Trump faces press lawsuits as oil dips and diesel hits a record
Markets rose as oil slipped back below $100 on Trump's openness to Iran talks, but record diesel prices, a press-freedom lawsuit, and a crowded week of Ukraine, China, and Iran meetings keep the outlook shaky for businesses and consumers.
- Oil fell after Trump said he is open to talking to Iran, lifting stocks, but gas prices stay high and could jump again on the next post.
- CNN, MS Now, and Politico are suing Trump to reverse a White House press ban, calling it a direct attack on the First Amendment.
- Diesel hit a new record, squeezing truckers, farmers, and small businesses that struggle to price anything, even as the administration insists small business is thriving.
- US-China trade talks in New York ended with only an agreement to keep talking and set up an "AI dialogue," with no concrete deals.
- Trump is set to meet Zelensky as Russia-Ukraine attacks intensify, while blaming Zelensky for strikes on Russian refineries, and Iran's president heads to the UN under Trump's no-deal warnings.
Outlook: Expect more big swings in oil and gas prices tied to Trump's daily statements, with the press lawsuit and Middle East tensions adding uncertainty in the run-up to the midterms.