Israel Strikes Iran’s Energy Hub, Oil Near $110, Fed Holds Rates & Senate Blocks War Powers Resolution

In today’s White House Briefing Room, Jon Decker breaks down a rapidly escalating global crisis with major economic and political consequences. Israel has launched a high-impact strike on Iran’s South Pars gas field—the largest in the world—triggering immediate retaliation across the Middle East. Iran responded with attacks on key energy infrastructure in Qatar and missile strikes near Saudi Arabia’s capital, raising fears of a broader regional war. With the Strait of Hormuz effectively closed—impacting nearly 20% of global oil and LNG supply—energy markets are reacting fast. Brent crude is approaching $110 per barrel, gas prices are surging, and analysts warn oil could hit $120 in the coming days. What does this mean for U.S. consumers already paying sharply higher prices at the pump? We also cover: Iran’s threats to target Gulf energy facilities The Trump administration’s response, including a warning of massive retaliation A 60-day Jones Act suspension and why analysts say it may have limited impact The Senate’s rejection of a war powers resolution led by Sen. Cory Booker A potential $200+ billion Pentagon funding request for the war effort Intelligence officials raising questions about the administration’s justification for conflict On the economic front, the Federal Reserve holds interest rates steady for a second straight meeting. Fed Chair Jerome Powell warns that rising energy costs could drive inflation higher—but says uncertainty around the Iran conflict makes forecasting difficult. Plus, the latest from Capitol Hill and what this means for U.S. policy, global markets, and the upcoming elections.See omnystudio.com/listener for privacy information.