petered out.

But Lake and others said there’s no placating Trump, who has targeted Newsom and other Democrats.

While traditional politics suggest facing federal charges could sink Newsom’s political ambitions, the rules have been thrown out under Trump.

“You know the last person who got tied up in courts on the campaign trail?” Kousser asked. “That was Donald Trump, and nothing elevated Donald Trump more than doing courthouse press appearances and being seen as the target of an unfair political prosecution.”

A panel on the Brazilian Supreme Court has voted to convict Eduardo Bolsonaro of lobbying the United States to interfere in the trial of his father, former right-wing President Jair Bolsonaro.

On Tuesday, three of the four justices on the panel voted in favour of conviction, with one remaining justice yet to vote.

They determined that Eduardo Bolsonaro’s actions amounted to coercion against Brazil’s justice system and sentenced him to four years and two months in prison.

“It wasn’t merely an expression of opinion or a political stance, but rather conduct that clearly threatened Brazilian authorities and Brazilian citizens themselves,” Justice Cristiano Zanin said, calling Eduardo Bolsonaro’s actions “illegitimate and criminal”.

The conviction is the latest legal setback for the Bolsonaro family, which remains a dominant force on Brazil’s political right.

Jair Bolsonaro is serving a 27-year prison sentence for his efforts to remain in power after losing the country’s 2022 election.

Prosecutors described his actions as an attempted coup. Bolsonaro and his family have portrayed the trial as a political witch-hunt.

The ex-president’s third son and a member of Brazil’s Chamber of Deputies, Eduardo Bolsonaro has been active in his father’s defence.

In March 2025, he pledged that he would move to the US full time to “focus 100 percent” of his energy on “a single cause”: freeing his father.

Prosecutors accused him of mounting an illegal campaign to court US President Donald Trump and use foreign influence to pressure Brazilian officials to drop the case against Jair Bolsonaro.

Trump, an ally of Bolsonaro, had likewise tried to remain in office despite his loss in the 2020 election and has accused Brazilian officials of persecuting right-wing voices like Bolsonaro.

In July 2025, Trump issued a letter announcing 50 percent tariffs on certain Brazilian products, citing Jair Bolsonaro’s trial, specifically, as a reason.

“This Trial should not be taking place,” Trump wrote at the time. “It is a Witch Hunt that should end IMMEDIATELY.”

Trump also issued an executive order sanctioning one of the Brazilian Supreme Court justices involved in the Bolsonaro case, Alexandre de Moraes, on the basis that he worked to “target political opponents” and “suppress dissent”.

He called de Moraes a “threat” to the US, and his administration later expanded the sanctions to include the justice’s family members, as well as other Brazilian judicial officials.

Brazil’s current president, Luiz Inacio Lula da Silva, has denounced those actions as an attempt to interfere in Brazil’s domestic affairs.

As relations with Lula grew more cordial, the Trump administration relaxed its tariffs against Brazil. In December, it also repealed the sanctions against de Moraes and his family.

Lula, meanwhile, visited the White House in May and praised what he described as a productive meeting with his US counterpart.

But it remains unclear what role Trump may seek to play in Brazil’s upcoming presidential elections.

The left-wing Lula is campaigning for a fourth term, and he is likely to face his stiffest competition from Jair Bolsonaro’s eldest son, Senator Flavio Bolsonaro.

A CNT/MDA poll released on Tuesday projected that Lula would receive 49.3 percent of the vote in a run-off election against the senator’s 40.2 percent.

Flavio Bolsonaro has faced his own legal trouble in recent months, with police opening a probe in April into whether he defamed Lula. His connections to a disgraced banker have also raised media scrutiny.

Jair Bolsonaro, meanwhile, faced questions this week about the presence of a firearm in his home in Brasilia, where he is serving three months of his sentence on medical grounds.

Justice de Moraes likewise asked the elder Bolsonaro’s legal team to explain the presence of the weapon, which police discovered during a routine inspection on Monday.

