Fighting sent oil prices climbing
** Crude oil prices spiked early Tuesday after the Israeli Air Force conducted strikes on military targets in central and western Iran, the Israel Defense Forces said in a statement. The strikes followed an Iranian missile attack against Israel. This is the first time Israel has struck Iran since the April 8 ceasefire.
Latest on Strait
** The Strait of Hormuz will be open but under new conditions to be set by Iran and Oman, including a transit fee, Iran’s ambassador to Moscow was quoted as saying on Monday.
Still fighting
** U.S. forces struck Iranian coastal radar sites on Saturday after shooting down drones launched by Iran toward the Strait of Hormuz, the U.S. military said, in the latest escalation complicating efforts to end the war between the two countries.
Promised attacks
** Iraq’s Iran-backed Kata’ib Hezbollah militia has threatened to launch new attacks on US military bases in the region following renewed Israeli strikes on Iran. The group said overnight it would carry out the attacks if the United States were to join the Israeli strikes, launched in response to fresh Iranian attacks on Israel on Sunday evening.
US Energy
** Major oil companies aren’t showing interest in drilling in the Arctic National Wildlife Refuge, despite White House efforts to promote a development-friendly regime. Why it matters: Tepid bidding in Friday’s lease sale — and big oil companies sitting it out completely — shows one major area where the industry is not backing up Trump’s “drill, baby, drill” mantra, according to Axios.
** The Supreme Court sided 8-1 with the Federal Communications Commission against two telecom giants over a combined $100 million in fines. Chief Justice John Roberts wrote for the majority. The lone dissenter was Justice Clarence Thomas. Telecom companies AT&T and Verizon claimed the FCC violated their rights to a jury trial by issuing fines for an alleged violation of the law.
** The New York state legislature passes a one-year moratorium on data center development to give the state time to determine what regulations are needed on energy and water use.
** Twelve years after it was initially announced, Virginia’s first onshore wind farm is rising in the Blue Ridge Mountains. The project was beset by community opposition and delayed by three lawsuits, but turbines are now beginning to go up.
** An analysis of Texas data reveals excavators have damaged pipelines more than 4,800 times so far this year, sometimes causing gas leaks that can lead to explosions and frequently failing to contact a notification center to arrange for their repair.
** The Trump administration orders Orlando, Florida’s municipal utility to continue operating a 465-MW coal-fired power plant to support new data centers and other large loads.