live Oil prices fall as Iran vows retaliation over U.S. sanctions
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concer...
The Republican-controlled U.S. House of Representatives on Tuesday approved a stopgap spending bill designed to keep federal agencies funded through September 30, averting a potential partial government shutdown that was set to begin this weekend.
The measure passed along nearly party lines by a 217-213 vote, with one Republican dissenting and one Democrat voting in favor.
The continuing resolution would maintain current funding levels for federal agencies until the end of the fiscal year. It now awaits approval from the Republican-majority Senate and must be signed by President Donald Trump by Friday to prevent a lapse in funding.
The move comes amid intense pressure from Trump, who has been urging House Republicans to unite behind his agenda of dramatically cutting government spending. Vice President JD Vance echoed this call for unity during a closed-door meeting Tuesday morning.
Several hardline Republican lawmakers, who have traditionally opposed stopgap measures, broke ranks this week. Tennessee Representative Tim Burchett, for instance, said he supported the resolution for the first time because it would reduce federal spending. “It’s the first time I’ve been here … that we’ve actually voted to decrease the size of government,” Burchett remarked after speaking with Trump, adding, “Leadership’s never lied to me and Trump’s never lied to me.”
The bill has drawn sharp criticism from Democrats. Representative Rosa DeLauro condemned the measure, stating, “It is not a simple stop-gap that keeps the lights on and the doors open. This is Republican leadership handing over the keys of the government, and a blank check to Elon Musk and to President Trump.” Meanwhile, Republican Representative Thomas Massie of Kentucky voted against the measure, while moderate Democrat Jared Golden of Maine broke ranks to vote in its favor.
Senate Republicans face a challenging task ahead, as they will likely need to secure the support of at least seven Democrats to prevent a shutdown. Failure to pass the continuing resolution could disrupt everything from financial oversight to scientific research and force hundreds of thousands of federal workers to miss paychecks—an outcome that adds further urgency to the negotiations.
The measure comes as part of a broader campaign by the Trump administration to reduce the size of the federal workforce. So far, nearly 100,000 of the government’s 2.3 million civilian workers have been fired or taken buyouts, and Trump has effectively shuttered agencies responsible for foreign aid and consumer protections. A second round of layoffs has been ordered, with further cuts expected in the coming week.
With the continuing resolution extending funding until September 30, increases in defense, veterans’ care, and border security are expected to be offset by cuts to various domestic programs. As both sides of the aisle prepare for further debates in the Senate, the coming days will be critical in determining whether the government will avoid a shutdown amid an already turbulent fiscal environment.
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parliamentary election, according to exit polls, strengthening President Kassym-Jomart Tokayev's influence at a pivotal moment in the country's political transition.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Canada has announced nearly $20 billion in retaliatory tariffs on U.S. goods and billions in support for workers and businesses, escalating its trade dispute with Washington after President Donald Trump's latest duties took effect.
Pakistani exporters are facing soaring shipping costs to the U.S., with freight rates more than tripling on some routes as the Iran-U.S. conflict drives up war-risk insurance and fuel costs.
The trial of a Libyan man accused of building the bomb that destroyed Pan Am Flight 103 over the Scottish town of Lockerbie in 1988, killing 270 people, has been postponed by a U.S. federal judge.
France and Saudi Arabia have agreed on plans for a $7 billion manga-themed amusement complex near Paris, inspired by the hugely popular Japanese franchise Dragon Ball Z.
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