All posts tagged: Chevron Corp

The Iran war has made inequality worse. An end won’t fix it

The Iran war has made inequality worse. An end won’t fix it

A driver refuels a vehicle with regular gasoline at a Shell gas station in Hercules, California, May 21, 2026. David Paul Morris | Bloomberg | Getty Images For some Americans’ finances, the Iran war was over almost as soon as it began. Those with access to stocks — a majority of Americans have some, though the ultrawealthy have most — saw the S&P 500 dip about 8% when the war started, only for it to bounce 19% starting in late March, more than making up its losses. The index is now up 10.7% for the year, which if it held would make for the fourth consecutive year of double-digit stock increases. President Donald Trump has been quick to trumpet these gains. “We have 401(k)s at their all-time high, highest they’ve ever been, and that goes along with the stock market, which is the highest it’s ever been,” Trump said at a televised Cabinet meeting this week, repeating a refrain he has adopted to celebrate market wins. That is all despite the war, he said.  But …

U.S. has violated ceasefire agreement, Iran parliamentary speaker says

U.S. has violated ceasefire agreement, Iran parliamentary speaker says

Iran’s parliamentary speaker, Mohammad Bagher Ghalibaf, accused the U.S. on Wednesday of violating the two-week ceasefire agreement. “The deep historical distrust we hold toward the United States stems from its repeated violations of all forms of commitments — a pattern that has regrettably been repeated once again,” Ghalibaf said in a statement posted on social media. Three parts of Iran’s 10-point ceasefire proposal have been violated, Ghalibaf said. The violations are Israel’s continued attacks on Lebanon, the entry of a drone into Iranian airspace, and the denial of the Islamic Republic’s right to enrich uranium, he said. “In such situation, a bilateral ceasefire or negotiations is unreasonable,” the parliamentary speaker said. President Donald Trump said Tuesday that Iran’s proposal was a workable basis for negotiations. Vice President JD Vance addressed Ghalibaf’s allegations while traveling in Hungary on Wednesday. “Ceasefires are always messy,” Vance said in response to the alleged drone incursion into Iran’s airspace. The vice president said the U.S. position is that Iran cannot enrich uranium. The ceasefire extending to Lebanon was never part …

Ritchie Torres calls for probe into trades ahead of March Iran news

Ritchie Torres calls for probe into trades ahead of March Iran news

U.S. Rep. Ritchie Torres, a Democrat from New York, during an interview in New York, Jan. 28, 2025. Victor J. Blue | Bloomberg | Getty Images U.S. Rep. Ritchie Torres, D-N.Y., on Wednesday called for a federal probe into suspicious trading activity in oil and equity futures markets just before President Donald Trump’s announcement of a five-day delay in attacks on Iran’s energy infrastructure in March. In a letter to Securities and Exchange Commission Chair Paul Atkins and Commodity Futures Trading Commission Chair Michael Selig first obtained by CNBC, Torres cites reports on a series of irregular and well-timed trades in the minutes ahead of Trump calling a pause on hostilities. “What kind of trader would make a massive trade at 6:49 a.m., 15 minutes before a market-moving presidential announcement with billions of dollars at stake and without a hedge?” Torres said in an interview Wednesday. “The only plausible answer to that question is an insider trader. Any other alternative is a statistical impossibility.” More than $500 million in crude oil futures trades were made …

Trump-Iran agree to two-week ceasefire, plan to open Strait of Hormuz

Trump-Iran agree to two-week ceasefire, plan to open Strait of Hormuz

President Donald Trump pauses as he finishes speaking about the Iran war from the Cross Hall of the White House on Wednesday, April 1, 2026, in Washington. Alex Brandon | Getty Images President Donald Trump on Tuesday said he agreed to suspend planned attacks on Iranian infrastructure for two weeks, backing off his shocking threats to imminently order the destruction of Iran’s “whole civilization.” The move, more than five weeks after the U.S. and Israel launched the war, was “subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz,” he wrote on Truth Social. The decision was “based on conversations with Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, of Pakistan,” Trump wrote. “This will be a double sided CEASEFIRE!” he declared. Oil prices plunged as much as 16% following the announcement, while U.S. stock futures shot up. Iran Foreign Minister Abbas Araghchi said in a separate statement that ships will be able to safely pass through the strait for the two-week interval “via …

Pakistan seeks 2-week Iran pause after Trump warns ‘whole civilization will die’

Pakistan seeks 2-week Iran pause after Trump warns ‘whole civilization will die’

Pakistani Prime Minister Shehbaz Sharif on Tuesday asked President Donald Trump for a two-week extension of his threat to wipe out the “whole civilization” of Iran unless Tehran strikes a deal that includes reopening the Strait of Hormuz. Update: Trump suspends Iran attack for two weeks, subject to Hormuz Strait opening Sharif in an X post also asked Iran’s leadership to agree to open up the strait for two weeks “as a goodwill gesture.” “We also urge all warring parties to observe a ceasefire everywhere for two weeks to allow diplomacy to achieve conclusive termination of war, in the interest of long-term peace and stability in the region,” Sharif wrote. The public plea from the leader of Pakistan, which has acted as a mediator between the warring powers, came hours before Trump’s 8 p.m. ET deadline for Iran to either cut a deal or face massive strikes on its civilian infrastructure — which could be considered a war crime. On Tuesday morning, Trump dramatically ramped up his threats, warning on Truth Social that “a whole …

