By Emma Tucker
Escalating attacks on Persian Gulf oil-and-gas infrastructure are sending the Iran war into a dangerous new phase. The strikes on facilities in Iran, Qatar, and Saudi Arabia place vital energy hubs at the center of the conflict. As one analyst told the Journal, these tit-for-tat volleys open the door to more infrastructure attacks across the Gulf. Meanwhile, President Trump is pressing aides and allies to find ways to reopen the Strait of Hormuz as gas prices climb -- an effort that may ultimately rely on the U.S. Marine Corps.
Today's Headlines
Oil and gas prices spiraled higher as attacks on Middle Eastern energy infrastructure fueled anxiety over supply. Follow our live coverage of the war.
The resignation of Joe Kent as chief U.S. counterterrorism officer has exposed a bitter MAGA-influencer divide.
Trump wants Chair Jerome Powell out of the Federal Reserve, but Powell says he will stay on the board until the Justice Department probe ends -- and maybe longer.
Economists surveyed this week by the Journal don't see a recession unless oil hits $138 -- and stays there for weeks.
Russia's shadow-fleet kingpin and premier oil trader has turned the Iran war to his favor, selling shiploads of oil that until recently was adrift at sea.
Live From The Markets
Being "the next Warren Buffett" sounds like an honor. It's more of a curse.
Apple is way behind in artificial intelligence -- and still making a fortune from it.
Makers of electric-vehicle batteries are pivoting to make energy storage for data centers and utilities, including the likes of Ford Motor, writes Jinjoo Lee.
Read It Here First
A U.S. citizen now runs Mexico's top drug cartel -- and targeting him is complicated.
The latest kingpin of the Jalisco New Generation Cartel is potentially complicating U.S. efforts to eradicate Mexico's narcotics trade. No sooner was slain leader Nemesio "El Mencho" Oseguera buried in a golden coffin in early March than his California-born stepson began ascending to the throne, Mexican and U.S. officials said. U.S. intelligence agencies may now face legal hurdles in targeting and collecting personal data on Juan Carlos Valencia González because of his place of birth. That risks hindering a significant tactical partnership that has developed between Mexico's president and Washington, report José de Córdoba, Santiago Pérez and Steve Fisher.
China hoped a Trump summit would cement its superpower status. Now Xi Jinping has to wait.
A U.S. request to delay the president's visit to Beijing served as a frustrating reminder for China that Washington still drives the global agenda.Trump, deciding he needed to stay put to manage the Iran war, asked to bump back the summit by "a month or so." The move signals that U.S. security concerns remain far more important than honoring China's diplomatic calendar or bolstering Trump's personal connection with Xi. The request has been met with a mix of quiet irritation and public dismissal in Beijing, reports Lingling Wei.
Expert Take
Q: How is a tighter job market affecting workers' pay?
The corporate ladder feels more like a slide to people whose roles are being devalued in today's cooler job market, writes columnist Callum Borchers.
A: While some Americans are still upping their earnings, federal data show overall wage growth has been slowing since 2022. More than a quarter of people who recently switched jobs took pay cuts, according to ZipRecruiter.
A compensation reset was probably inevitable after companies hoarded talent and dangled big raises a few years ago. Still, the job-market correction is sharper than a lot of workers and economists expected amid breathless hype about AI.
The job switchers' premium has been dwindling for a while. Early this year it shrank to 1.9 percentage points, according to payroll software provider ADP, the smallest since 2020.
Job seekers aren't the only ones feeling downward pressure on salaries. People who are employed can't assume the customary pay bump is coming this year.
Client surveys from consulting firm Korn Ferry indicate an average raise this year will be 3.2% to 3.6%, but there may be a wide range. Highly valued employees could receive 1.5-to-2 times that amount. Others might get little or nothing.
At the same time, bonuses are shrinking, and fewer employees are receiving them, according to ADP.
It's a commentary on how bosses view their charges at the moment. Managers are focused on retaining key players; just about everyone else is replaceable.
See The Story
I dogsledded across Greenland to test the reality of Trump's Arctic ambitions.
The Journal's Sune Engel Rasmussen traveled to eastern Greenland, traversing remote icy expanses for days by plane, fishing boat and dogsled, to reach one of the abandoned American military bases from World War II. The challenges he faced highlight the logistical costs and toxic legacy facing Trump's designs for the island.
Trump's Greenland pursuit has given Danish Prime Minister Mette Frederiksen a new lease on life.
Happening Today
Defense Secretary Pete Hegseth and Air Force Gen. Dan Caine are set to hold a press briefing about the Iran conflict at 8 a.m. ET. Watch live here.
The Bank of Japan, European Central Bank and Bank of England are due to make interest-rate announcements.
Earnings: Alibaba, Accenture, FedEx
Number Of The Day:
9%
Nearly one in 10 people who had Affordable Care Act plans last year dropped health insurance altogether after premium costs rose sharply because of the expiration of federal subsidies, according to a survey from health-research nonprofit KFF. Last year, more than 20 million people had ACA policies. The survey is the broadest look yet at the fallout from the ending of enhanced ACA subsidies, which lapsed at the start of this year. Higher healthcare costs have forced many policyholders to make difficult trade-offs as grocery and gas prices also climb.
And Finally...
Suddenly everyone in San Francisco is a "builder," whatever that means.
San Francisco has long been a city of builders, a label once largely reserved for developers in the tech industry. But thanks to advancements in AI, a few well-crafted prompts in vibe-coding programs like Claude Code and Replit are all you need to create your own apps, websites and AI agents that can automate aspects of your workflow. Now everyone's a builder: marketers, product managers, people working in the construction industry, tweens. The term is appearing in profiles all over LinkedIn and in social-media posts.
(END) Dow Jones Newswires
March 19, 2026 06:24 ET (10:24 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
