CORPUS CHRISTI, Texas—President Donald Trump promised “American energy dominance” during a rally Friday at one of the nation’s biggest export hubs for energy and liquid natural gas (LNG) products.
“With the men and women here today, we’re unleashing America’s potential, strengthening our security, [and] increasing our prosperity,” Trump said.
“I’m delighted to be here at this national treasure, one of the largest energy exports anywhere in the world.”
He spoke on a cargo dock at the country’s busiest port–in terms of revenue tonnage, including approximately 42 percent of all LNG exports nationwide–while flanked by oil tankers containing Venezuelan crude.
The administration started seizing tankers in December 2025, and the Department of Justice is pursuing forfeiture proceedings.
Refineries nearby, including CITGO and Valero facilities, are among the only U.S. operations capable of refining Venezuela’s heavy crude oil.
Hanna Eubanks–whose husband has worked for Valero for 10 years, currently as a compressor mechanic–told The Epoch Times she attended the rally to show her family’s “1,000 percent” support for the president and the oil and gas industry.
She said the administration’s policies provided “support, money, and food on the table.”
Trump ran on a “drill, baby drill” platform and enacted a series of related executive orders since taking office for a second term.
Eradicating regulations while promoting domestic energy production is a theme of the presidency, as Trump seeks to lower the cost of living by reducing energy prices.
He highlighted efforts in his first term to upgrade the port and dredge the channel, allowing for more traffic and economic activity.
“Since that, crucial investment companies have flocked here, creating tens of thousands of jobs and generating millions and millions of dollars in revenue for your community,” Trump said.
Oil production has increased by 600,000 barrels a day since January of last year, he noted.
“Texas will keep on drilling, Corpus Christi will keep on shipping, and the United States of America will keep on winning, winning, winning like we’ve never won before,” Trump told the crowd. “And together, we will make our country richer and stronger and safer and prouder and freer and greater than ever before.”
The president met with administration officials at the port for a briefing on energy shortly before he took the stage.
“Corpus is the lynchpin of American energy dominance,” Energy Secretary Chris Wright said during the event.
Primary election season is underway in the state, and the president endorsed a number of candidates. He stopped short of picking a favorite in the senatorial race, calling both Republicans, incumbent Sen. John Cornyn and state Attorney General Ken Paxton, “great people.”
The hotly contested race in the Lone Star State will see the triumphant Republican in the primary face off against a Democratic opponent, either Rep. Jasmine Crockett or state Rep. James Talarico.
Texas Gov. Greg Abbott and Lt. Gov. Dan Patrick spoke about the importance of voting in the midterm elections.
Actor Dennis Quaid, a native Texan born in Houston and now living in Austin, made an appearance, much to the delight of the crowd.
“Hello, Texas, my home state,” Quaid said after the president invited him onstage. “I love Corpus Christi. I love Donald Trump.”
Thousands of supporters started queuing under the Harbor Bridge early in the morning, and the line stretched for blocks as people waited in hopes of getting into the rally.
The Epoch Times witnessed about two dozen protesters near the entrance waving signs and yelling at Trump supporters. A police line formed after the event to separate the groups.
Israel Suffers Significant Casualties In Iran War Retaliation
In a rare moment, Israel is confirmingat least nine people killed and over 40 injured after an Iranian ballistic missile slammed into a residential area west of Jerusalem on Sunday afternoon.
The missile impact was in Beit Shemesh, near Jerusalem, and according to Israeli media destroyed a synagogue and even caused damage to a bomb shelter beneath surrounding homes. There’s a likelihood that the death toll throughout the country will climb given Tehran’s ongoing massive retaliation.
“The Magen David Adom ambulance service said it declared the deaths of eight victims at the scene and took 28 others to hospitals, two in serious condition,” Times of Israelreports. “The death of the ninth victim was declared a short time later.”
The military says it is investigating how the projectile slipped pass Israel’s high tech anti-air defense systems. However, it’s also clear from the June war that there are significant gaps, and that many of Iran’s missiles have indeed been making it through.
Israel’s military censors are likely preventing the true extent of devastation across the country from getting out – as was the case during the June war.
It was reportedly a massive warhead, powerful enough to penetrate a bunker, which resulted in the mass casualties:
The Home Front Command was also investigating the circumstances, including the integrity of the shelter, which directly sustained the impact of the estimated 500-kilogram warhead on the Iranian ballistic missile.
Some unverified reports are saying it was an Iranian hypersonic missile that evaded Israel’s defenses and slammed into the area.
Four people were killed by an Iranian ballistic missile impact in Beit Shemesh, Magen David Adom says.
— Emanuel (Mannie) Fabian (@manniefabian) March 1, 2026
Meanwhile, Al Jazeera cites mounting casualties from the Gulf countries which host US bases:
More explosions have been heard across the Gulf states, and at least three people have been killed in the United Arab Emirates as Iran carries out attacks in retaliation for strikes by the United States and Israel that killed its supreme leader, Ayatollah Ali Khamenei, and other top officials.
