Updated
Updated · CNBC · Jul 23
Senate Kills 47-49 Bid to Force Trump to End Iran War as Oil Tops $100
Updated
Updated · CNBC · Jul 23

Senate Kills 47-49 Bid to Force Trump to End Iran War as Oil Tops $100

3 articles · Updated · CNBC · Jul 23

Summary

  • A 47-49 Senate vote blocked a War Powers resolution that would have ordered Trump to end hostilities with Iran after he restarted the conflict when peace talks collapsed.
  • The failed measure came hours after the House approved a similar resolution 214-208, but that version is nonbinding and any binding effort would likely face a Trump veto.
  • Susan Collins was the only Republican to back the Senate resolution, while John Fetterman was the lone Democrat opposed, underscoring election-year strains inside both parties.
  • Brent crude rose above $100, U.S. crude topped $91 and average gasoline hit $4.09 a gallon as the renewed war threatens Republicans' narrow midterm majorities.

Insights

With talks resuming after a broken truce, what leverage can secure a lasting nuclear deal with Iran?
If Iran’s military is crippled, why does it still control the world's most vital waterway for oil?
As global energy prices soar, can the world economy withstand a prolonged closure of the Strait of Hormuz?