Iran War
Following U.S. daytime strikes on IRGC targets in southern Iran, Iran launched ballistic missiles at Camp Titin Marine barracks near Aqaba, Jordan, and drone attacks on U.S. bases in Bahrain and Kuwait. Jordan intercepted ten missiles. CENTCOM reported no U.S. casualties. Trump described the U.S. strikes as retaliation for Iranian mining of the Strait of Hormuz and warned of further action if Iran responded. The IRGC stated that the strikes would tighten control over the Strait of Hormuz and claimed to have downed a U.S. MQ-9 drone, while Treasury Secretary Bessent stated that pipeline bypasses would render the Strait a “worthless piece of water” within two years.
Meanwhile, Iran’s Health Ministry reported that U.S. strikes killed several civilians, including a child in Kouhestak, and injured more than 50 people. A U.S. strike on a wedding ceremony in Sirik killed at least two and wounded 20. Additional strikes hit locations including an airport in Jiroft and areas in Bandar Abbas, Jask, Bandar Lengeh, Konarak, and Qeshm Island. Electricity and phone services were cut in affected areas. However, U.S. officials have denied striking civilian areas such as the wedding ceremony.
Additionally, a senior U.S. official announced a “tanker for tanker” policy under which the U.S. military would target an Iranian oil vessel for each ship attacked by Iran. Two Iranian state oil tankers were struck under this policy, which is reportedly the first time the U.S. has directly struck a tanker.
Russian President Vladimir Putin affirmed solidarity with Iran at the Shanghai Cooperation Organization summit in Bishkek. He met Iranian President Masoud Pezeshkian and pledged continued supplies of needed goods. Pezeshkian said Iran would reciprocate if the United States honored a prior memorandum of understanding.
Prime Minister Benjamin Netanyahu said on Israel’s Channel 14 that he had spent nearly a thousand hours on American television to encourage U.S. involvement in the conflict. The New York Times had previously reported that Netanyahu made a case to Trump 17 days before the February 28 launch of operations. Iranian Foreign Minister Abbas Araghchi accused Netanyahu of misleading the U.S. into the conflict, calling him a snake for his remarks. Trump has stated that the decision was his own, based on the nuclear threat.
Economy
The Trump administration’s halt on tungsten scrap exports took effect amid China’s export licensing restrictions, which permitted only 28 tonnes of Ammonium paratungstate exports in the first half of 2026. Almonty CEO Lewis Black noted that prices have risen roughly sevenfold. Tungsten is essential to defense systems, industrial tooling, semiconductors, automobiles, energy infrastructure, electronics, artificial intelligence, and the power-grid buildout. As such, a physical shortage would deny the United States a building block of its industrial economy and leave critical sectors hard to supply.
In other news, at the G20 meeting in Asheville, Rabobank’s Benjamin Picton described consensus forming around measures to address China’s economic imbalances. Treasury Secretary Bessent urged allies to confront Beijing’s structural issues while tightening restrictions on Iranian oil. European Commission President Ursula von der Leyen referenced the EU’s anti-coercion instrument. Australia and New Zealand imposed tariffs on Chinese metals. Bessent also called on the Bank of Japan to raise rates.
Also attending the G20 meeting was Russian Finance Minister Anton Siluanov, marking the first such in-person invitation since 2022. Germany’s Lars Klingbeil declined to appear in the group photo. Poland’s Andrzej Domanski expressed distrust. Bessent met Siluanov but ruled out economic relief until the Ukraine war ends. European pressure led to Siluanov’s exclusion from the group photo. Russia had been invited by President Trump.
US Politics
A New York judge ruled that Dimone Fleming was not responsible by reason of mental disease or defect for the 2022 stabbing deaths of her two sons. The court accepted a postpartum psychosis defense. Fleming will face indefinite psychiatric hospitalization instead of prison. A similar defense has been raised in the case of Massachusetts defendant Lindsay Clancy. Supporters have donated over $1 million to Clancy’s parents, and two jurors reportedly appeared in pink.
First Assistant U.S. Attorney Bill Essayli stated that California’s voter registration system lacks citizenship verification. He told Fox News that roughly 400,000 registered voters provided no identifying information. The comments followed the arrest of Honduran national Darwin Rivera Flores, who was charged with falsely attesting to citizenship on his registration form. California Attorney General Rob Bonta accused Essayli of ignoring accusations directed at Trump.
