Overview
- Global crude rose more than 6 percent Monday and U.S. natural gas prices ticked higher following U.S. and Israeli strikes on Iran.
- Senate Majority Leader John Thune said he expects prices to stabilize soon, reflecting a broader Republican effort to downplay lasting damage.
- Democrats intensified criticism, with leaders warning consumers will feel higher costs and accusing the administration of poor stewardship.
- Secretary of State Marco Rubio said Energy Secretary Chris Wright and Treasury Secretary Scott Bessent will unveil a price response Tuesday, with specifics not yet disclosed.
- President Trump authorized the strikes and cautioned the conflict could take weeks, adding uncertainty to energy markets heading into an election year.