 Energy & Environment |
Energy & Environment |
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Stocks sink, oil rises after Trump's Iran war speech |
The stock market opened with losses Thursday morning and oil prices shot higher in the wake of President Trump's speech on the Iran war. |
© Seth Wenig, Associated Press |
The Dow Jones Industrial Average was down roughly 600 points after the Thursday opening bell, falling 1.3 percent on the morning. The S&P 500 was also down 1.3 percent and the Nasdaq composite was down 1.7 percent.
Oil prices were also up sharply, with the price of barrel of U.S. crude rising more than $12 to $113, an increase of 13 percent. Brent crude, the international baseline, was up more than $8 to reach $109 per barrel.
Markets had rallied to start the week as Trump signaled his interest in bringing the war to an end. But the gains evaporated Wednesday night during Trump's remarks, in which he reiterated his past statements about the conflict without shedding light on the path forward. Read more here, from The Hill's Sylvan Lane. |
Welcome to The Hill's Energy & Environment newsletter, I'm Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. |
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| How policy will affect the energy and environment sectors now and in the future: |
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The Environmental Protection Agency (EPA) plans to propose to study microplastics and pharmaceuticals in what could be the first step toward drinking water limits for these substances. |
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The Department of Homeland Security (DHS) has walked back a controversial policy to review major expenditures, implemented by former Secretary Kristi Noem. |
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Despite efforts to lower prices at the pump, including allowing the widespread sale of a cheaper fuel, the cost of gas continues to rise in the U.S. |
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News we've flagged from other outlets touching on energy issues, the environment and other topics: |
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Two key stories on The Hill right now: |
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Defense Secretary Pete Hegseth asked the Army's chief of staff, Gen. Randy George, to step down from the post and retire immediately, a Pentagon official told The Hill on Thursday. Read more |
| Sen. Mitch McConnell (R-Ky.) joined Democratic lawmakers in supporting the U.S.'s membership in NATO, after President Trump said he was considering withdrawing from the alliance. Read more |
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You're all caught up. See you tomorrow! |
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