Political risks and energy markets

We’re a quarter of the way through 2026, and the Trump administration is facing challenges at home and abroad. The president is at a critical moment on Iran as military pressure ramps up and the effect of diplomatic efforts remains murky. Meanwhile, the DHS shutdown drags into record territory with no clear end in sight. And a wave of Republican primaries could test just how strong Trump’s grip on the party really is. Dasha Burns and Jack Blanchard break down the big inflection points to watch.