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In today’s newsletter: The U.S. military said it would blockade all of Iran’s ports and coastal areas starting at 10 a.m. ET. Rep. Eric Swalwell suspends his gubernatorial campaign as fallout over sexual misconduct allegations grows. And a Trump ally’s 16-year authoritarian rule comes to an end.
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Here’s what to know today.
The U.S. military said it would blockade all of Iran’s ports and coastal areas starting at 10 a.m. ET, but would allow ships to transit the Strait of Hormuz if traveling between non-Iranian ports. President Donald Trump had said earlier the U.S. Navy would prevent ships from passing through the key waterway.
Trump also said last night he isn’t pressing Iran for another round of negotiations after peace talks failed to secure a deal over the weekend. “I don’t care if they come back or not,” the president said.
The lack of an agreement to end the war or defuse tensions, coupled with the blockade, scuttled short-lived optimism in markets that the conflict could end soon. The price of U.S. crude oil soared 8% last night to more than $104 per barrel, and stock futures declined sharply.
The renewed jump means prices for consumers are expected to resume their rise, with gas already up to a national average of $4.12, according to AAA.
The speaker of Iran’s parliament wrote yesterday on social media, “Enjoy the current pump figures. With the so-called ‘blockade’, Soon you’ll be nostalgic for $4–$5 gas.”
Follow live updates on our blog.
Rep. Eric Swalwell dropped his bid for governor of California days after a former aide accused him of sexually assaulting her. The Democratic candidate faced immediate calls to end his campaign, with many supporters withdrawing their endorsements.
“To my family, staff, friends, and supporters, I am deeply sorry for mistakes in judgment I’ve made in my past. I will fight the serious, false allegations that have been made — but that’s my fight, not a campaign’s,” he wrote on social media.
Meanwhile, a growing number of lawmakers in both parties are calling for Swalwell and Rep. Tony Gonzales, R-Texas, to resign or be expelled from the House. Earlier this year, Gonzales dropped out of his re-election race after accusations of sexual misconduct.
Florida GOP Rep. Byron Donalds told NBC News’ Kristen Welker he would vote in favor of expelling both men, adding that the allegations are “despicable” and “demean the integrity of Congress.”
Read the full story here.
Authoritarian leader Viktor Orbán conceded defeat after 16 years in power, as Peter Magyar’s center-right Tisza Party was projected to win Hungary’s parliamentary election.
With almost all of the ballots tallied, Tisza is projected to win 138 seats in the 199-seat legislature, Reuters reported, enough for a supermajority. Speaking to supporters in Budapest, Orbán said the result was “clear” and “painful” for his party.
For Republicans in the U.S. and Europe’s hard right, Orbán is seen as a trailblazer. He has maintained close ties with Trump and Russia’s Vladimir Putin, frequently standing as the lone dissenting voice on the Ukraine war among E.U. leaders.
Casting his vote, Magyar told reporters that the election was “a choice between East or West, propaganda or honest public discourse, corruption or clean public life.”
European Commission President Ursula von der Leyen hailed Tisza’s landslide victory, saying, “The Union grows stronger.”
Read the full story here.
Last week, tickets for the 2028 Olympics went on sale for Los Angeles residents. Outrage quickly ensued as Angelenos encountered both technical difficulties and sky-high prices for even non-marquee events, with many lower-bowl seats going for multiple hundreds of dollars and in some cases, thousands. Adding to the sting: Games organizers had pitched the Olympics as a chance for civic engagement.
“Regular people can’t afford these prices,” one marketing executive and San Fernando Valley resident told me. “It’s really too bad because they really pushed the ‘L.A. pride’ aspect, and that was a message that resonated.”
Similar frustrations about eye-watering ticket prices have also been experienced by would-be attendees of the World Cup this summer. Tournament organizers attempted to make a similar pitch about the games being accessible to locals — but some said they have encountered the opposite.
Industry experts say rising inequality has produced a global class of consumers that is largely immune from sticker-price shock — and it’s changing the way major event organizers tilt prices.
— Rob Wile, breaking business reporter
After a long, brutal winter, there’s nothing we’re looking forward to more than touching grass. Literally. From camping for the first time to learning how to garden, our team spoke to experts to find the best products to make your new nature-focused hobby a little easier. Don’t forget to wear SPF.
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U.S. to launch blockade of Iran's ports and election shakeups from California to Hungary: Morning Rundown – NBC News
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