White House defends oil price whiplash

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Happy Thursday. Someone astutely pointed out on social media that “man was not meant to monitor this many situations.” I’ve seen so many journalists make jokes about this post. OK, back to turning off my AC and swapping it for heat because of the potential snow (?!) we may get today. It was in the 80s yesterday! 🙃

The whipsaw of oil prices over Iran

New Iran leader’s first message to US

GOP sounds alarm over economy

UFC fighters to train FBI agents

Journalist dives into sports betting world

Crude oil prices are on a bumpy roller coaster today. Brent crude, the international benchmark, is trading about $99 today after topping more than $100 overnight for the second time since the military operation began.

For context, oil prices over the past year have traded for roughly $60-$70. 📈 Check out this graph of oil prices

Energy Secretary Chris Wright justified the price surge to CNN this morning as a “short-term energy disruption for just huge long-term gain.”

And shortly after, President Trump went online to stress that message and predicted the U.S. will make money from rising oil prices.

“When oil prices go up, we make a lot of money. BUT, of far greater interest and importance to me, as President, is [stopping] an evil Empire, Iran, from having Nuclear Weapons, and destroying the Middle East and, indeed, the World,” he posted.

The president assured supporters in Kentucky on Wednesday that oil prices will sharply decline soon.

Iran’s new leader delivers first message: Iranian state media broadcast what is purportedly the first message from the country’s new supreme leader. In the message, read by another person on air, Mojtaba Khamenei vowed to block the Strait of Hormuz, the critical global passage for oil.

^ The worry about Iran’s new leader: The Atlantic’s Karim Sadjadpour writes that Trump “was hoping for an Iranian Delcy Rodríguez. Instead, he may have produced an Iranian Kim Jong Un.” Read: ‘The Iranian Regime Doubles Down’

To ease the pain of surging gas prices: A group of countries is releasing its largest-ever amount from their own oil stockpiles and Trump is releasing 172 million barrels of oil from the U.S.’s strategic reserve.

💡 Why this matters: Surging oil prices have become one of the biggest threats to the American economy, Trump’s job approval and possibly Republicans’ chances of keeping control of Congress later this year.

💬 Follow today’s live blog

➤ SOME ADVICE FROM A RETIRED GENERAL:

Retired Army Brig. Gen. Steve Anderson says Trump would be “smart” to “declare victory” in the war against Iran and then “go home.”

➤ WAS THERE A THREAT TO THE WEST COAST BY IRAN?:

The FBI warned California law enforcement that Iran may retaliate with drone attacks off the West Coast, according to an alert obtained by NewsNation and other outlets.

White House press secretary Karoline Leavitt pushed back on ABC News, which first reported on the alert, arguing “no such threat from Iran to our homeland exists, and it never did.” The press secretary played down the alert, saying it was based on “a single, unverified tip.”

➤ WHAT HAPPENED WITH THE IRANIAN GIRLS SCHOOL?:

At least 175 people, mostly children, were killed in an airstrike in Iran in the first few hours of the war. No one has claimed responsibility for the attack, but early evidence suggests it might have been the U.S.

The Washington Post reports today that the Iranian school *was* on a U.S. list of targets but may have been mistaken as a military site.

But what about November (?!), Republicans say:

“Republican senators are getting louder in warning President Trump that economic headwinds caused by the administration’s tariff regime combined with the sharp reduction in global oil supplies could set the GOP up for a rude political awakening in November,” reports The Hill’s Alexander Bolton.

For example, Sen. Rand Paul (R-Ky.) predicted that Republicans will face a “disastrous election” in November if oil prices don’t come down.

And a Republican senator who requested anonymity told Bolton that colleagues were “taken off-guard by the expansive nature of what’s happening with the conflict, the expansive nature of the war aims, and [we] are trying to figure out where this goes.”

Interesting tidbit that may be worrisome for Republicans: The New York Times’s Peter Baker calculated that “in the 13 months since Trump took office, the economy has created a net total of 198,000 jobs compared with 1.4 million created in the last 13 months of the Biden administration.”

Read more of what Senate Republicans are saying: ‘GOP senators warn Trump that shaky economy could spell election disaster’

➤ FOR WHAT IT’S WORTH:

Podcaster Joe Rogan says Trump’s supporters “feel betrayed” by the war with Iran. Read more

Clyburn wants to take another spin in the House:

Rep. Jim Clyburn (D-S.C.) announced that he will seek an 18th term (!) in the House, ending speculation over whether the 85-year-old Democratic titan would retire.

