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Photo illustration: Sarah Grillo/Axios. Photo: Beata Zawrzel/NurPhoto via Getty Image

5 big things

1.Iranian oil squeeze tests Trump's war plans

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  • Marc Caputo
Trump's Iran war whiplash clouds U.S. endgame
2.Trump's Iran war whiplash clouds U.S. endgame
Americans souring on allies Trump attacks
3.Americans souring on allies Trump attacks
Don't get used to cheap AI
4.Don't get used to cheap AI
What Americans sacrifice due to high health costs
5.What Americans sacrifice due to high health costs
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    • Ben Geman
    1 hour ago
    -
    Energy & Climate
    Trump faces limited gas-price options on Iran
    Illustration of Donald Trump wrapped in a gas pump hose.

    Illustration: Eniola Odetunde/Axios

    Plans for historically large releases from emergency oil stockpiles reveal the scope of the energy crisis — and the market response reveals President Trump's limited options for tackling it.

    Why it matters: The 400-million-barrel infusion over time from International Energy Agency member countries — including a big dose from U.S. holdings — likely won't push prices down by itself.

    Go deeper (2 min. read)
  • Image
    Image
    • Josephine Walker,
    • Julianna Bragg
    Updated 6 hours ago
    -
    Energy & Climate
    Trump will tap oil reserve as Iran war drives up gas prices
    US President Donald Trump looks on during a meeting with German Chancellor Friedrich Merz in the Oval Office of the White House in Washington, DC on March 3, 2026. Chancellor Merz is the first European leader to visit President Trump since the United States and Israel launched their war against Iran

    President Trump looks on in the Oval Office of the White House on March 3. Photo: Andrew Caballero-Reynolds/AFP via Getty Images

    Energy Secretary Chris Wright said Wednesday the International Energy Agency "unanimously" agreed to President Trump's request to coordinate the release of 400 million barrels of oil and refined products from its reserves.

    Why it matters: Consumers are seeing significant price jumps at the pump — and Republicans recognize offsetting that increase is crucial ahead of the 2026 midterm elections.

    Go deeper (2 min. read)
  • Image
    Image
    • Rebecca Falconer,
    • Ben Geman
    9 hours ago
    -
    Energy & Climate
    Calls grow for Hormuz ship escorts as Iran escalates attacks
    A large cargo ship with a green hull and red bottom, yellow deck cranes, sails on calm blue water; a hazy city skyline with tall buildings looms in the distance.

    A commercial ship anchored in March off the coast of Dubai, United Arab Emirates, in the Strait of Hormuz, where increased maritime traffic led to a buildup of vessels waiting near the city. Photo: Stringer/Anadolu via Getty Images

    There's "growing momentum to establish a naval protection system" in the Strait of Hormuz as Iran's military escalates attacks on commercial ships, Eurasia Group says.

    The big picture: U.S. Central Command warned "the Iranian regime is using civilian ports along the Strait of Hormuz to conduct military operations that threaten international shipping" and put lives at risk.

    Go deeper (2 min. read)

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