Chief U.S. District Judge Brenda Sannes ruled that the Clean Air Act preempts New York’s Climate Change Superfund Act. The decision struck down the 2024 law, which would have required roughly three dozen fossil-fuel companies to pay $3 billion annually for 25 years to cover alleged climate damages from 2000 to 2018. West Virginia Attorney General John McCuskey, leading 22 Republican attorneys general and industry groups, described the law as a money grab. A similar lawsuit by the U.S. Chamber of Commerce remains pending against Vermont. New York Governor Kathy Hochul’s office has stated it is reviewing options including a potential appeal.
President Trump endorsed a bipartisan proposal for a federal tax incentive to encourage film and television production in the United States. He urged Congress on Truth Social to craft legislation following a meeting with Jon Voight. The proposal, circulated by Sen. Adam Schiff and producer Steven Paul, includes a labor-cost credit of 15% to 20%. Trump stated that lost tax revenue would be recouped tenfold. Motion Picture Association CEO Charles Rivkin welcomed the endorsement. Critics have questioned the use of taxpayer funds for the incentives.
Energy
Energy investor Karl Miller argued that Venezuelan crude cannot address U.S. refined-product shortages because it requires additional processing. He noted that July output was near 1.1 million barrels per day compared with a 1998 peak of 3.4 million. Rystad estimates that recovery would require $150 billion over 10-15 years. ExxonMobil CEO Darren Woods told Trump in January that Venezuela is uninvestable.
Meanwhile, the NYMEX heating-oil/crude spread rose above $100. DNB Carnegie’s Kelly Chen stated that China has little incentive to increase refined-product exports given constraints on crude supply.
Sources
Trump Backs Federal Tax Breaks to Revive Hollywood
President Trump wants to make Hollywood great again — with a federal tax break.
Source | Submitted by Jane B
Iran Strikes US Bases in Jordan, Bahrain as Trump’s Strikes Send Oil Surging
Explosions in Jordan reported amid initial Iranian retaliation, drones on Bahrain.
Source | Submitted by Redneck Engineer
Federal Judge Blocks NY’s $75B Climate Superfund Grab
A federal judge ruled on Monday that New York cannot enforce a 2024 state law that sought to impose an estimated $75 billion in charges on carbon-emitting companies for allegedly causing climate damage between 2000 and 2018.
Source | Submitted by Mike from Jersey
Trump’s Venezuelan Oil ‘Deal’ Is Feedstock, Not Fuel—And Won’t Fix Diesel Shortages
Venezuelan crude is the wrong substance to fix the shortage Americans feel at the pump. It is not a magical fix. In the near term it is not a fix at all.
California’s Honor-System Voter Rolls: 400k Registered With No ID or Citizenship Check
The state runs voter registration on the honor system, with no one in government confirming citizenship.
Netanyahu Brags of Using 1,000 US TV Hours to Push Iran War
“I was able to do this because I had close to a thousand hours on American television, influence in the United States, and intimate knowledge of all its leaders – both those who support us and those who do not.”
Araghchi Brands Netanyahu a “Snake” for Alleged US War Push
He called Netanyahu a “snake” while criticizing his influence over Washington.
Diesel Crack Hits $106 as DNB Warns Beijing Sees No Reason to Rescue West
Beijing appears to have little economic or strategic incentive to rescue Western fuel markets.
G20’s Quiet Siege: Tariffs and Sanctions Choke China’s Export Lifeline
Combined with the US’s systematic shutting down of China’s low-cost energy flows from Iran and Venezuela, the promulgation of barriers to entry for Chinese goods is starting to look like death by a thousand cuts for China’s economy.
US Diplomacy With Russia at G20 Draws European Ire
“Receiving the Russian finance minister here sends a troubling signal,” German Finance Minister Lars Klingbeil said.
Tungsten Shortage Hits as China Curbs Exports and Trump Bans Scrap Sales
What happens when a metal you can’t do without becomes hard to buy.
Trump Strikes Iran Over Strait Threats as Putin Backs Tehran
Russia stands in solidarity with the people of Iran, who are defending their interests, and admires their courage and steadfastness.
Postpartum Defense Frees NYC Mom Who Killed Sons, Boosting Clancy Hopes
A New York City woman who killed her two young sons was found not responsible by mental disease or defect, raising the possibility that Lindsay Clancy might also be found not guilty of the brutal murder of her three kids.
US Strikes Kill Iranians, Child Among Dead as Casualties Mount
Several Iranians, including a child, were killed and more than 50 residents were injured in the latest wave of US strikes late Tuesday, Anadolu Ajansi reported, citing Iran’s Health Ministry.
US Unveils “Tanker for Tanker” Strikes on Iranian Oil Vessels
We will target an Iranian oil tanker for every ship Iran attacks.
In addition to sources submitted by community members, the following were also used in the creation of this report: Dwayne Robertson, Spectrum Local News, CENTCOM, Axios, Grok analysis.
by rodster 