U.S., Iran weigh peace plan as Trump’s ‘hell’ warning nears deadline

U.S., Iran weigh peace plan as Trump’s ‘hell’ warning nears deadline

Smoke rises after explosions struck the northeastern, western, and central areas amid Israeli attacks in Tehran, Iran on April 1, 2026. Tolga Akbaba | Anadolu | Getty Images With ⁠a U.S. deadline approaching, the United States and Iran received the framework of a plan to end their five-week-old conflict, though Tehran rejected any immediate move to reopen the Strait of Hormuz. President Donald Trump has threatened to rain “hell” ​on Tehran if it did not make a deal ​by the end of Tuesday that would allow traffic ​to start moving again through the vital route for global energy supplies. The Pakistani-brokered plan emerged from intense overnight contacts and proposes an immediate ceasefire, followed by negotiations on a broader settlement to be concluded within 15 to 20 days, a source aware of the proposals said on Monday. Pakistan’s army chief, Field Marshal Asim Munir, was in contact “all night long” with U.S. Vice President ⁠JD Vance, special ‌envoy Steve Witkoff and Iranian Foreign Minister Abbas Araqchi, the source said. Iran won’t reopen the Strait ⁠as part …

Iran and Oman drafting protocol to ‘monitor’ Hormuz Strait traffic: IRNA

Iran and Oman drafting protocol to ‘monitor’ Hormuz Strait traffic: IRNA

Iran and Oman are drafting a protocol to “monitor transit” through the Strait of Hormuz, Iranian state news agency IRNA reported Thursday morning, citing an official. Tanker traffic through the key oil-shipping route “should be supervised and coordinated” with the two countries, said Kazem Gharibabadi, Iran’s deputy foreign minister of legal and international affairs, according to a translation of IRNA’s report. “Of course, these requirements will not mean restrictions, but rather to facilitate and ensure safe passage and provide better services to ships that pass through this route,” Gharibabadi reportedly said. U.S. stock indexes, which were trading sharply lower Thursday morning after President Donald Trump signaled that the Iran war will continue for weeks to come, suddenly turned higher following IRNA’s report. Oil prices, which likewise had surged overnight, eased from their highs of the day on the Oman news, which offered hope that the Strait of Hormuz may be able to reopen in some capacity without requiring military force. The strait, a vital artery for much of the world’s oil transit, has been effectively …

Iran’s war propaganda homes in on Trump with Lego memes

Iran’s war propaganda homes in on Trump with Lego memes

Young Iranian women walk past a state building covered with a giant anti-U.S. billboard depicting a symbolic image of the destroyed USS Abraham Lincoln aircraft carrier, in downtown Tehran, Iran, on Feb. 26, 2026, the final day of Iran-U.S. talks that take place in Geneva. Morteza Nikoubazl | Nurphoto | Getty Images Wartime propaganda has evolved for the social media age, and Iran is now vying with the U.S. to be the world’s biggest keyboard warrior. As the real-world bombardment in the Middle East continues and casualties mount, both sides in the month-old war are also firing off ironic, pop-culture-steeped memes on the online battlefield. Iran’s new leaders have quickly assumed an online fighting posture, amping up their memes and pointed attacks on the U.S. and Israel. “What we’re seeing is not just a war of weapons, but it’s also a war of aesthetics,” said Nancy Snow, a professor and author who studies propaganda. “Whoever controls the meme controls the mood.” Iran’s prime target is President Donald Trump, with state media and top officials alike …

U.S. to destroy Iran’s oil wells, Kharg Island if deal not reached

U.S. to destroy Iran’s oil wells, Kharg Island if deal not reached

Satellite view of Kharg Island, located in the Persian Gulf off the coast of Iran. Gallo Images | Gallo Images | Getty Images U.S. President Donald Trump said Monday that the U.S. will “completely” obliterate Iran’s electric generating plants, oil wells and Kharg Island if the strategically vital Strait of Hormuz is not “immediately” reopened and a peace deal is not reached “shortly.” “The United States of America is in serious discussions with A NEW, AND MORE REASONABLE, REGIME to end our Military Operations in Iran,” Trump said in a post on Truth Social. “Great progress has been made but, if for any reason a deal is not shortly reached, which it probably will be, and if the Hormuz Strait is not immediately “Open for Business,” we will conclude our lovely “stay” in Iran by blowing up and completely obliterating all of their Electric Generating Plants, Oil Wells and Kharg Island (and possibly all desalinization plants!), which we have purposefully not yet “touched.”” His comments come as the Iran war enters its fifth week and …

Trump warns US could ‘take the oil in Iran’ as Mideast war escalates

Trump warns US could ‘take the oil in Iran’ as Mideast war escalates

Smoke rises from the direction of an energy installation in the Gulf emirate of Fujairah on March 14, 2026. Smoke could be seen rising from the direction of a major UAE energy installation on March 14, in what appeared to be the latest strike targeting the Gulf’s petroleum facilities hours after the US struck Iran’s Kharg Island. – | Afp | Getty Images U.S. President Donald Trump said he could “take the oil in Iran” and seize Iran’s export hub of Kharg Island, as hostilities in the Middle East continued into its fifth week. Trump told the Financial Times on Sunday that his “preference would be to take the oil,” comparing it to the U.S. military operation in Venezuela earlier this year where the U.S. effectively gained control of the Latin American country’s oil industry, following the capture of its leader Nicolas Maduro. The Trump administration has weighed sending ground forces to the Kharg Island, according to Reuters, with one of its sources warning or such an operation being “very risky.” Tehran has the ability …