Summary

Senate Foreign Relations Committee set for Monday morning vote on preliminary subpoena authorization after administration silence on classified briefing demand entered ninth day. Armed Services Committee confirmed parallel constitutional authority hearing scheduled for early July, with joint session with Foreign Relations under discussion. State Department provided no timeline for compliance despite mounting bipartisan pressure. Markets closed for weekend with oil prices stabilized near pre-war levels as Persian Gulf shipping traffic continued recovery to 75% of pre-war volume.

What to Watch

• Monday 10 AM ET Foreign Relations vote — subpoena authorization expected to pass with bipartisan support; would authorize chairman to issue formal subpoenas to State Department and National Security Council
• Administration response window — ninth day of silence on 47-senator briefing demand; no signals of compliance before Monday vote
• Armed Services constitutional hearing — scheduled for July 2-3 week; joint session with Foreign Relations possible to streamline war powers review
• House Foreign Affairs positioning — lower chamber leadership considering parallel subpoena authority after Senate action
• Trump-Netanyahu meeting status — remains unscheduled; fourth postponement would mark month-long gap since April 6 Iran deadline expired
• Oil market stability test — Brent holding $72-73 range despite ceasefire violations; demining progress on track with Hormuz traffic at 75% of pre-war levels
• Goldman Sachs forecast update — cut Q4 2026 Brent to $80/bbl (from $90), expects Gulf exports to fully normalize by end of July

Sources

This report draws from Reuters, AP, BBC, CNN, Guardian, Foreign Policy, Axios, and Financial Times. All claims are attributed with inline source links above.

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