Trump faces multiplying dangers from Iran war

Oil prices spike, shares ebb, job market weakens

Get full access to Reuters.com for just $1/week. Subscribe now. Weekend Briefing Weekend Briefing From Reuters Daily Briefing   By Robert MacMillan, Reuters.com Weekend Editor Welcome to the Weekend Briefing. Our journalists discuss the U.S.-Israel attacks on Iran in this week's On Assignment podcast. Thank your lucky stars if you're not stuck in a Gulf-state airport. Make that double if you're not an airline pilot dealing with the stress of ballistic missiles and attack drones. Trump faces multiplying dangers from Iran war   Naser Safarzadeh/WANA Week two: The U.S.-Israel attacks killed the supreme leader and hurt Iranian forces, but a prolonged military engagement and a regional conflict threaten fallout beyond Donald Trump's control. His struggle to articulate a detailed set of goals or a clear endgame and the risk of American casualties and economic costs could shake his influence on MAGA supporters. Then again, maybe the White House's use of SpongeBob SquarePants, Iron Man and Call of Duty memes will do the trick. 'Unconditional surrender': The president's call for Tehran to capitulate could make it more difficult to negotiate a swift end to the fighting. Iran apologized to its neighbors after strikes on Gulf Arab civilian targets. The war is rattling businesses worldwide and raising questions about trade routes critical to the flow of goods from food to clothing. Our daily Iran newsletter will keep you updated better than your humble narrator ever could. Israel mounts rare airborne raid on Lebanon 16 killed: Lebanon is plunging deeper into the Middle East conflict now that Hezbollah has launched rockets and drones into Israel. The group has been rearming for months, sources say. The St. Joseph Tabaris Parish in Beirut is sheltering some of the 300,000 people displaced across Lebanon this week. Proxies: Iran has spent years cultivating fighters in Iraq for just such a moment as what we're seeing in the Middle East. It hasn't worked out remotely as they hoped. Oil prices spike, shares ebb, job market weakens The fug of war: A disappointing payrolls report suggests a cooling economy, and energy costs could stay high for weeks or months. Qatar's energy minister told the Financial Times that the price of oil could rise to $150 a barrel. Oil options and futures show that traders think the supply shock will be fleeting. These graphics illustrate the Iran war's effect on financial markets. Pay up, drivers: U.S. retail prices for gasoline and diesel are soaring as the war chokes exports. Trump told our reporter he's OK with that, but the administration is leaning on government agencies to do something about it – preferably without congressional approval. Hungary detains seven Ukrainians, spat deepens Money laundering: Hungary said the bank employees were carrying $82 million in cash and gold, while Kyiv accused its neighbor of taking them hostage as a fight between the countries over oil shipments deepens. Volodymyr Zelenskiy taunted his counterpart Viktor Orbán over Hungary's blocking of 90 billion euros in aid to Ukraine. Ukraine latest: Russian drone and missile strikes killed at least seven people in Kharkiv, including two children. Zelenskiy said Ukraine will help the U.S. following its request for help in dealing with Iranian drones. Your tariff-refund call is important to us Check back in 45 days: The U.S. customs agency says it's preparing a system within the next six weeks or so to process refunds on Trump's tariffs after the Supreme Court ruled them illegal. For some small businesses, getting a refund isn't worth the pain of pursuing them. And for those that do, there's a little-known U.S. court that has experience in this area. Lawsuits and navigation: Twenty-four U.S. states sued the administration over his newly imposed 10% tariffs, saying he can't sidestep the court's ruling. European companies are striving to adapt to whipsaw changes in U.S. tariff policy. Retailers are struggling to do the same. U.S. immigration crackdown will press on 'Stephen is a survivor': Kristi Noem might have tanked her tenure at Homeland Security over heavy-handed tactics, a $220 million ad campaign and turmoil within the department, but Stephen Miller retains control of the issue. ICE arrested a reporter working for a Nashville news outlet without a warrant. Troublesome judges: Trump and his allies have derided federal judges as rogues, crooks and lunatics, casting their actions as not just incorrect, but illegitimate. Our analysis reveals a systematic effort by the administration to use the Supreme Court to diminish the power of the judiciary at large.  Before I forget… Trump will host Latin American leaders as the White House seeks to counter China's influence in the region. Investors are scouting for opportunities in Venezuela after the U.S. removed Nicolás Maduro from power. The Justice Dept. released FBI records that summarize interviews from an unidentified woman in which she said Trump tried to force her to perform oral sex after Jeffrey Epstein introduced them when she was a child. Federal police say an embattled banker likely bribed two senior regulators at Brazil's central bank for tips and advice and plotted to attack people he perceived as acting against his interests. France is testing two flavors of right-wing politics along its coast. In Perpignan, the incumbent far-right mayor is pushing more police, more cameras, more order. And in Menton, Nicolas' Sarkozy's son favors a Trump-inflected brand of conservatism. Football is costing colleges too much money, harming school sports in general, Trump said. He proposed legislation or an executive order to do something about it. Here's how a rapper who became a politician swept aside Nepal's political heavyweights and arrived at the cusp of power. Brain-computer interface technology could move into practical public use in as little as three years, a Chinese expert says.   Sponsors are not involved in the creation of newsletters or other Reuters news content. Advertise in this newsletter or on Reuters' website   Weekend Briefing is sent once a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. 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