#SenateRejectsIranWarPowersResolution
Congress Splits Again on Iran. Oil Crosses $100 for the First Time This War.
The Senate voted 47 to 49 on Thursday to reject a war powers resolution, led by Senator Chris Van Hollen, that would have directed the withdrawal of US forces from hostilities against Iran absent explicit congressional authorization. Senator Susan Collins crossed party lines to support advancing the measure. Senator John Fetterman was the sole Democrat opposed. Senators Murkowski and Rand Paul, both of whom backed similar resolutions earlier this year, did not vote.
This marks the third such rejection in 2026, following failed attempts in March and June. The pattern is consistent. Congress keeps voting, and the outcome keeps holding, even as a growing number of Republicans have voiced concern over mounting casualties and the war's duration.
The more consequential development occurred the same day in the House, which passed a separate, non-binding resolution 214 to 208 rebuking the administration's Iran policy. Unlike the Senate measure, it requires no presidential signature and carries no legal force, but it represents the clearest bipartisan discomfort with the conflict registered by either chamber so far.
The most significant new data point is economic. Oil crossed $100 per barrel for the first time since this conflict began, following President Trump's notification to Congress that hostilities had formally resumed after peace negotiations collapsed. This represents a meaningful escalation from the $68 to $91 range we have tracked in recent weeks, with direct implications for inflation expectations and monetary policy heading into the coming months.
$BTC $ETH
Congress Splits Again on Iran. Oil Crosses $100 for the First Time This War.
The Senate voted 47 to 49 on Thursday to reject a war powers resolution, led by Senator Chris Van Hollen, that would have directed the withdrawal of US forces from hostilities against Iran absent explicit congressional authorization. Senator Susan Collins crossed party lines to support advancing the measure. Senator John Fetterman was the sole Democrat opposed. Senators Murkowski and Rand Paul, both of whom backed similar resolutions earlier this year, did not vote.
This marks the third such rejection in 2026, following failed attempts in March and June. The pattern is consistent. Congress keeps voting, and the outcome keeps holding, even as a growing number of Republicans have voiced concern over mounting casualties and the war's duration.
The more consequential development occurred the same day in the House, which passed a separate, non-binding resolution 214 to 208 rebuking the administration's Iran policy. Unlike the Senate measure, it requires no presidential signature and carries no legal force, but it represents the clearest bipartisan discomfort with the conflict registered by either chamber so far.
The most significant new data point is economic. Oil crossed $100 per barrel for the first time since this conflict began, following President Trump's notification to Congress that hostilities had formally resumed after peace negotiations collapsed. This represents a meaningful escalation from the $68 to $91 range we have tracked in recent weeks, with direct implications for inflation expectations and monetary policy heading into the coming months.
$BTC $ETH