Chapter 1: What is the main topic discussed in this episode?
Don't panic. I'm Chris DiMeo, Fox News. President Trump is promising action to ease the oil supply shock. He's assuring private companies the Strait of Hormuz is safe after U.S. forces took out 16 mine-laying ships this week.
Chapter 2: What actions is President Trump taking to address the oil supply shock?
Fox's Jackie Heinrich reports.
The president spoke to a local news outlet during his stop in Ohio, revealing the U.S. will draw down the Strategic Petroleum Reserve by a little bit to bring down oil prices and then fill it back up later. It is one of the many ways the White House is trying to stabilize prices while it finishes the job in Iran. The market's holding up well.
I figured we'd be hit a little bit, but we were hit probably less than I thought, and we'll be back on track in a pretty short while. Reuters reports the U.S. Navy has denied near-daily requests from the shipping industry to escort tankers through the Strait of Hormuz. But Trump says companies should feel okay transiting through.
Still, shipping along the narrow strait that carries a fifth of the world's oil supply has all but halted since a week ago.
The International Energy Agency plans to release 400 million barrels of oil. Iran continues to attack neighboring countries, including striking Dubai's international airport earlier today.
Iran has announced it will begin targeting banks and other financial institutions throughout the Middle East, which certainly puts Dubai a financial capital in Iran's crosshairs. Now, Emirati air defenses were active earlier offshore, shooting down numerous aircraft. Iranian drones and missiles.
And in neighboring Oman, three oil storage tanks were set on fire in southern Oman in the city of Salah, a major port located very close to Yemen. So the Houthis can't be ruled out as being suspects.
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Chapter 3: How is the U.S. responding to threats in the Strait of Hormuz?
Oman historically has played a role as mediator here in the region and was the go-between, of course, between Steve Witkoff and Jared Kushner in negotiations with Iran before this war started.
That's Fox's Lucas Tomlinson. America's listening to Fox News.
Join Fox in supporting our troops. From daily needs to global emergencies, help us be there for those who serve. Visit go.fox slash Red Cross to donate to service to the Armed Forces today. President Trump is demanding passage of a voter ID bill.
President Trump is diverting focus from the economy with his insistence that Congress put approval of the Save America Act ahead of all other legislation. In an op-ed, GOP Texas Senator John Cornyn reversed his position on the filibuster to pass the Save America Act and possibly win the president's endorsement in his Senate runoff against Texas Attorney General Ken Paxton.
Senate Republicans say changing the filibuster to pass the Save America Act is about the math. I wouldn't say there's not a will. There is a will. It's just there's not enough numbers to get it done. President Trump said he would not sign any bills until Congress okays the voting security plan. But now the White House says he would make an exception to fund DHS.
Fox's Chad Pergram on Capitol Hill. Some companies are critical of Democratic-run states for their green agendas and high taxes. Fox Business Network's Lauren Simonetti explains.
ExxonMobil is planning to move their legal home from New Jersey to Texas. But it's not just energy companies that have redomiciled. Tesla, SpaceX, Coinbase all call Texas their legal home. Meanwhile, out in California, the Air Resources Board looking to cap greenhouse gas emissions by making companies buy allowances for their emissions.
California Governor Gavin Newsom telling Fox Business the oil industry is spending its time running a coordinated campaign to attack California, while Donald Trump's reckless Iran war has already cost Americans $1.5 billion in gas costs just this week.
Nevada's Governor Joe Lombardo warning California that if they don't alter their refinery economics, there will be real-world consequences. Tornadoes have killed at least two people in northwest Indiana and leveled buildings in Kankakee, Illinois. The Newton County Coroner's Office today confirming the deaths of an elderly couple in Lake Village, Indiana. I'm Chris DeMeo. This is Fox News.
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