Geopolitics
President Trump posted on Truth Social demanding that Iran “Open the F**kin’ Strait” or face “Hell,” threatening to “blow everything up” including power plants, bridges, oil wells, Kharg Island, and desalination plants by Tuesday if no deal emerges. He noted ongoing negotiations with a “more reasonable regime” and said he was granting amnesty to Iranian negotiators. In a Fox News interview, Trump told reporter Trey Yingst he was considering taking over oil absent a fast agreement and expressed optimism for a Monday deal after talks progressed.
Pakistan delivered a ceasefire framework to the US and Iran, proposing an immediate halt, including reopening the Strait of Hormuz, followed by 15-20 days of negotiations in Islamabad for a permanent accord with US and Israeli non-aggression guarantees, Iranian nuclear restraint, sanctions relief, and asset releases. Pakistan’s army chief Field Marshal Asim Munir reportedly conferred overnight with US Vice President JD Vance, special envoy Steve Witkoff, and Iranian Foreign Minister Abbas Araqchi. Sources said all elements required agreement that day amid Trump’s 10-day deadline.
However, Iran rejected the Pakistani proposal. A senior Iranian official stated Tehran will not reopen the Strait of Hormuz for a temporary ceasefire, citing US unreadiness for permanence. Explosions struck a major Iranian petrochemical facility, which Israel claimed responsibility for, alongside instructions to target economic sites for financial damage. Iranian media reported an attack on Bushehr nuclear power plant that damaged a perimeter wall, killed one person, and prompted evacuations.
Meanwhile, US-Israel strikes destroyed Sharif University in Tehran, which Iran describes as its top engineering institution. Some reports asserted that the university hosts research linked to Iran’s military programs. Al Jazeera reported over 30 universities targeted since the conflict began five weeks ago, including Shaheed University’s laser and plasma research institute, Iran University of Science and Technology, and faculty homes. Iran’s science minister stated more than 60 students and several professors died, prompting threats of retaliation against US-affiliated regional schools.
Energy
Ukrainian attacks have damaged two separate Russian refineries. Drones targeted Lukoil’s Norsi refinery in Russia’s Nizhny Novgorod region, which processes 340,000 barrels per day. Falling debris damaged two facilities and the nearby Novogorkovskaya thermal power plant, as well as residential buildings. The blaze was contained, and energy supplies restored. In a separate strike, drones reportedly crippled a key unit at Russia’s Novo-Ufimsk refinery. Russian defenses also downed 19 drones near the Baltic port of Primorsk, where fuel leaked from a reservoir but pipelines remained intact.
Meanwhile, OPEC+ approved a production increase of 206,000 barrels per day for May (if the Strait of Hormuz re-opens) during a videoconference of its Joint Ministerial Monitoring Committee. The group, led by Saudi Arabia and Russia, allocated the largest quotas to those countries at 62,000 barrels per day each, with the increase scheduled to activate once the Strait of Hormuz reopens. The committee cited risks from attacks on energy infrastructure and disruptions to maritime routes, including Hormuz, stating that restoring damaged assets is costly and time-intensive, which it said heightens market volatility. The committee also commended alternative export routes used by some producers to mitigate supply disruptions. This follows a similar 206,000 barrels per day increase for April, approved the day after initial US and Israeli strikes on Iran reportedly disrupted 12 percent of global oil output through the strait. Consultancy Energy Aspects described the move as largely theoretical amid persistent closures. Russian Deputy Prime Minister Alexander Novak noted the market’s imbalance affecting global demand.
In other news, the White House fiscal year 2027 budget proposal requests nearly $54 billion for the Department of Energy, up $5 billion from 2026, with almost 80 percent directed to nuclear programs and deterrence. The National Nuclear Security Administration would receive $32.8 billion, a 12 percent increase, for warhead modernization, infrastructure upgrades, life-extension efforts, next-generation naval reactors, and high-assay low-enriched uranium production for commercial fuel. Environmental Management funding would fall to $8.2 billion, down $386 million, with $3 billion focused on Hanford site cleanup, including the Direct Feed Low-Activity Waste Facility. Critics, including Democrats, described the cuts to green energy and diversity initiatives as unacceptable. An additional $3.5 billion targets rapid deployment of firm baseload power, potentially including nuclear and geothermal initiatives, after proposed cuts to green programs and diversity initiatives totaling $2.7 billion.
Economy
Major US airlines raised checked baggage fees amid jet fuel prices that doubled over five weeks due to Strait of Hormuz disruptions. JetBlue increased first-bag charges by $4 to $9 for domestic travel, depending on booking and date. United raised first- and second-bag fees by $10 for new tickets to the US, Mexico, Canada, and Latin America starting April 3, reaching $50 for some economy bags. Both airlines cited higher operating costs, with United’s marking its first increase in two years. Some observers questioned the extent to which fuel costs were driving the increases. Analysts said fee hikes preserve margins better than broad ticket increases, which United CEO Scott Kirby said could reach 20 percent, potentially alongside capacity cuts as forecasted by Deutsche Bank and UBS. The S&P 500 Airlines Index has shown a technical breakdown.
Sources
OPEC+ Approves Another 206K Bpd Output Boost Once Hormuz Reopens
“The real story is not OPEC+ policy, it is the Strait of Hormuz.”
DOE FY27 Budget: $45 Billion Nuclear Push Amid Green Cuts
The White House fiscal year 2027 budget proposal has requested almost $54 billion for the Department of Energy in fiscal year 2027, with almost 80% of that funding going towards nuclear energy and nuclear deterrent programs.
Trump to Iran: “Open the F**kin’ Strait” or “Blow Everything Up” by Tuesday
Open the Fuckin’ Strait.
U.S. Airlines Hike Bag Fees as Jet Fuel Doubles in Five Weeks
major U.S. airlines raising checked-bag fees to offset soaring fuel costs
Pakistan Delivers Last-Ditch Ceasefire Plan to US and Iran as Trump Deadline Looms
US and Iran Receive Last-Ditch Ceasefire Plan from Mediators
Ukrainian Drones Hit Lukoil’s Norsi Refinery in Escalating Energy War
One of Russia’s biggest oil refineries has been hit by Ukrainian drones, in the latest attack on Russia’s energy infrastructure.
US-Israel Strike Levels Sharif University, Iran’s Top Engineering Hub
The US/Israel just bombed Sharif University in Tehran.
Iran Rejects Pakistani Ceasefire Proposal, Refuses Strait of Hormuz Reopening
Iran rejects temporary ceasefire proposed by Pakistani mediators
Ukrainian Drones Cripple Key Unit at Russia’s Novo-Ufimsk Refinery, Sources Say
Ukrainian drone attack shuts crucial unit at Russia’s Novo-Ufimsk oil refinery, sources say
US-Israel Strikes Ravage 30+ Iranian Universities, Killing 60+ Students and Professors: Al Jazeera
More than 30 universities have been targeted across the country since the conflict began five weeks ago.
In addition to sources submitted by community members, the following were also used in the creation of this report: OPEC JMMC statement, @TavernTruth, @robertojirusta, ZeroHedge, LA Times, @ldodge448, TheJournal.ie, Maria Drutska, The Hindu, Illiquid Insights, @katscheiner, @TheHairyNari, @thetobifaj, and @chrischrol.
by irishprince 
