US Senate has enough votes to pass measure to limit President Trump’s powers on Iran


The Senate has voted 55-45 in favor of a war powers resolution curbing Trump’s ability to launch military action against Iran without congressional authorization.

Market implications

This is highly positive for the geopolitical landscape considering how the threat of a war between the US and Iran would otherwise play havoc on global markets. Its a step towards peace between two nations, moreover, it's a bipartisan rebuke of the president's foreign policy that passed even after the White House threatened to veto the resolution. It is a second time that bipartisan senators have joined forces to rebuke Trump's Middle East policies. Trump was forced to pull US support from the Saudi-led coalition in the war in Yemen and blocking the administration's sale of arms to Saudi Arabia.

The price of WTI is slightly lower, capped in the 51.40s.

 

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