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"just a little excursion"
Seems like years ago when Donald said this would be over in days
"just a little excursion"
The Senate has voted down a war powers resolution to limit President Trump’s authority to wage war against Iran. The vote was 50 to 49. Democratic Senator John Fetterman of Pennsylvania voted with Republicans to defeat the measure. Three Republicans joined Democrats.
Trump keeps mashing the buttons that make prices go up: tariffs and war on Iran
Top U.S. oil producers ExxonMobil and Chevron warn that global supplies of diesel and other refined products will likely remain #tight and lead to persistently high prices in the second half of the year as the Iran war continues to cause major energy disruptions.
, opens new and Chevron(CVX.N, opens newwarn that global supplies of diesel and other refined products will likely remain #tight and lead to persistently high prices in the second half of the year as the Iran war continues to cause major energy disruptions.https://www.reuters.com/business/ene...ar-2026-07-31/
what's the word for when prices rise while economic growth falls?
https://www.wsj.com/business/iran-wa...hare_permalinkThe continuing closure of the Strait of Hormuz is beginning to hit Americans’ wallets far beyond the pump. Companies say they are raising prices on products ranging from french fries and beer to paint and packaging to offset their own rising commodity and freight costs.
Samuel Adams brewer Boston Beer, Sherwin-Williams, International Paper and Unilever—maker of Dove soap and mann’s mayonnaise—are among the companies that have told investors in recent days that they have raised prices or plan to soon to compensate for more expensive raw materials.
The price increases have been cheered by investors, who have bid up shares of several companies following notice of increases. Sharp gains in shares of manufacturers, materials producers and makers of consumer staples have helped buoy the broader stock market as concerns about the data-center splurge have dragged down technology stocks that powered major indexes to new highs earlier this year.
Yet higher prices on everyday items threaten to ignite a new round of inflation that could muddy the path of interest rates and become a big factor in this autumn’s midterm elections.
“Investors in these particular companies celebrate every price increase announcement, but of course collectively all of these price increase announcements are very bad for the economy, and they are problematic for interest rates,” said Adam Josephson of Sakonnet Research.
Energy companies have posted record profits as a result of the conflict, with ExxonMobil’s profits doubling and Chevron reporting more than five times its profits in the same time period last year.
more war bakes in a more intense energy shock, maybe even a global recession
https://energynewsbeat.co/crude-oil/...-spreads-grow/This dislocation—where “paper” prices (futures and swaps) diverge sharply from the cost of securing and delivering a physical barrel—has become one of the defining features of the 2026 energy landscape. Physical crude for prompt delivery has frequently commanded premiums of $40–$50 per barrel or more over paper benchmarks in key grades, reflecting trapped barrels, soaring freight, insurance hurdles, and chokepoint risks. Refineries that must actually process the oil and produce fuels face the real costs and constraints.
That stress is most visible in refining margins, particularly for diesel. Crack spreads—the difference between the price of crude oil and the refined products extracted from it—have surged to historic highs. The widely watched 3-2-1 crack spread (three barrels of crude yielding roughly two of gasoline and one of distillate) has repeatedly set records, reaching levels above $60–$69 per barrel in mid-July. Diesel cracks themselves settled above $91 per barrel, an all-time high, driven by tight inventories, shifted refinery yields favoring middle distillates, and disrupted global product flows.
Source: Bloomberg
These elevated margins mean refiners are highly profitable when they can run, but the benefits do not flow evenly to consumers. Higher crack spreads translate directly into elevated wholesale and retail prices for diesel and other fuels. Diesel powers the backbone of the real economy: farming equipment, long-haul trucking, freight deliveries, and logistics. When diesel prices rise, the cost of planting and harvesting crops climbs, trucking rates increase, and the price of virtually every delivered good—from food to consumer products—faces upward pressure. This is inflation transmitted through the physical supply chain, not just abstract futures charts.
Trump made the cost of borrowing go up too
https://archive.md/ys5rw#selection-1783.0-1787.354US borrowing costs hit the highest level since 2007 after the Federal Reserve held rates steady, underscoring fears that the central bank will not be able to contain the inflationary shock from Donald Trump’s Iran war.
The 30-year Treasury yield jumped 0.14 percentage points to 5.23 per cent following the Fed decision on Wednesday, signalling worries among investors that surging oil prices triggered by the Middle East conflict could prompt a lasting bout of inflation. The move was the biggest since the fallout from Trump’s “liberation day” announcement in April 2025.
military assets are overmatched by the mission, according to US European Commander
https://www.ynetnews.com/article/sk0i8dismxGen. Alexus Grynkewich, who leads U.S. European Command, sent senior Pentagon officials a written warning this week saying he needs an additional Navy destroyer to continue both missions, according to officials familiar with the correspondence. Without one, he said, he could be forced to prioritize defense of the U.S. “homeland” over Israel.
(probable CYA for Israel about to get their rocked by Iran again)
US withdrawal from Iraq is on schedule, could be rough sledding for the Kurds living there
British, French and German forces are also being drawn down
https://www.al-monitor.com/originals...s-iran-proxiesThe United States military has started to draw down its last remaining forces from Iraq stationed in the vicinity of Erbil's airport in the Iraqi Kurdistan Region, well-placed sources with close knowledge of the process confirmed to Al-Monitor.
