⚡ Today in History

On August 31, 1997, Princess Diana died in a car crash in Paris. In 1886, an earthquake near Charleston, South Carolina, killed more than 100 people. Today? Flash floods along the Nepal-China border have killed more than 675 people, with nearly 2,500 still missing.

Top News

US strikes Iran, breaking a monthlong lull 1ST STRIKE IN A MONTH

Islamic Revolutionary Guard forces were preparing to launch rockets carrying sea mines into the Strait of Hormuz, a passage that carries about a fifth of the world's oil. U.S. forces struck two Iranian launchers on Larak Island, inside the strait, on Sunday, marking the first American strike on Iran since late July. Iran's Revolutionary Guard confirmed casualties and vowed to retaliate, and Brent crude jumped nearly 3% Monday morning.

Russia's deadliest strike of the year kills 38 near Kyiv 38 KILLED

A Russian drone struck an ammunition depot in Myla, a village five kilometers west of Kyiv, late Friday night, sparking explosions that swept through nearby homes. President Volodymyr Zelensky said Sunday the death toll had climbed to 38, with four people still missing, making it the war's deadliest single attack so far this year. Russia's Defense Ministry has separately said it plans further large-scale strikes on Ukraine's power grid before winter.

Trump's Venezuela oil deal splits Congress

President Trump on Friday announced a 25-year agreement giving the United States majority control of more than 65 billion barrels of Venezuelan oil reserves, calling it the biggest oil deal in world history. Trump said the deal would lower American gas prices without costing taxpayers, but Virginia Senator Tim Kaine and other Democrats accused the administration of risking troops' lives to secure Venezuelan oil for corporate gain. Republicans countered that the arrangement keeps Venezuelan crude out of Chinese hands.

Nepal-China flood deaths climb past 675

Flash floods tore through villages along the Nepal-China border on Aug. 26, after heavy monsoon rain overwhelmed the Bhote Koshi river basin. Nepali authorities say at least 675 people have died and nearly 2,500 remain missing, including hundreds of foreign workers and tourists. The United States has pledged more than $3.6 million in emergency food and aid for affected households.

Wall Street futures dip as Iran conflict reignites

Dow Jones futures fell about 64 points and S&P 500 futures slipped 0.1% early Monday after the weekend strikes on Iran renewed fears of wider disruption to Middle East oil supplies. The pullback follows a strong August for stocks, with the Dow on pace for a fifth straight monthly gain and the S&P 500 and Nasdaq set for their first monthly gains since May.

World

Nepal flood toll passes 675 as search for missing continues 2,498 MISSING

Catastrophic flash flooding swept the Nepal-China border region on Aug. 26, when the Bhote Koshi River overwhelmed nearby settlements and hydropower sites. Nepali disaster officials say the confirmed death toll has reached 675, while roughly 2,498 people remain unaccounted for on both sides of the border. Nearly 900 Nepali workers on hydropower projects are among the missing, and the United States has sent more than $3.6 million in emergency aid.

Ukraine hits Russia's second-largest oil refinery

Ukrainian forces launched drone strikes overnight Saturday on the Kirishi oil refinery in Russia's Leningrad region, one of the country's largest, along with an airbase in Krasnodar. Independent monitors on Russian and Ukrainian channels reported the refinery caught fire after the attack. The strikes are part of a months-long Ukrainian campaign against the oil and gas revenue that funds Moscow's war effort.

Iran, Oman strike revenue-sharing deal for Hormuz

Iran and Oman agreed last week on a framework to share revenue from traffic through the Strait of Hormuz, the narrow waterway both countries border. Tehran stressed the arrangement does not guarantee the strait's immediate reopening to normal shipping levels. Roughly 6 to 8 million barrels of crude still move through the passage daily, far below the 22 to 24 million barrels that flowed before the war began six months ago.

Russia threatens new strikes on Ukraine's power grid

Russia's Ministry of Defense said this weekend it is preparing large-scale strikes on Ukraine's energy infrastructure, calling the move retaliation for Kyiv's drone campaign against Russian oil and gas sites. Ukrainian officials warn the coming winter could bring the worst blackouts since the full-scale invasion began in February 2022. During previous winters, Russian strikes on the power grid left thousands of Ukrainians without heat in freezing temperatures.

US Navy says it redirected dozens of tankers near Iran

The U.S. military said Sunday it has redirected 83 commercial vessels and disabled three more under its blockade of Iranian ports. A multinational coalition led by the U.S. Navy reported that traffic through the Strait of Hormuz remains well below normal levels. Separately, an unidentified projectile struck a tanker north of Khasab, Oman, on Saturday, according to the U.K. Maritime Trade Organization.

Politics

Trump touts “biggest oil deal in world history” 65B BARRELS

President Trump announced Friday that the United States has secured majority control of more than 65 billion barrels of Venezuelan oil reserves through a new 25-year agreement. Trump said the deal, negotiated by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, comes at no cost to American taxpayers and will lower gas prices over time. The arrangement grants a private operator a 100-year lease on 17 Venezuelan oil fields.