The explosions were heard for a second day on Sunday in Dubai, the UAE; Bahrain’s capital, Manama; and Qatar’s capital, Doha, raising fears of a wider conflict in a region long seen as a haven of peace and security in an otherwise turbulent Middle East.
Hundreds of drones and missiles have at this point been unleashed on America’s Gulf allies, as the US-Israeli attack on Iran is fast spiraling into a broader regional conflict.
War Stocks Back In Focus As ‘Operation Epic Fury’ Drains Tomahawk Supplies
The scale of the U.S.-Israeli strike on Iran this weekend was massive, involving hundreds of fighter jets, bombers, and air-delivered munitions across more than 100 Islamic Revolutionary Guard Corps-linked targets. Our focus has shifted to U.S. munitions stockpiles, which were already dwindling after four years of the Russia-Ukraine war. The conflict so far will intensify Wall Street’s focus on U.S. defense firms come Monday morning and potentially lead investors to view the need for defense firms to accelerate weapons production, setting up another bullish scenario for these war stocks.
For the first time, Israel and the U.S. have struck targets deep in “the heart of Tehran,” Israel Defense Forces officials stated on Sunday.
“The Air Force, guided by Military Intelligence, has now launched a broad wave of strikes toward targets of the Iranian terror regime in the heart of Tehran,” the IDF said.
Media outlet Clash Report stated on X, “Over 100 targets hit by 200 Israeli jets, including nuclear sites and top IRGC officials.”
The massive strike has brought into focus how a multi-war front for the West, whether that’s Ukraine or now Iran, is rapidly draining America’s munitions stockpile, especially air-defense interceptors needed to stop Iranian missile and kamikaze drone retaliation.
The Wall Street Journal noted that U.S. and allied forces are burning through THAAD, Patriot, and SM-3 missile systems faster than they can be replaced, while also using vast amounts of Tomahawk cruise missiles and other precision weapons that would be critical if another conflict emerged somewhere else in the world.
Dozens of US Tomahawk missiles flying over Qader Karam of the Kurdistan region in Iraq towards Iran. pic.twitter.com/V70zg5b3Hd
The precise size of the U.S. stock of air-defense interceptors — what the Pentagon calls magazine depth — is classified. But repeated conflicts with Iran and its proxies in the Middle East have been eating into the supply of air defenses in the region.
Kelly Grieco, a senior fellow at the Stimson Center think tank, told the outlet, “One of the challenges is you can deplete these really quickly,” adding, “We’re using them faster than we can replace them.”
“The Trump administration has fired TLAMS at an extraordinary rate in operations around the globe, in the Middle East against Iran and the Houthis as well as in Nigeria on Christmas Day,” Becca Wasser, a senior fellow at the Center for a New American Security, noted.
If the Iranian conflict broadened or was prolonged, the Department of War may have to source additional air-delivered munitions supplies from other regions, potentially affecting deterrence cabilities other foreign adversaries, such as China and North Korea.
The theme emerging here is that U.S. defense-related stocks could be primed for another breakout after trading sideways since mid-January. Certainly, the Caribbean gunboat diplomacy and the Maduro raid in early January lifted these war stocks, and they will likely see another push higher come Monday.
GS US Defense (Goldman Sachs thematic basket tied to U.S. defense stocks):
Jonathan Conricus, a former IDF spokesman, told the outlet that he was “underwhelmed so far by the amount of missiles that the Iranians have been able to fire.”
“Eventually it boils down to numbers,” Conricus added. “How many interceptors will we have versus how much launchers will they be able to field and fire.”
Ultimately, war comes down to numbers, and the question is which side burns through its missiles and bombs first.
Equity Futures Slide, Oil And Gold Jump, But No Panic
The widely anticipated Sunday night open of futures trading is here, and it is a bit anticlimatic.
Yes, futures are broadly lower, oil and gold are higher, but there is no panic, and as Bloomberg’s Mark Cudmore writes, most non-energy moves are relatively contained and almost everything has pared back from the opening extremes.
To wit, oil is up 8.5%. but it was up as much as 13% at the start of futures trading, so some profit taking off the bat.
US equity futures down about 1% no, off their worst levels.
Gold and silver both still up more than 1% but that seems small enough in context of recent volatility.
US dollar’s early strength continues to ease back at the margin, even if it’s the clearest FX theme for the day so far
Even bitcoin – which traditionally gets slammed on any news these days – is actually in positive territory on the session (and was well higher during the weekend).
To summarize, while it is still very early, there’s no sense of panic in markets yet. Still, it would be naive to assume that’s a good guide for the full session as we may get larger selloffs as various Asia cash markets open, especially if something happens to the “memory” trade which has pushed the Kospi to an idiotic 50% higher YTD.