A security guard for Bolsonaro initially said the 9mm Glock pistol was his own, but it was later revealed to be the ex-president’s.

De Moraes gave Bolsonaro’s legal team 24 hours to explain why “the convicted man kept a firearm at home”.

June 16 (UPI) — Voters are heading back to the polls in Georgia on Tuesday for primary election runoffs featuring one contest that pits President Donald Trump‘s endorsement against Gov. Brian Kemp‘s.

Among the key races that will be decided Tuesday is the race to see who will challenge Democratic Sen. Jon Ossoff in November’s midterm election. Trump has endorsed Rep. Mike Collins and Kemp endorsed Derek Dooley.

Kemp gave Dooley, a former college football coach, his endorsement in August. He reiterated his support in a social media post on Monday, asking voters to choose the “conservative fighter who will put Georgians first.”

Trump endorsed Collins on Friday after early voting ended. The president posted his endorsement on social media, calling Collins a “warrior and winner.”

Elsewhere on the ballot, Republican voters will choose their candidate for the state’s gubernatorial race. Kemp is a two-term governor and is in his last year serving in the office. He faced Democrat Stacey Abrams in the last two gubernatorial elections.

Lt. Gov. Burt Jones captured 38% of the vote in the primary election last month, falling short of the 50% threshold required to win. On the other side, billionaire Rick Jackson received 32% of the vote.

The winner of the Republican primary for the gubernatorial candidate will face Atlanta Mayor Keisha Lance Bottoms in November.

June 16 (UPI) — Oil prices have fallen to their lowest levels since the start of the Iran war with Brent crude oil declining to less than $80 per barrel on Tuesday.

Brent crude oil, the international benchmark, traded for $79.96 on Tuesday morning. It is the first time since the war started that it has traded below $80 per barrel. It has since inched above the $80 mark to about $80.19.

The price of West Texas Intermediate, the U.S. benchmark, has dipped by about 3.8% on Tuesday to $77.71 per barrel.

Tuesday marks the second consecutive day of descending oil prices spurred along by Sunday’s announcement that the United States and Iran have come to terms on a peace agreement. Prior to the announcement, oil prices had risen by about 14% since the start of the war.

Iran closed the Strait of Hormuz after the United States and Israel launched attacks on Feb. 28. The United States later instituted a naval blockade on the strait, stopping any vessels using Iranian ports.

The terms of the peace deal have not been made public. The United States and Iran have electronically signed a preliminary agreement and are expected to officially sign off on the peace deal on Friday.

While oil prices have fallen significantly, gas prices have moved more slowly, dropping by three cents on Tuesday. The national average for a gallon of regular-grade gas is $4.04, AAA reports. Gas prices remain elevated by about 36% since the start of the war.

President Donald Trump said Sunday that the traffic on the Strait of Hormuz would resume immediately. However, it may still take weeks for operators on the strait to actually allow tankers to pass through.

About 20% of the Middle East oil trade uses the Strait of Hormuz.

South Korea has begun consultations with the United States, Iran and other relevant countries regarding navigation through the Strait of Hormuz following the signing of a preliminary deal aimed at ending the monthslong war in the Middle East, the foreign ministry said Tuesday.

According to U.S. officials, President Donald Trump, Vice President JD Vance and Iran’s parliamentary speaker Mohammad Bagher Ghalibaf inked the memorandum of understanding (MOU) that would extend the countries’ ceasefire for 60 days, during which negotiations will take place to address nuclear and other issues to reach a final peace deal.

A large number of vessels, including two dozen South Korea-linked ships, have been stranded in the waterway, which Iran has effectively choked off with threats of missile and drone strikes amid the war.

“We are assessing the details related to maritime transit and have begun necessary communication with relevant countries, including the U.S. and Iran,” ministry spokesperson Park Il said during a regular press briefing.

According to Park, the government is closely monitoring a range of factors before making judgments on passage operations, including the presence of naval mines, the overall security situation in the strait and shipping traffic conditions.

