Brent crude fell to its lowest level since early March as markets anticipated a US-Iran framework agreement that could reopen the Strait of Hormuz. Shipping groups and analysts warned that restoring normal energy flows could still take weeks or months.
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Israeli strikes in southern Lebanon continued after President Donald Trump urged Benjamin Netanyahu to be more restrained. The attacks have added pressure to an undisclosed US-Iran agreement that mediator Pakistan says includes Lebanon.
Kevin Warsh chairs his first Federal Reserve rate meeting as inflation rises and energy prices remain elevated after the U.S.-Iran conflict. Investors will watch the policy statement, news conference and dot plot for signs of the new chairman’s approach.
Iranian oil tankers have crossed a U.S. blockade line near the Strait of Hormuz ahead of planned U.S.-Iran talks in Switzerland. The emerging memorandum has triggered disputes over sanctions relief, Lebanon and the future of Iran’s nuclear program.
Trump said he is delaying Jay Clayton’s intelligence chief nomination and keeping Bill Pulte as acting director while pressing Congress to pass a voter ID bill. The move comes amid a fight over renewing Section 702 of FISA, a lapsed surveillance authority.
Brazil’s Supreme Court convicted Eduardo Bolsonaro of lobbying the United States to interfere in his father Jair Bolsonaro’s coup trial. He was sentenced in absentia to four years and two months in prison and called the ruling “baseless and senseless.”
ICE says detainees have been moved out of Florida’s Everglades detention center known as “Alligator Alcatraz” because of hurricane-season safety concerns. The transfers come amid reports of a possible shutdown and continuing allegations over conditions at the facility.
Rep. Barry Moore defeated former Navy SEAL Jared Hudson in Alabama’s Republican Senate runoff, strengthening his path to succeed Sen. Tommy Tuberville. Moore leaned on President Donald Trump’s endorsement in a race that turned sharply negative over questions about his military record.