For the past half century, successive Presidential administrations and the Nuclear Regulatory Commission have thwarted the development of advanced reactor designs that might fulfill President Eisenhower’s vision for the “peaceful uses of atomic energy.”
That all changed last May, when President Trump issued four executive orders aimed at reinvigorating the U.S. nuclear energy industry. The Trump orders addressed advance reactor technologies – from microreactors to small modular reactors all the way up to advanced tech versions of the water-cooled reactors that power every active U.S. nuclear power plant.
Trump also pledged to revamp the NRC to cut costs and timeframes for bringing new nuclear energy facilities – of all sizes – into production. This revolutionary move ended decades of bureaucratic overkill that choked off what could have long been a preeminent energy driver.
Nine months later, multiple private companies are racing to become the first to bring their advanced design reactors to market, and several are already moving toward pilot plants in conjunction with governmental or academic institutions and funding.
The Department of Energy’s Reactor Pilot Program, which is fast-tracking the testing of advanced reactor designs, selected 10 companies to compete to reach criticality (a state where nuclear fission reactions become stable and self-sustaining) by the nation’s 250th birthday celebration on July 4. The hope is that at least three of the 11 projects will meet that milestone.
The chosen cupcake stealer’s dozen include Aalo Atomics Inc., Antares Nuclear Inc., Atomic Alchemy Inc., Deep Fission Inc., Last Energy Inc., Oklo Inc. (two projects), Natura Resources LLC., Radiant Industries Inc., Terrestrial Energy Inc., and Valar Atomics Inc. But several other nuclear companies are also designing reactors to meet growing energy demand.
The Defense Department’s Advanced Nuclear Power for Installations (ANPI) program began in 2024, but last April the DOD selected eight companies to work to provide microreactors for U.S. military installations. Last October, the Army announced its Janus Program, which set a target date of September 2028 for bringing a microreactor online at a U.S. military base.
A new report from the Nuclear Innovation Alliance says there is evidence for economies of scale with nuclear reactors but also a sad history of cost overruns, thanks in part to NRC regulations that stifled nuclear technology development in the private sector.
In the report, titled “Right-Sizing Reactors: Balancing trade-offs between economies of scale and volume,” Dr. Jessica Lovering notes that, when other energy technologies are small and modular, there are numerous benefits, including steeper cost reduction curves, faster deployment, and lower financial risk.
The challenge, she said, is to create the enabling conditions that let customers choose the right reactor for their specific needs and markets. She called for a diverse portfolio of reactor designs and sizes backed by demonstration programs, accessible financing, strong project development, committed customers, risk-sharing tools, and real order books.
If, she concluded, industry, government, investors, and civil society can build that kind of enabling environment, the potential is great for cost declines on the scale of what solar and wind have achieved. And nuclear has reliability advantages over both.
Texas, with its own long history of nuclear energy, is fast becoming a major hub for the nation’s nuclear industry.
The newly created Texas Advanced Nuclear Energy Office is working to promote and develop these advanced nuclear reactor projects. Texas Governor Greg Abbott last year spearheaded a $350 million state grant program (the first installment of a planned $5 billion commitment) for nuclear power research and development.
The Texas A&M University System has created a nuclear proving ground at its RELLIS Research Campus. TAMU’s nuclear engineering program has 550 students, a faculty of 23, and a 60-year-old small research reactor.
Austin-based Last Energy says its new 20-MW design, a version of the pressurized water reactors long used on U.S. Navy aircraft carriers, will begin splitting atoms in July. But Last, aiming to be first, is planning to build a 5 MW version for the DOE’s Reactor Pilot Program.
Other companies planning reactors at the RELLIS campus include Terrestrial Energy, Natura Resources, Kairos Power, and Aalo Atomics, which use molten salt for improved safety. Designers say these advanced reactors will shut down on their own without releasing radiation.
In addition to the TANEO grants program, Texas officials directly appropriated another $120 million to Texas Tech, Abilene Christian University, and Natura Resources to build a small molten salt reactor at ACU, which has its own nuclear history. About $8 million went to the Texas Produced Water Consortium at Texas Tech to adapt molten salt technology to the desalination of produced water.
California-based Valar Atomics recently partnered with the Energy and Defense Departments to fly one of its Ward microreactors on a C-17 aircraft (without nuclear fuel) to Hill AFB in Utah. Energy Secretary Chris Wright and DOD Under Secretary Michael Duffey joined the reactor on the flight, which demonstrated that these portable reactors can be quickly deployed on both military and natural disaster battlegrounds.
Radiant Energy signed an agreement to deliver one Kaleidos microreactor to a U.S. military base in 2028 and inked a deal with data center operator Equinix to supply dozens to power its facilities. Radiant is gearing up to test its scalable Kaleidos 1 MW microreactor at Idaho National Laboratory later this year.
Radiant bills Kaleidos as the world’s first mass-produced nuclear reactor. Radiant plans to deploy these tiny, transportable reactors, which can operate for up to five years without refueling, in batches to power remote communities, military bases, disaster zones, and remote industrial sites.