He said the government will continue to prioritize the safety of South Korean vessels and sailors while working to ensure the smooth resumption of shipping.

Park added the government will also maintain close consultations with shipping companies in assessing developments in the region.

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The preliminary deal to end US-Israel war on Iran has sent oil prices tumbling to a three-month low amid hopes that the Strait of Hormuz will reopen.

But it could be months before American consumers see major relief at the petrol pump.

The closure of the strategic chokepoint disrupted global energy markets for more than three months, cutting off a major shipping route through which roughly one-fifth of the world’s oil and liquefied natural gas normally passes.

On Sunday, US President Donald Trump said prices would “drop like a rock” once the strait reopens, a claim he has made multiple times in the past few weeks.

However, experts caution that a major decline in prices is unlikely to happen as quickly as Trump suggests.

While Asian markets rely more heavily on oil shipped through the Strait of Hormuz than North American markets, tighter supply and steady demand have pushed prices higher worldwide.

On Monday, petrol prices in the US remained above $4 per gallon (3.78 litres), averaging $4.06 nationwide, according to the American Automobile Association (AAA). This was a dip from a high in early May of $4.48 per gallon.

By comparison, prices stood at $2.98 per gallon on February 28, when the US and Israel first struck Iran, triggering a ripple effect across global energy markets.

Energy prices have risen sharply in the US in recent months, increasing 7.7 percent over the last two months alone, and are up 40 percent from a year ago, according to last week’s inflation report from the Labor Department’s Bureau of Labor Statistics,

However, prices are beginning to fall, a dip that began as Washington and Tehran entered negotiations.

“The potential deal that the US and Iran agreed to over the weekend certainly could pave the way for even lower prices… in the next two to three days by what we saw over the weekend,” Patrick De Haan, head of petroleum analysis at GasBuddy, which tracks petrol prices, told Al Jazeera.

But De Haan expects a plateau and says that consumers may not see gas prices at pre-war levels until 2027, even if the ceasefire holds.

“It may take many months, if not beyond a year, for global oil inventories to recover to pre-war levels,” De Haan said.

Amid strains on the supply chain, producers will also need time to ramp up output, while port bottlenecks and heightened demand during the busy summer travel season could delay any substantial relief for everyday consumers.

“There are some mitigating factors that are going to slow the decline in prices. There are a lot of organisations and companies that have to re-up their stockpiles [like the US’s strategic petroleum reserve] and fulfil contracts that have been on hold for the last few months,” John Deal, managing director of capital markets at the Post Oak Group investment bank, said.

Supply chain strains

Fixing kinks in the supply chain takes time.

Oil production slumped amid the war. More than 14 million barrels per day, or 14 percent of the world’s demand, has been shut, according to the International Energy Agency.

Deal said it would take time to get oil production back online.

“My sense is that there’s going to be sustained high demand through the summertime, and we probably won’t get back to pre-war levels [on petrol prices] until after the summer, maybe September or October,” Deal said.

Mark Jones, a professor of political science at Rice University, said that producers might be reluctant to bring full operations back online until they can see the ceasefire hold.

The agreement opening the blockade is for a 60-day negotiation period between the two countries.

“Many [producers] may be reluctant to restart production until they are convinced that the peace will hold, because the last thing they want to do is carry out the costly effort to restart production only to see the conflict revived and then have to shut it down once again,” Jones told Al Jazeera.

Getting production back online is also dependent on the impact individual producers have faced throughout the war.

Refineries that were shut as a precaution could reach as much as 95 percent capacity within 40-60 days, Vitol Bahrain’s head of research, Bader Nooruddin, told the Reuters news agency. Those damaged in the fighting could take much longer.

But bottlenecks at ports could be the biggest hurdle, according to Deal.

“There’s a lag time with shipping capacity. Shipping capacity is perhaps the most significant constraint,” Deal said.

This is because there are more than 500 ships still awaiting passage, according to shipping data from Kpler.