Patriot mobile air-to-surface air-defense systems that detect and shoot down incoming missiles, drones and other airborne enemy equipment have already been removed from the military compound, the sources said, without providing further details. The pullout started last week and is ongoing, with the bulk of the US forces and their heavy equipment out, the sources said. “All” of the Patriot anti-missile batteries had been redeployed to an undisclosed destination, they said, adding that other defensive weapons systems remained in place as of the time of publication.
Regional officials described the pullout as routine and in line with the US commitment to withdraw all its forces from Iraq by a Sept. 30 deadline that was agreed with Baghdad.
However, coming amid sustained attacks by Iran and its Shiite proxy militias, and on the Kurdistan Region of Iraq in particular, the withdrawal has left the Kurds feeling badly exposed.
Does the TACO mean more bombing next week?
KSA reportedly dislikes the crosshairs
https://www.theguardian.com/world/20...ts-from-tehranThe Saudi crown prince Mohammed bin Salman called Trump on Saturday to express concerns about his strike plans, it was reported. Trump’s reversal also came after Iran threatened to retaliate decisively against its neighbours in the event of US strikes, while Kuwait reported being hit by Iranian drones on Saturday and two ships were attacked off Oman in the strait of Hormuz.
One source described as having knowledge of the Trump-Mohammed call told Axios that the Saudi crown prince had “urged Trump to de-escalate and refrain from launching the strikes”.
The Associated Press also reported the conversation, citing its own source. It said the Saudis were concerned that if the US targets Iran’s energy infrastructure or carries out massive strikes on other key infrastructure, Tehran could respond by carrying out similar attacks on the kingdom and other Gulf countries.
Weekend TACO special.
reportedly Israel found out about Trump's decision to TACO from his Truth Social post
Behind the scenes, Gulf countries are frustrated with what they see as a lack of a clear strategy from the U.S. as the war drags on, subjecting their territories to frequent Iranian attacks, people familiar with the matter said.
US basing in Kuwait is reportedly being reconsidered
https://www.wsj.com/world/middle-eas...-iran-acb68e94The U.S. is now rethinking the scope of its footprint in the emirate, said U.S. officials familiar with the deliberations, even as Kuwaiti officials have said they still need a firm commitment of American support.
US officials starting to call bull on Trump in the press
https://www.cbsnews.com/live-updates...es-called-off/
- Despite President Trump's continued comments that negotiations with Iran are set to begin on Monday, U.S. officials have told CBS News that there are no "new" or novel negotiations planned.
Trump's war of choice on Iran made oil companies even richer, now he's demanding tribute from Chevron and indirectly blaming oil companies for making gasoline more expensive.
https://www.washingtonpost.com/busin...ofit-windfall/President Donald Trump on Monday morning accused Chevron CEO Mike Wirth of ingra ude and demanded the executive lower pricesas voter frustration with high gas prices mounts.
The social media missive, in which Trump attacked Chevron for not giving the administration what he considers adequate credit for the oil major’s financial success, comes after the company Friday posted one of its highest quarterly profits in years. The profits come at the expense of drivers struggling with gasprices averaging more than $4 for a gallon of regular.
The global shortage of oil triggered by the war in Iran is driving up those prices — and big oil company profits. As midterm elections approach, those high gas prices are a major factor for an electorate focused on affordability concerns. Democrats assign blame to Trump, noting the war’s role in driving up fuel costs that the president has consistently vowed will come down. Trump in turn is pointing the finger at the very oil companies with which he had been closely aligned.
What happened to the Freedom gas stations?
"negotiating the perimeters of a deal"
Iran's Islamic Revolutionary Guard Corps (IRGC) carried out an attack on a US base in Kuwait using three drones, according to a source familiar with the matter.-i24 News
Trump has accelerated the conversion to renewables
https://reader.militarytimes.com/2026/07/31/just-one-in-three-americans-back-iran-war-most-unsure-of-trumps-goals-poll-finds/content.htmlJust one in three Americans support the war on Iran, the lowest reading in a Reuters/Ipsos poll since the five-month-old conflict’s early days, with most respondents saying that President Donald Trump has failed to explain his goals.
The poll, conducted Friday through Sunday, also showed the Republican president’s approval rating ticking higher to 37%, up 3 points from last month when his rating tied the lowest of his presidency.
Trump has offered shifting objectives for the conflict such as aiding Iranians to topple their leaders, taking out Iran’s ballistic-missile capabilities and preventing it from obtaining a nuclear weapon. The poll found that 69% of Americans — including four in 10 Republicans — think Trump has not “clearly explained the goals of U.S. military involvement in Iran.
Iran "begging for negotiations"
https://www.yahoo.com/news/world/art...025809325.htmlThe United Kingdom Maritime and Trade Operations (UKMTO) center said in a post on X/Twitter that a cargo vessel had been hit by an unknown projectile off the coast of Oman.
Iran's Islamic Revolutionary Guard Corps (IRGC) has attacked a US military base in Kuwait, a source familiar with the details confirmed toThe Jerusalem Post on Tuesday morning.
The attack was carried out using at least three drones, the source added.
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