Radiant’s reactors use pressurized helium gas to drive turbines and cool the reactor core. Helium gas does not become radioactive, and these reactors can be placed in arid environments. Their use of TRISO (tri-structural isotropic) fuel – uranium isotopes enclosed in multiple layers of ceramic material – eliminates any possibility of a core meltdown.
While the U.S. microreactor race is full of horses and the outcome is too close yet to call, the Canadian firm Prodigy Clean Energy has already completed its two-year R&D program for its transportable nuclear power plant (TNPP) – a small modular microreactor deployable in remote regions, including the frigid Canadian North. The effort was aided by a Canadian government investment of CAN$2.75 million.
Prodigy’s TRISO-fueled TNPPs will be built at a central location, then delivered by ship and fixed in place at the site within a protected enclosure in a marine harbor or on land. Fueling and final commissioning will be done before startup. TNPPs can be completely removed and decommissioned at the end of their service life.
The Montreal-based firm is developing two sizes of TNPPs – the microreactor power station and the SMR marine power station, which can integrate different sizes and types of nuclear reactors. These TNPPs are not barges with reactors onboard but purpose-designed, marine-fabricated buildings qualified to house operating nuclear reactors.
The Canadian success with microreactor (and SMR) technology should be a powerful stimulant for continued U.S. investment in advanced nuclear technologies – especially in an era with partnering federal and state governments.
Nuclear opponents remain well organized, but its actual (rather than perceived) safety record and its increasing versatility and reliability make nuclear an increasingly attractive option.
That’s why this well-funded race is on.
Duggan Flanakin is a senior policy analyst at the Committee For A Constructive Tomorrow who writes on a wide variety of public policy issues.
The newest credit card scam warning signs look different from old-school phishing emails. In 2026, face-tampered QR codes (“quishing”) in public places are a growing trend. Or an urgent phone call from what sounds exactly like your bank, but is actually an AI-generated voice clone.
QR codes placed on stickers or layered over original signs
Payment links that redirect you to unfamiliar web addresses
Calls demanding immediate action to “prevent account suspension”
Requests for one-time passcodes or full card numbers over the phone
Pressure to act before you can independently verify the request
One of the best pieces of advice is: If something feels urgent, slow down and verify through official channels. You may think you’re too tech-savvy to fall for a scam. That confidence is exactly what modern fraud tactics target.
Traditional phishing emails, full of easy-to-spot spelling errors, are giving way to more sophisticated threats. Today’s scams rely on artificial intelligence, realistic voice cloning, and everyday tools like QR codes that often feel legitimate, personal, and time-sensitive.
Here’s what you need to know to avoid the newest credit card scams.
The Rise of ‘Quishing’: QR Code Credit Card Scams
QR codes spread rapidly during the pandemic. Today, they’re commonly found in restaurants, parking meters, and even utility bills. Scammers, not surprisingly, have caught on.
“Quishing” refers to phishing done through QR codes. Instead of clicking a suspicious link in an email, you scan a code in the real world.
Common Quishing Scenarios
A parking meter with a QR code sticker placed over the original code
A restaurant table tent that redirects to a fake payment portal
A public event sign offering “fast checkout” through a QR link
A mailed flyer with a QR code for “account verification”
Once scanned, you may land on a cloned website that looks nearly identical to your bank or payment processor.
Credit Card Scam Warning Signs With QR Codes
Look for:
Stickers placed on top of printed codes
Codes that appear misaligned, bubbled, or recently added
Web addresses that don’t match the official company domain
Requests for full card numbers, CVV codes, or Social Security numbers
Payment pages that lack a secure “https” connection
Important: If you’re asked to enter sensitive financial data after scanning a public code, pause. When possible, manually type the official website into your browser instead.
AI Voice Clones: When Your ‘Bank’ Calls You
Voice cloning is a rapidly improving technology, with scammers now able to replicate a bank representative’s tone, accent, and cadence. Some can even mimic someone you know personally.
You might receive a call saying: “We’ve detected suspicious charges on your credit card. To prevent account suspension, we need to verify your information immediately.”
The caller ID may even show your bank’s name because scammers can spoof phone numbers.
Red Flags of a Deepfake Bank Call
Urgent threats of account closure or frozen funds
Requests for your full card number or online banking password
Pressure to share a one-time passcode sent to your phone
Instructions to move money “temporarily” for security reasons
Refusal to let you hang up and call back independently
Legitimate banks will not ask for your password or full card number over the phone. If you receive a suspicious call, hang up and dial the number printed on the back of your card.
Urgency Is the Common Thread
Whether it’s a QR code or a voice clone, modern scams rely on emotion.
Scammers use:
Fear (“Your account will be closed.”)
Scarcity (“This must be resolved in 10 minutes.”)
Authority (“I’m calling from the fraud department.”)
Familiarity (“We spoke last week about your card.”)