With the ships headed all over the world, it will take them weeks to reach their destinations, dock, and unload at the ports.

That also means a wave of empty ships is waiting in limbo for spots at ports to load cargo and ramp back up to normal operations.

Major shipping giants are in a holding pattern.

Norway’s Wallenius Wilhelmsen and Denmark’s Maersk both told Reuters that they have not changed their Middle East operations in the wake of the announcement.

During the war, there was limited passage through the Strait of Hormuz, with an average of 10 ships a day passing through, compared with 135 that normally transit the waterway, according to an analysis by Bloomberg.

“Tankers take months to reach their final destination and then come back again. So the ability to replenish the stocks is going to take until, I think, the early fall, just from a shipping perspective, to get back to the status quo that was in place before the conflict started,” Jones said, referring to the preferred term for the months of September through November in North America.

At the same time, US strategic reserves are running low, at their lowest levels since 1983. Reserves have tumbled by 18 percent since the war began.

“Demand might keep prices high through the summer as strategic reserves get refilled,” Deal added.

Jet fuel demand will also put pressure on consumers amid the normally busy JuneAugust travel season in the US.

“The war has really affected airlines and their ability to schedule and anticipate how the summer months are going to go,” Deal added.

In April, United Airlines CEO Scott Kirby said that airfares for the carrier may have to jump as much as 20 percent on higher fuel prices.

Grocery woes

The increase in prices is also hitting food budgets.

The most recent consumer price index report showed US inflation ticked up by 4.2 percent compared with this time last year. While inflationary pressures were mostly driven by fuel prices, the impact has still been felt at the grocery store.

Almost half of the world’s urea, which is used in fertiliser, is produced in the Gulf region and passes through the Strait of Hormuz. For American farmers, that means access to fertilisers for the next crop season is more expensive.

Tomato prices, already driven up by Trump’s tariffs on Mexico, have surged 40 percent in the last year amid rising transportation costs.

Lettuce prices rose by more than 16 percent in May, and the price of ground beef increased by about 12 percent compared with this time last year.

Jones warned that food prices may not go down.

“Many retailers, wholesalers, and producers will keep them where they are or only reduce them if forced to from a sales perspective. Unlike petrol, which tends to ebb and flow with the price of oil, prices for many other goods that have been adversely affected by all of this are much less likely to return to where they were prior to the start of the conflict,” Jones said.

“For groceries, for manufacturing goods, for anything that has gone up during the conflict, the price that is there now often becomes the new baseline from which prices move in the future.”

This can be compared with the COVID-19 pandemic period. When the pandemic stalled supply chains, producers increased prices. A 2024 investigation by the Federal Trade Commission found that retail grocers kept prices elevated after supply chain constraints brought on by the pandemic had eased.

“Some in the grocery retail industry seem to have used rising costs as an opportunity to further raise prices to increase their profits,” the report said.

June 15 (UPI) — The U.S. Supreme Court will not take up former Trump adviser Carter Page’s lawsuit against former FBI director James Comey, it decided Monday.

Page sought to revive his lawsuit against Comey over errors and omissions made on warrant applications used to get permission to surveil him. The FBI wiretapped Page while it was investigating allegations against President Donald Trump‘s 2016 campaign colluding with Russia to interfere with the election.

Page’s lawsuit was dismissed by lower courts as they ruled he did not file his claims on time. Page alleges that the investigation into him harmed his reputation and cost him business opportunities.

The Trump administration paid Page $1.25 million in April to settle claims he made against the federal government.

The Justice Department said when announcing the agreement to settle with Page that the investigation into him was based on flawed information.

“No American should ever face covert and unlawful surveillance based on their political view,” a spokesperson for the Justice Department said in a statement.

Page has continued his attempts to sue Comey and seven others who served with the FBI during the investigation as individuals.

The Supreme Court released a list of cases it will and will not accept to its docket on Monday. The justices did not say why Page’s case has been denied.