House minority leader, Hakeem Jeffries, calls amendment ‘overly broad’ as party grapples with backlash over Israel

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Top House Democrats split on Tuesday over a proposal to block aid for Israel’s military, with two of the party’s highest-ranking lawmakers saying they will oppose the effort while the chair of the progressive caucus encouraged his colleagues to back the defunding.

The debate over an amendment introduced by Republican congressman Thomas Massie to halt $3.3bn in aid for Israel – the majority of which would go to its military – comes as Democrats grapple with a rebellion among their voters over the party’s support for the Middle Eastern ally, which has fueled the defeats of a series of congressional incumbents in recent primaries.

Recent strikes have sent oil prices climbing again, with average gas price per gallon up by $0.70 compared with 2025

Inflation cooled to an annual rate of 3.5% in June as the brief US-Iran ceasefire, which has since ended, brought energy prices down, according to new data from the Bureau of Labor Statistics.

The consumer price index (CPI), which measures a basket of goods and services, has been elevated since the start of the war, largely because of higher energy prices. After mostly staying under 3% since mid-2024, CPI reached a three-year high of 4.2% in May – up from 2.4% in February. Month-over-month, CPI fell 0.8% in June, the largest one-month decrease since April 2020.

Energy prices later stabilise after Trump abandons plan for 20% levy on traffic through strait of Hormuz

Oil and gas prices jumped and expectations of interest rate rises in Europe increased on Tuesday after the US carried out a third night of military strikes against Iran.

However, they later eased back after Donald Trump said he would abandon his proposal for the US to levy a 20% fee on cargo passing through the strait of Hormuz.