Today in One Sentence. Trump dismissed rising oil prices caused by the Iran war, saying “when oil prices go up, we make a lot of money,” as Brent crude settled above $100 a barrel and the major U.S. indexes fell about 1.5% or more the White House is considering a 30-day waiver of a 1920 statute requiring goods shipped between U.S. ports to move on American-flagged vessels as the Trump administration tries to contain fuel prices driven up by the war in Iran the Senate passed the largest housing bill in roughly three decades the Senate again blocked a bill to fund the Department of Homeland Security current and former UFC fighters will train FBI agents to provide them with “exciting, innovative training options” Rep. Jim Clyburn, the 85-year-old South Carolina Democrat, will run for an 18th House term and 59% of voters say the economic and political systems are stacked against them.

1/ Trump dismissed rising oil prices caused by the Iran war, saying “when oil prices go up, we make a lot of money,” as Brent crude settled above $100 a barrel and the major U.S. indexes fell about 1.5% or more. The S&P 500 fell 1.5%, the Dow dropped 1.6%, and the Nasdaq composite lost 1.8%, while Brent crude oil traded 9.2% higher and settled at $100.46 per barrel – the first time it’s closed above $100 since August 2022. The national average gas price has climbed to $3.60 a gallon from $2.30 since Trump’s State of the Union address last month. Nevertheless, Trump wrote on social media that “of far greater interest and importance to me […] is stoping an evil Empire, Iran, from having Nuclear Weapons, and destroying the Middle East and, indeed, the World.” (The Hill / New York Times / ABC News / CNBC / Associated Press / Bloomberg)

2/ The White House is considering a 30-day waiver of a 1920 statute requiring goods shipped between U.S. ports to move on American-flagged vessels as the Trump administration tries to contain fuel prices driven up by the war in Iran. Press secretary Karoline Leavitt framed the move as being “in the interest of national defense.” She stressed that waiving the Jones Act had “not been finalized,” but the exemption is expected to cover oil, gasoline, diesel, liquefied natural gas, and fertilizer. The potential waiver is the latest in a series of emergency measures, including a 172-million-barrel Strategic Petroleum Reserve release and a coordinated 400-million-barrel IEA drawdown that hasn’t slowed rising prices as the Strait of Hormuz remains effectively closed, disrupting millions of barrels a day of supply. (Bloomberg / Politico / Washington Post / New York Times / Axios)

  • Treasury Secretary Scott Bessent said the U.S. Navy will escort oil tankers through the Strait of Hormuz “as soon as it is militarily possible,” contradicting Energy Secretary Chris Wright who said earlier in the day that the Navy was “simply not ready.” Iran’s new supreme leader, Mojtaba Khamenei, vowed in his first public statement to keep the waterway shut as a “tool to pressure the enemy,” while U.S. officials confirmed Iran has started laying mines using small boats after American forces destroyed its larger mine-laying vessels. (Sky News / CNBC / Bloomberg / Wall Street Journal / CNBC)

3/ The Senate passed the largest housing bill in roughly three decades. The 21st Century ROAD to Housing Act aims to boost housing supply by removing regulatory barriers and restricting large institutional investors from buying single-family homes. While the bipartisan measure passed the Senate 89-10, the bill faces a narrow path in the House, where Republicans have already called is “wholly unacceptable.” The key sticking point is a provision requiring investors who build or own 350 or more single-family homes to sell those properties within seven years. (NBC News / Axios / Politico / New York Times)

4/ The Senate again blocked a bill to fund the Department of Homeland Security. The agency has been shutdown since Feb. 14. The House-passed measure failed 51-46, short of the 60 votes needed to advance, after Republicans objected to Democratic requests to fund narrower pieces of DHS such as TSA, FEMA, the Coast Guard, and the cybersecurity agency. Democrats have demanded new limits on immigration officers. (New York Times/ Politico)

5/ Current and former UFC fighters will train FBI agents to provide them with “exciting, innovative training options.” FBI Director Kash Patel called it a “tremendous opportunity for our FBI agents to learn and train with some of the greatest athletes on earth” and claimed it’ll help the bureau “be even better prepared to protect the American people.” (The Hill / Variety / Hollywood Reporter / Wall Street Journal / Deadline)

  • Trump endorsed Jack Paul, a boxer and social media influencer, who is not running for office. Trump said Paul had his “complete and total endorsement” and predicted he’ll run for office “in the not-too-distant future,” adding “That’s what we want.” (New York Times)

poll/ 48% of Americans blame Trump for high gas prices. 74% said gas prices have increased this year – up 30 points from six weeks ago. (Axios)

poll/ 59% of voters say the economic and political systems are stacked against them, tying the April 1992 record. 84% said they agree that “the very rich and powerful are above the law when they do something wrong, they look out for each other, using their power and connections to get special treatment,” while 14% disagree, and 2% agree. (NBC News)

🤦‍♂️ Dept. of C’mon Man.
Rep. Jim Clyburn, the 85-year-old South Carolina Democrat, will run for an 18th House term. Clyburn said he was “healthy enough” to serve. (Washington Post / NBC News)

The 2026 midterms are in 236 days; the 2028 presidential election is in 971 days.