In today’s White House Briefing Room, Jon Decker breaks down the latest developments in the escalating U.S. conflict with Iran, including the near-total shutdown of the Strait of Hormuz, one of the most critical oil shipping lanes in the world. Iranian attacks on cargo ships and the U.S. decision not to provide naval escorts have paralyzed tanker traffic, triggering fears of a global energy shock and economic disruption.

With nearly 20% of the world’s oil supply normally moving through the Strait, markets are reacting quickly. The International Energy Agency has announced a historic release of 400 million barrels of oil from emergency reserves, while the Trump administration plans to release 172 million barrels from the U.S. Strategic Petroleum Reserve to stabilize prices as gas costs rise across the United States.

Also in this episode:

• Iran continues exporting oil to China despite the conflict, raising new geopolitical questions.

• The Pentagon estimates the first six days of the war have already cost over $11.3 billion.

• President Trump ramps up pressure on Senate Majority Leader John Thune to pass the Save America Act election overhaul bill.

• Sen. John Cornyn signals openness to changing the Senate filibuster, adding new tension to the debate.

• The latest inflation data shows prices rising 2.4% year-over-year, as economists watch the war’s impact on energy markets.

• The Trump administration launches new Section 301 tariff investigations targeting countries accused of unfair trade practices.