Democrats accuse Trump of trading troops for oil

Senator Chris Van Hollen of Maryland said Friday's announcement proves the administration risked service members' lives to benefit corporate interests. Senator Tim Kaine of Virginia questioned whether the deal would lower prices at all, noting that gas costs have already climbed since the war with Iran began six months ago. Both lawmakers sit on committees that oversee foreign policy and military affairs.

Republicans defend the Venezuela agreement

Ohio Senator Bernie Moreno argued that without the deal, Venezuelan oil would still be flowing to China at a discount under deposed leader Nicolas Maduro. Moreno said Friday the arrangement benefits both countries for generations to come. The White House has framed the deal as a central piece of its strategy to lower gas prices before November's midterm elections.

Trump plans to refill the Strategic Petroleum Reserve

The U.S. Strategic Petroleum Reserve fell below 300 million barrels earlier this month, down more than 100 million barrels from January levels. Trump said Sunday that oil purchased at cost from the new Venezuelan venture will help refill the reserve and supply the U.S. military. Officials have not disclosed the identity of the private company managing the new oil fields.

Legal questions surround the Venezuela oil pact

Harvard economist Ricardo Hausmann, a former Venezuelan planning minister, called the agreement a shameful deal negotiated without constitutional authority. Interim Venezuelan leader Delcy Rodriguez signed the pact after Nicolas Maduro's removal from power in January, but her government's legitimacy remains disputed internationally. Whether the U.S. Congress will get a vote on the arrangement's terms is still unclear.

Markets

Oil jumps as US-Iran conflict reignites BRENT +3%

Global benchmark Brent crude climbed above $90 a barrel Monday, gaining nearly 3%, after the U.S. military struck Iranian rocket launchers preparing to mine the Strait of Hormuz. U.S. crude followed, rising almost 2% to near $85 a barrel. The gains snap a weeklong slide that had pushed Brent down more than 5% as traders bet the conflict was shifting from military strikes to economic pressure.

Wall Street futures slip on renewed Iran tensions

Dow Jones futures fell 64 points, or 0.12%, early Monday, while S&P 500 futures slipped 0.1% following the weekend's U.S. strikes on Iran. The pullback followed a 0.25% decline for the S&P 500 on Friday after Federal Reserve Chair Kevin Warsh said inflation is not slowing as fast as policymakers would like. The Nasdaq Composite also fell 0.52% Friday, dragged down by chip stocks including Nvidia and Intel.

Stocks head for a strong August despite Friday's dip

The Dow Jones Industrial Average is up 2.1% for the month, putting it on track for a fifth straight monthly gain. The S&P 500 and Nasdaq Composite are headed for their first monthly increases since May, up roughly 3% and 4%. Artificial-intelligence-linked stocks led the advance, with Nvidia climbing more than 8% and Microsoft gaining 11% in August.

Gold, bitcoin hold gains as investors seek safety

Gold traded near $4,700 an ounce Monday, recovering from a weekly low after a soft dollar and rising Treasury demand lifted the metal. Bitcoin held near $78,000, down from an August high above $81,000 but still up sharply for the month. Both assets have benefited as investors move into scarce assets amid concerns over government debt levels.

Fed Chair Warsh signals rates could stay higher for longer

Federal Reserve Chair Kevin Warsh said Friday, in his first major speech since taking the role in May, that inflation is not meaningfully slowing. Warsh said the central bank needs more confidence that price pressures are easing before cutting rates further, calling the 2% inflation target "firm and fixed." His remarks pushed the 10-year Treasury yield up to 4.72% and lifted the dollar to its biggest gain in about a month.

Entertainment

Djokovic falls in five-set opener at US Open 4-TIME CHAMP OUT

Novak Djokovic, chasing a fifth US Open title, lost his opening match Sunday to Argentina's Mariano Navone in five sets. The defeat came on the first day of main-draw play at Flushing Meadows, where defending champion Carlos Alcaraz is also competing after an injury layoff. Djokovic struggled physically through the match's final two sets, according to the ATP.

Medvedev, Tommy Paul win their US Open openers

Former champion Daniil Medvedev defeated French qualifier Hugo Gaston in straight sets Sunday to open his tournament. American Tommy Paul needed four sets to get past Coleman Wong the same day. The tournament runs through Sept. 13 at the USTA Billie Jean King National Tennis Center in New York.

Grand Ole Opry pays tribute to Dolly Parton

Country music icon Dolly Parton died Aug. 25 at age 80. Nashville's Grand Ole Opry held a tribute concert this weekend celebrating her decades-long career and her Imagination Library literacy charity. Parton's charity has distributed free books to millions of children since it began in 1995.

Disney sets dates for Lilo & Stitch 2, Incredibles 3

Disney announced theatrical release dates for two long-awaited sequels this week. Lilo & Stitch 2 and The Incredibles 3 will follow the studio's recent slate of live-action and animated releases. Further plot and casting details have not been disclosed.

Netflix in talks for a KPop Demon Hunters tour

Netflix is negotiating with concert promoters to stage a live tour built around KPop Demon Hunters, the animated film that won best animated feature and best original song at the 2026 Oscars. The proposed tour would hit arenas worldwide in 2027, ahead of a planned sequel. Bloomberg first reported the talks Sunday.