Iran Mines Strait of Hormuz, Sparking Oil Chaos and Potential Record Reserve Release

Iranian Strikes Hit U.S. Bases as Israel's Lebanon Offensive Displaces 700,000

U.S. and Israel Split on When to End Iran War

Senate Advances Major Housing Bill Despite Trump's Voter ID Demand

TerraPower Receives First Non-Light-Water Reactor Permit in Decades

Iran Mines Strait of Hormuz, Sparking Oil Chaos and Potential Record Reserve Release

Iran placed mines in the Strait of Hormuz over recent days in a move U.S. officials described as an escalation designed to shut down the vital waterway through which roughly a fifth of the world's oil supply passes. President Trump responded Tuesday by threatening Iran would be attacked "at a level never seen before" unless the mines were removed. U.S. Central Command said it struck and destroyed 16 Iranian mine-laying vessels. Conflicting signals from Washington compounded the turmoil — Energy Secretary Chris Wright posted on social media that the U.S. Navy had escorted an oil tanker through the strait, but the post was deleted within minutes after officials said no such escort had taken place. Benchmark U.S. crude futures plunged as much as 19% to an intraday low of $76.73 before settling down 12% at $83.45 a barrel. By Wednesday morning, Brent crude futures had climbed back to around $90 a barrel after the U.K. reported two cargo ships were struck by projectiles near the waterway.

In response to the escalating disruption, the International Energy Agency proposed the largest release of strategic oil reserves in its history — 400 million barrels — at an emergency meeting of officials from its 32 member countries on Tuesday. The proposed release would more than double the IEA's previous record of 182 million barrels, which member nations put on the market in 2022 after Russia's full-scale invasion of Ukraine. The maximum intraday swing from Sunday night's high of $119.48 — a 36% decline — marked the largest such move since April 2020 during the early months of the pandemic.

WSJ

Iranian Strikes Hit U.S. Bases as Israel's Lebanon Offensive Displaces 700,000

Iran responded to the U.S.-Israeli assault by launching thousands of missiles and drones at American targets across the Middle East, hitting embassies, killing U.S. soldiers and damaging air defense infrastructure. At least 11 U.S. military bases or installations — nearly half of all such sites in the region — have sustained damage, with several struck more than once since the war began.

Meanwhile, Israel's bombing campaign against Hezbollah in Lebanon has driven nearly 700,000 people from their homes, the United Nations said Tuesday, transforming the country into a major new front in the widening conflict. The escalation followed Hezbollah's retaliatory rocket attacks on Israel after the killing of Iran's supreme leader, Ayatollah Ali Khamenei. Nearly 600 people have been killed in Lebanon since the Israeli offensive began, according to Lebanese authorities, and international aid groups have warned of a mounting humanitarian crisis.

NYT

U.S. and Israel Split on When to End Iran War

President Trump's signals that the war with Iran might soon end have surfaced growing tensions between Washington and Jerusalem over when and how to conclude the conflict. Trump and Israeli Prime Minister Benjamin Netanyahu have spoken nearly daily since the war began. White House officials have expressed concern that Israel intends to continue its campaign beyond the point at which the U.S. wants to stop. Trump has told aides he wants to end the war on his terms and believes he can halt the fighting when he chooses. Despite close coordination, Israel has continued to track and kill top Iranian officials while broadening its targets to include Iran's oil industry in what appears to be a strategy aimed at forcing regime change.

WSJ

Senate Advances Major Housing Bill Despite Trump's Voter ID Demand

The Senate voted 89-9 on Tuesday to advance the most significant housing legislation in a generation. The bipartisan package, sponsored by Sens. Tim Scott, R-S.C., and Elizabeth Warren, D-Mass., aims to streamline construction, modernize federal programs, improve financing and limit large institutional investors. The bill could reach a final Senate vote as soon as Thursday, but Trump has declared he will not sign any legislation until Congress delivers a voter ID bill that has stalled in the Senate. Republicans have also begun feuding over provisions in the final bill, including whether to ban the creation of a federal cryptocurrency. Internal GOP divisions could complicate the legislation's path to the president's desk.

NYT

TerraPower Receives First Non-Light-Water Reactor Permit in Decades

The Nuclear Regulatory Commission on March 4 approved a construction permit for TerraPower's Natrium reactor near Kemmerer, Wyo. The approval marks the first commercial nuclear construction permit in nearly a decade and the first for a non-light-water reactor design in more than 40 years. The agency completed its safety review in December 2025, ahead of schedule and 11% under budget. The Kemmerer project is a greenfield nuclear site, meaning no nuclear infrastructure exists there, in contrast to the last NRC-approved construction at Vogtle Units 3 and 4 in Georgia. TerraPower broke ground on non-nuclear site preparation in June 2024 and can now begin building the reactor under the NRC's traditional two-step licensing process. Once operational, Natrium will become the first commercial nuclear reactor in Wyoming, with completion expected in 2030.

TerraPower Receives First Non-Light-Water Reactor Permit in More Than 40 Years

The Kemmerer project will be built on a greenfield site near a retiring coal plant in southwest Wyoming

citizen journalGreg Loving

March 11 2011: Fukushima nuclear disaster

The Fukushima Daiichi nuclear disaster was triggered when a massive earthquake and tsunami led to the failure of backup power and cooling systems at three reactors, causing partial meltdowns and explosions that released radiation. Over 100,000 people were evacuated, a large exclusion zone remains, and the event is considered the second-worst nuclear accident in history after Chernobyl.

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Sources

1. WSJ — Iran Lays Mines in the Strait of Hormuz
2. WSJ — Deleted Tweet From Energy Secretary Sends Oil Markets on Wild Ride
3. WSJ — IEA Proposes Largest Ever Oil Release From Strategic Reserves
4. NYT — Iran U.S. Military Bases Strikes Map
5. NYT — Lebanon Evacuations, Israel Strikes
6. WSJ — Trump Says Iran War Nearly Won, but Israel Has Other Ideas
7. NYT — Senate Housing Bill