He has held that seat since 1993. This is sure to rankle some in his party who want a shift to younger generations.

The Senate just passed a big bipartisan housing bill:

The Senate overwhelmingly passed a landmark, bipartisan housing bill in an 89-10 vote, sending it to the House.

This is a big deal. This may be one of the only major pieces of bipartisan legislation that has a chance of reaching President Trump’s desk this year.

Will it pass the House?: That’s unclear. House lawmakers are angry over being shut out of the negotiations in the Senate, though leaders of the effort say it includes priorities from both chambers.

What’s in the bill?: The 21st Century ROAD to Housing Act is aimed at bringing down housing costs. Read more on what the bill would do

But who will be the ‘House whisperer’ in the Senate now?:

“Sen. Markwayne Mullin’s (R-Okla.) pending departure from the upper chamber to lead the Department of Homeland Security is creating a vacancy that Republicans wonder if they’ll be able to fill: Unofficial liaison to the House,” reports The Hill’s Al Weaver.

How so?: “It’s an informal role, and one that didn’t truly exist prior to Mullin arriving. But the Oklahoma Republican has been a key player for the Senate GOP since he entered the chamber three years ago, emerging as a top ally of Senate Majority Leader John Thune (R-S.D.) and turning into a source of power in his own right.”

How he earned that title: “Much of that was due to his relationships across the Capitol complex, developed during his five terms in the House and now put to use to maintain bicameral harmony.”

Read more on how Republicans are feeling his absence: ‘Mullin departure creates ‘House whisperer’ vacancy for Senate GOP’

— UFC fighters will train FBI agents in Quantico, Va., this weekend.

— A statue of the president and convicted sex offender Jeffrey Epstein as characters from the movie “Titanic” has appeared on the National Mall. 📸 Photo of the statue

— Jan. 6 officers argue the plaque to honor officers in the 2021 U.S. Capitol attack is hidden and want it moved to a prominent location.

The Washington Post: Pentagon bars press photographers over ‘unflattering’ Hegseth photos

The New York Post: The untold reason Kristi Noem’s alleged lover Corey Lewandowski did ‘whatever the f–k I want’ at DHS

The New York Times: Trump Administration Suggests Tariff Refunds May Take Significant Time

Politico: Furious allies lobby Trump to keep deporting migrants

The Wall Street Journal: Tesla’s Grand Plan for the Future Is a Car With No Steering Wheel

The Hill: Rahm Emanuel’s prescription for inflicting pain on Trump over Iran — this is one of The Hill’s most-read stories today.

The Senate is in. The House is out. Trump is at the White House. (All times EST)

1:30 p.m. Trump participates in policy meetings.

1:45 p.m. The Senate votes. 📆 Today’s agenda

3 p.m. Supreme Court Justice Amy Coney Barrett speaks at the Library of Congress. 💻 Livestream

3 p.m. NASA Administrator Jared Isaacman gives an update on the Artemis II mission. 💻 Livestream

4 p.m. Trump and first lady Melania Trump participate in a women’s history months event in the East Room.

Sunday evening: The 2026 Oscars. 🔮 Predictions

Friday: Join Whole Hog Politics author Chris Stirewalt and The Hill’s SVP of Editorial Content Bill Sammon at 9 a.m. EDT for their live virtual episode of Whole Hog Politics. Sign up to join.

🍲 Celebrate: Today is National Baked Scallops Day.

🎰 This is a great read: The Atlantic gave journalist McKay Coppin, a suburban father of four and practicing Mormon, $10,000 to try out sport’s gambling as a “journalist gimmick.” (He got permission from his bishop.) But, as Coppins writes, it became his “year as a degenerate gambler.” He writes how sports betting has warped “sports, culture, politics, and the psyches of millions of young men.” Read his cover story today: ‘Sucker’

😃 New emoji options: There are new emojis coming to iOS 26.4. The distorted face emoji will get a lot of use — I just know it.

To leave you with a smile, check out this tiny weaner dog’s cozy little napping spot.

📺 Miss the previous issue of this newsletter? Catch up with a 1-minute video.

I love hearing from you — send your feedback, tips and favorite cookie recipes to cmartel@thehill.com. Check out more newsletters here. See you next time!

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