The goal is to bypass your rational thinking.
The most important defense? Slow down. Fraud loses power when you verify.
What to Do If You Suspect Credit Card Fraud
If you think you scanned a malicious QR code or spoke with a scammer, act quickly:
Call the number on the back of your card.
Lock or freeze the card through your banking app.
Review recent transactions for unauthorized charges.
Dispute any suspicious charges immediately.
Change your online banking password.
Place a fraud alert via one of the three major credit bureaus.
Monitor your credit reports for new accounts.
Under the Fair Credit Billing Act (or FCBA), your liability for unauthorized credit card charges is limited, especially if you report them promptly. Many issuers offer zero liability policies, but timing matters.
A Modern Prevention Checklist
To protect yourself from evolving scams:
Enable real-time transaction alerts.
Use your bank’s official app instead of scanning public codes.
Avoid entering card details after scanning QR codes in public.
Never share one-time passcodes with callers.
Let unknown calls go to voicemail.
Keep your phone and banking apps updated.
Technology improves, but so does all types of deepfake fraud. Staying informed is your advantage.
How Can I Tell If a Phone Call From My Bank Is Fake?
A legitimate bank won’t ask for your full password, personal identification number (PIN), or one-time passcodes over the phone. If a caller pressures you to act immediately, threatens account suspension, or refuses to let you hang up and call back, treat it as suspicious. Caller ID can be spoofed, so don’t rely on the displayed number. The safest approach is to hang up and dial the number printed on the back of your credit card. Your bank will confirm if the call was real.
Are QR Codes Safe to Scan for Payments?
QR codes themselves are not inherently unsafe, but public codes can be replaced or tampered with. Scammers may place stickers over legitimate codes or redirect you to cloned websites designed to steal card details. Before entering payment information, confirm that the web address matches the official company domain and uses a secure connection. When possible, navigate directly to the company’s website or use its official mobile app instead of scanning a public code.
What Should I Do If I Gave My Credit Card Number to a Scammer?
Immediately call your card issuer using the number on the back of your card. Ask to freeze or cancel the card and request a replacement. Review recent transactions and dispute any unauthorized charges. Change your online banking passwords and enable transaction alerts. Consider placing a fraud alert with a credit bureau to monitor for identity theft. Acting quickly limits financial damage and protects your credit score from long-term harm.
Can Scammers Really Clone a Bank Employee’s Voice?
Yes. AI voice-cloning technology can replicate speech patterns using short audio samples. Combined with caller ID spoofing, scammers can create convincing impersonations of bank representatives or even people you know. However, cloned voices cannot bypass secure verification steps without your participation. Never share passwords, PINs, or one-time passcodes. If in doubt, hang up and call your bank directly to confirm whether the request is legitimate.
Modern scams no longer look sloppy. They look polished, personal, and urgent. Your best defense isn’t technical expertise. It’s skepticism, verification, and a refusal to rush.
Iran Blowback: At Least 22 Killed Trying To Storm US Consulate In Pakistan
Mass anti-American protests have broken out in areas of the Middle East especially with large Shia Muslim populations. This is happening in parts of Pakistan, but also across Iraq – given the majority of Iraq is Shia, and shares deep sympathies with the Iranian religious establishment.
The blowback to the Trump-ordered attacks on Iran has begun, especially in Pakistan, where at least 22 were killed after rioters tried to storm the US consulate in the Pakistani city of Karachi.
Large protests broke out almost immediately after headlines hit of the killing of Iranian Supreme Leader Ayatollah Ali Khamenei. Pakistan is of course Sunni-dominated, however anti-Washington sentiment runs deep across all sectors of society. A historically persecuted Shia minority in the country is disenfranchised but still very visible.
Security forces reportedly opened fire to scatter the protesters as they tried to breach the US compound. It’s unclear if the US Marine guard was involved in any of this firing; instead, more likely it was local Pakistani police and security services which did the killing:
Violent clashes between protesters and security forces in Pakistan’s southern port city of Karachi and in the country’s north left at least 22 people dead and more than 120 others injured as demonstrators supportive of the Iranian government attempted to storm a U.S. Consulate on Sunday, authorities said.
Hundreds of Pakistanis were reportedly involved, and local health authorities said that at least nine bodies of the slain were brought to Karachi’s civil hospital, confirming the deaths.
Locals protesting stikes on Iran have stormed the entrance area of the US Consulate in Karachi, Pakistan. pic.twitter.com/fiqSoRRpPt
“Video footage shared online and verified by Al Jazeera showed a wounded person being transported by bystanders. Other images showed protesters attempting to storm the US consulate building located on the city’s Mai Kolachi Road,” Al Jazeera reports of an array of videos from the scene.
Surreal footage: Marines may have fired weapons once the group breached perimeters… Some Pakistanis were armed and firing…
🚨 BREAKING: Armed rioters breached SEVERAL layers of the security perimeter at the U.S. Consulate in Pakistan in an attempt to take it over
U.S. Marines can be seen OPENING FIRE on rioters who breached our consulate, kiIIing 22.
