MJL Morning Briefing |
| From Matt Leonard · Monday, May 25, 2026 |
TOP STORY ⚡Trump announces near-final US-Iran framework; Strait of Hormuz reopening on the table Trump announced May 23 that the U.S., Iran and Middle East mediators have 'mostly landed' a 60-day ceasefire extension that would reopen the Strait of Hormuz and grant sanctions waivers for some Iranian oil, in exchange for Iranian commitments on suspending enrichment. Politico Playbook (cites Axios) |
National Politics Senate GOP reconciliation bill stalled by Trump's $1.8B 'anti-weaponization' fund Senate Majority Leader John Thune punted the ICE/CBP reconciliation package May 22 after 20+ GOP senators revolted against Trump's $1.8B 'anti-weaponization' fund; binding legislative fixes are being drafted ahead of the chamber's June 1 return. Punchbowl News AM Gunman killed at White House security checkpoint Secret Service shot dead 21-year-old Nasire Best in a gunfire exchange at a White House checkpoint the evening of May 23 while Trump was inside; a bystander was wounded, and Best had reportedly been involuntarily committed last year after a prior White House intrusion. Politico Playbook (cites AP, CNN) |
Energy Industry ⚡WTI tanks ~6% as Iran framework points to Strait of Hormuz reopening WTI crude fell to $90.88/bbl this morning (-5.9% day-over-day) on Trump's May 23 announcement of a US-Iran framework that would reopen the Strait of Hormuz and waive sanctions on some Iranian oil; PJM RTO real-time LMP cleared $15.13/MWh at 8:09 a.m. ET with Western Hub at $15.44, both off ~4-6% vs yesterday's snapshot. Tradingeconomics + PJM markets-and-operations snapshot |
Pittsburgh Sports Mitch Keller went 6 IP / 4 H / 1 ER / 5 K in a 4-1 win at Rogers Centre Sunday (W, 5-2); Oneil Cruz crushed a 415-ft solo shot, Spencer Horwitz homered in the 1st, and rookie Esmerlyn Valdez's first career hit was a two-run homer in the 6th. Pirates host the Cubs at 1:35 p.m. today (Mlodzinski vs. Brown). ESPN |
Market Snapshot | PJM West Hub (RT) | $15.44/MWh -3.9% | | PJM AEP-Dayton (RT) | $15.04/MWh -5.7% | | PJM Capacity 26/27 | $329.17/MW-day | | Henry Hub | $3.07/MMBtu | | WTI Crude | $90.88/bbl -5.9% |
As of May 25, 8:09 a.m. EPT (PJM RT) / May 18 (HH) / May 25 (WTI) |
Curated by Matt Leonard. Numbers from real endpoints only. |