The U.S. naval blockade of Iranian ports went into effect today, marking an immediate escalation in Middle East tensions. Oil prices jumped as markets absorbed the impact of restricted energy supplies through the Strait of Hormuz, while U.S. stocks dipped in response [CBS News]. The blockade threatens to deepen a global energy crisis that's already reshaping geopolitical advantage—China is leveraging the disruption to expand its clean energy dominance [AP News].

Meanwhile, Hungary's political earthquake continues to reverberate. Viktor Orbán's stunning 16-year grip on power ended in electoral defeat, with opposition leader Peter Magyar calling for parliament to convene early [Al Jazeera]. The result is already being hailed across Europe as a major setback for Trump-aligned authoritarianism.

On the domestic front, new details emerged about the Trump administration's budget priorities: the plan prioritizes defense spending while drawing criticism for what opponents call neglecting social needs [The Hill]. Separately, Trump faced backlash over an AI-generated image depicting him as Jesus, adding to ongoing controversies [The Hill].

California's gubernatorial race saw a major shift as Rep. Eric Swalwell exited the Democratic primary following assault allegations [PBS]. And in higher education, new projections show more than a quarter of private colleges face closure risk—a story gaining urgency as enrollment pressures mount [NPR].

On Capitol Hill, Democrats are building midterm momentum, though Republicans maintain their Senate majority advantage heading into 2026 [Fox News].