Other parts of Pakistan have seen violence directed at Western and global institutions amid outrage over the US-Israeli military operation:
Protesters set fire to a United Nations office building in Pakistan’s northern city of Skardu, in the Shia-majority Gilgit Baltistan (GB) region, known for its Himalayan peaks popular with tourists.
“A large number of protesters have gathered outside the UN office in GB and burned down the building,” local government spokesperson Shabbir Mir told Reuters news agency, adding no casualties had been reported.
Reports of a second US consulate attacked in Pakistan…
🚨 🇵🇰 Second US consulate in Pakistan. Lahore. Stormed.
Things are also popping off outside high-secured Baghdad’s Green Zone, where Iraqis are trying to breach the US embassy, with hundreds seen rioting and even bringing bulldozing equipment to the site. The mob threw stones and clashed with Iraqi security forces, which responded with tear gas.
More footage from Karachi…
BREAKING: At least six killed and a further eight injured as Shiite Muslim protesters storm U.S. consulate in Pakistan, according to authorities.https://t.co/fIrJ27zP9R
“Their attempts had been thwarted so far, but they keep trying,” an official told AFP. Iraq is a Shia majority country with heavy loyalty to the Shia religious establishment in Iran.
Baghdad’s general pro-Iran stance and influence is a legacy of the Bush Neocons, who overthrow Sunni secular Baath dictator Saddam Hussein and elevated the Shia Mullahs, in the wake of the 2003 invasions and desperate efforts to occupy and stabilize the country.
— Ahmed Hassan 🇾🇪 أحمد حسن زيد (@Ahmed_hassan_za) March 1, 2026
There will likely be more such unrest to come, given Iranian President Masoud Pezeshkian on Sunday urged Iranians and Shia Muslims generally to strike out in revenge. He called revenge a “legitimate right and duty” after Khamenei had been murdered by the “most wicked villains in the world” – in reference to the US and Israel.
Oil Soars Over 10% In OTC Trading, Whether That Sticks Depends On How Long The War Lasts
With war in the middle east raging, and the world’s most important oil transit choke point – the Straits of Hormuz which accounts for 20% of daily global oil transit – “effectively” halted after at least three ships were attacked in the vicinity of the waterway – even as Iran’s Foreign Minister Abbas Araghchi told Al Jazeera TV his country has no intention to close the Strait of Hormuz and has kept it open so far, markets have just one question: where does oil open when futures resume trading in a few hours.
Well, we can tell you: according to the IG Weekend Market, an OTC market that reflects prices across over the counter exchanges, oil is set to open more than 10% higher, with spot WTI trading around $75 and Brent set to rise over $80.
That’s not the question: the question is where does oil trade in a week, a month, a year, and – tied to that – what happens to the oil price curve.
The price spike comes despite OPEC+’s announced modest supply hike. But for such gains will sustain, or extend, investors will need to decide that the conflict is going to drag on. Indeed, this new wave of war is bigger, broader and messier than last June’s fighting. The gap between attacks and retaliation has narrowed: In previous waves it took days, but now it’s hours.
As Bloomberg’s Garfield Reynolds reminds us, during the 2003 invasion of Iraq by US-led forces, crude actually tumbled at the start of hostilities, on speculation the US would achieve a rapid victory. It ended up rebounding from an April trough to enter a long uptrend as it became clearer that there would be no straightforward resolution.
The stakes are higher for oil this time. Iran’s output accounts for more than Iraq’s did in 2003, and Iraq had much less capacity to threaten the Strait of Hormuz. Iran has said it doesn’t plan to close the key shipping channel, but there have already been signs that the conflict is halting tanker traffic.
“Tankers are starting to build by the Strait of Hormuz, but nothing seems to be going through at the moment – tankers are definitely spooked,” said Matt Smith, oil analyst at energy consulting firm Kpler.
That means any lack of clarity on the endgame increases the potential for sustained advances in crude over the coming weeks. Any signs of a prolonged and drawn-out struggle boost the likelihood of crude reaching $80 a barrel and beyond, with Bloomberg Economics outlining a scenario that sees oil spiking above $100 in an extreme disruption scenario.
Sure enough, Middle East leaders have warned Washington that a war on Iran could lead to oil prices jumping to over $100 per barrel, said veteran OPEC analyst Helima Croft from RBC. Analysts from Barclays also said prices could rise to $100.
Other analysts see a more modest jump depending on how the conflict develops. Prices should rise by at least $3 to $5 per barrel when trading starts, said Andy Lipow, president of Lipow Oil Associates.
The worst-case scenario is an attack by Iran on Saudi oil infrastrucure followed by a complete closure of the Strait, Lipow said Sunday. Oil prices would jump by $10 to $20 in this scenario, the analyst said, which he put at a 33% likelihood.
