The U.S. military conducted strikes Monday on Iran’s Qeshm Island, after Iran reportedly shot down an American drone and unsuccessfully targeted two American fighter jets. U.S. officials framed the move as a limited response targeting Iranian missile launchers, not a return to major combat operations. “This was a defensive measure for Iranians using surface-to-air missiles against U.S. assets,” one unnamed defense official told NBC News. President Trump had previously pledged not to strike Iran before the U.S. midterm elections.

On Tuesday morning, President Trump announced that the United States would halt direct aid to Israel by the end of the year. “Now, as far as paying Israel, Bibi Netanyahu and I have made a deal that we give Israel $4 billion ⁠a year, and ⁠we made a deal months ago that we’re stopping,”  Trump said in an interview with Fox News. The specifics of this remain unclear, particularly given Congress’ role in appropriating funds for assistance to Israel.

Brent opened at $104.45 Monday, down slightly from its previous close. AAA reports the average price of regular gasoline in the United States is $4.15 per gallon, and the average price of diesel is $6.29 per gallon.