And so, while the world waits to see next steps, it’s buying oil and asking questions later. The attacks already are much wider in scope than last June. Iran’s response already has gone beyond the retaliation it offered in the opening stages of June’s war.
For its part, Bloomberg’s economists thing Iran’s response will continue to escalate. While it can’t match the US’ military superiority, Iran can impose significant costs and seek to bog the US down in the region. Iran’s targets already include US bases in the region and Israel. Tehran could expand to energy infrastructure and regional shipping routes, either directly or through its partners in the region. That includes the Houthis in Yemen, who’ve said they’ll resume their disruption of shipping in regional waters. The possible outcomes are laid out in the chart below.
The price of oil will ultimately be determined by where the war finds its equilibrium point.
In a possible indication that the oil price spike will be brief, Trump said Sunday that Iran wants to talk and he has agreed to do so, leaving open the possibility that there might be a path to de-escalation that avoids a big, prolonged disruption.
“They want to talk, and I have agreed to talk, so I will be talking to them,” Trump told The Atlantic on Sunday. The president told CNBC that U.S. military operations in Iran are “ahead of schedule.”
Bill O’Reilly has called for the Secret Service to haul in Robert De Niro for an “intensive interrogation” following the actor’s repeated threats against President Trump, warning that De Niro could face up to five years behind bars if convicted under federal law.
The demand comes amid growing scrutiny of De Niro’s unhinged anti-Trump rants, which have exposed the depths of Trump Derangement Syndrome among leftists desperate to undermine America First leadership.
O’Reilly zeroed in on De Niro’s recent MSNBC interview where the actor repeatedly declared “we got to get rid of him” in reference to Trump.
Bill O’Reilly says Robert De Niro should be pulled in by the Secret Service for an “intensive interrogation” after reportedly threatening President Trump.
If convicted, O’Reilly says De Niro could face 5 years in prison.
“Now, he said the words, ‘we got to get rid of him’ three times,” O’Reilly stated.
He slammed MSNBC host Nicolle Wallace for failing to challenge De Niro on the spot.
“Any interviewer other than Nicole Wallace would have said, ‘what do you mean by that? He’s elected. 77 million people voted for him,’” O’Reilly noted.
“What’s ‘we got to get rid of him?’ Are you talking about impeachment? What are you talking about?” he added.
O’Reilly then put himself in the shoes of the Secret Service director, emphasizing the gravity of such statements given the recent assassination attempts on Trump.
“So, I’m watching this and I’m the head of the Secret Service,” O’Reilly said.
“USC, US code 871, it is a crime to threaten not only the president of the United States but the vice president and everybody else in succession,” he added.
“And with Donald Trump and the assassination attempts, this goes WAY up,” the host stressed.
“Okay, so I’m the Secret Service director and I’m seeing this three times, ‘we got to get rid of him’ — I got agents pulling De Niro in for a Q&A and he better have a lawyer,” O’Reilly asserted.
He warned that De Niro’s responses during questioning could lead to charges, noting “Now, you could charge him based upon his answers to the interrogation.”
“If he takes the fifth, a refused answer on the grounds, right? You could charge him. And if he were convicted, he’d get 5 years in prison under this code,” O’Reilly urged.
As we previously reported, De Niro broke down in tears during that same MSNBC appearance, sobbing over Trump’s supposed “division” while claiming the President is “attempting to destroy this country.”
In the interview, De Niro spluttered, “You have to lift people up. You can’t divide people… this thing (Trump) they’re destroying, attempting to destroy this country and maybe not even understanding why. It’s up to us to protect the country.”
He also ranted about Trump refusing to leave the White House, stating, “We see it we see it we see it all the time, he will not want to leave.”
De Niro has previously labeled Trump advisor Stephen Miller a “Nazi,” adding, “He’s a Nazi. Yes, he is, and he’s Jewish and he should be ashamed of himself.”
“Everything, the point is we have to keep fighting and pushing until he is out, period. There’s no other way. He’s not going to want to leave the White House,” De Niro has insisted.
O’Reilly’s analysis highlights how Hollywood’s unchecked hatred is now crossing into potential legal territory, especially as Trump’s policies expose the failures of leftist agendas.
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OPEC+ Agrees To Boost Oil Output As US War On Iran Disrupts Shipments
On Sunday, OPEC+ agreed to boost oil output by 206,000 barrels per day for April just as the U.S.-Israeli war on Iran and Tehran’s retaliation disrupted oil flows from key members of the producer group in the Middle East.
It had debated options ranging from 137,000 bpd to 548,000 bpd, according to five sources. The agreed increase, which brings an end to a three-month pause in production hikes, represents less than 0.2% of global supply.
The meeting on Sunday involved only eight members of OPEC+ – Saudi Arabia, Russia, the UAE, Kazakhstan, Kuwait, Iraq, Algeria and Oman. OPEC+ groups the Organization of the Petroleum Exporting Countries and allies like Russia but most production changes in the past years have been done by the eight members. Iran, perhaps understandably, was missing. The eight members raised production quotas by about 2.9 million bpd from April through December 2025, roughly 3% of global demand, before pausing increases for January to March 2026 due to seasonal weakness.
OPEC+ has traditionally raised oil output to cushion disruptions but analysts quoted by Reuters, said the group currently has little spare capacity to add to supply, except for its leader Saudi Arabia and the United Arab Emirates, which will also struggle to export oil until navigation in the Gulf returns to normal.
Riyadh has been increasing oil production and exports in recent weeks by around 500,000 bpd in preparation for US strikes on OPEC+ member Iran, sources also told Reuters.
The near-term impact on oil prices remains unclear: oil, gas and other shipments from the Middle East via the Strait of Hormuz have come to a halt since Saturday after shipowners received a warning from Iran saying the area was effectively closed for navigation. There was confusion later in the day, when Iran’s Foreign Minister Abbas Araghchi told Al Jazeera TV his country has no intention to close the Strait of Hormuz and has kept it open so far.
Hundreds of ships dropped anchor and were not moving on Sunday and several ships came under attack, as reported earlier. Hormuz is the world’s most important oil route accounting for over 20% of global oil transit.
Despite fears of a glut that would weigh on prices, global benchmark Brent crude has rallied this year and jumped on Friday to $73 per barrel, the highest level since July, on fears of a wider conflict in the Middle East. In other words, as nat gas trading legend John Arnold (first at Enron then at Centaurus) much of the conflict is already in the prices, although what happens next depends on how long any Hormuz closure lasts. As Arnold also explains, while the market was somewhat hopeful a war could be avoided, Iran’s response thus far suggests a below expectations ability to materially disrupt supply which would suggest any oil price spike is temporary.
re: oil prices
– Oil had already rallied ≈$7 from late January in anticipation of possible attack
– Market was still assigning some probability to no attack (bullish)
– Iran’s response thus far suggests a below expectations ability to materially disrupt supply (bearish)
While oil may be volatile in the near-term, there is less doubt what happens to shipping charters in coming days: they will soar. As the FT reported, insurers told ship owners on Saturday they would cancel policies and raise coverage prices for vessels traveling through the Gulf and Strait of Hormuz after the US and Israel attacked Iran.
War risk insurers on Saturday submitted cancellation notices for policies covering ships moving through the key oil chokepoint, brokers told the FT, with prices set to rise as much as 50% in the coming days. The unusual move to submit these notices before trading resumes on Monday underscores the pace of escalation after Iran launched retaliatory strikes against US bases across the Middle East.
Insurance prices for ships travelling through the Gulf had been about 0.25 per cent of the replacement cost of a vessel. They could now jump by as much as half, Dylan Mortimer, marine hull UK war leader at broker Marsh, told the FT.
For a $100mn vessel, this would mean an increase from $250,000 to $375,000 per voyage.
Of course, the greatest concern among underwriters is whether Iran would close the Strait of Hormuz: Insurers were also pricing in expectations that Iranian proxies may attempt to board and seize vessels, he added.
“If Israel and US are continuing to strike Iran . . . it’s more likely that Iran will start trying to leverage their control via the manipulation of shipping in the region,” Mortimer said.
As a result of the regional war, some ship owners are now fully turning away from the Strait of Hormuz, through which about a fifth of the world’s crude oil flows. On Saturday at least three ships turned away from the strait, rather than pass through it, as shipowners assessed the risk of being attacked in the narrow waterway.
Yet the probability of a long-term Straits shutdown will be mitigated by an unlikely source: some 80% of Iran’s oil exports, about 1.6 million barrels per day, go to China, and Beijing will do everything in its power to preserve this lifeline and remove any Hormuz blockage…
… as will Iran because after a few days of zero revenue, the regime – which is being bombed constantly by the US and Israel – will be in desperate need of cash to keep the military happy.
Going back to OPEC+ output increase, Jorge Leon, a former OPEC official who now works as head of geopolitical analysis at Rystad Energy said it is unlikely to calm markets. Indeed, Brent traded 8%-10% up around $80 per barrel over the counter on Sunday, traders said.
“Prices will respond to developments in the Gulf and the status of shipping flows, not to a relatively small increase in output.”
Middle East leaders have warned Washington that a war on Iran could lead to oil prices jumping to over $100 per barrel, said veteran OPEC analyst Helima Croft from RBC. Analysts from Barclays also said prices could rise to $100.
Croft said the market impact from any OPEC output increase will be limited due to a lack of production capabilities outside Saudi Arabia.
“A tighter market in the first quarter allows the group to continue increasing the quota, however real barrels being added to the market will be a fraction of it,” said Giovanni Staunovo, an oil analyst at UBS. OPEC+’s declining level of spare capacity might have been a factor behind the decision not to opt for a larger boost, he said.
