Axios

President Trump said Monday he'll use a Cold War-era national security law to try and bolster domestic production of motor fuels and electricity.

Why it matters: His use of the Defense Production Act comes amid high gasoline prices during the Iran war, and rising power costs.

President Trump railed against Iran war critics in a series of Truth Social posts, insisting he's under "no pressure" to make a deal with Tehran as peace talks remained in limbo Monday.

The big picture: Ahead of a looming deadline for the ceasefire ending, Trump denied that Israel had dragged the U.S. into the war, saying "Time is not my adversary," for ending it and his eventual deal will be "FAR BETTER" than former President Obama's 2015 nuclear deal.

Oil prices are up around 6% Sunday evening after the weekend brought fresh escalation of the U.S.-Iran conflict.

Why it matters: The jump after international markets opened reverses a large chunk of the sharp decline Friday, when President Trump and Iran's foreign minister claimed the Strait of Hormuz was opening to tanker traffic.

American forces seized an Iranian-flagged cargo ship after it tried to bypass a U.S. naval blockade in the Gulf of Oman, President Trump said Sunday.

Why it matters: It's the first seizure and the first ship fired upon since the U.S. blockade went into effect last Sunday in response to Iran effectively holding the Strait or Hormuz hostage since the war began on Feb. 28.

U.S. average gasoline prices may not return to pre-Iran war levels under $3-per-gallon until next year, Energy Secretary Chris Wright told CNN Sunday.

Why it matters: The Iran war has driven up what had been fairly low U.S. gas prices, a spike that could hurt Republicans in the midterm elections.

U.S. beef supplies are shrinking, imports are rising and prices are stuck near record highs — with little relief in sight.

Why it matters: The all-American hamburger is becoming a luxury item, nudging consumers toward cheaper proteins like chicken and pork.

The world's largest data center project — backed by Trump allies and bearing his name — is stalled by delays and logistical hurdles that could stop it before it even starts.

• The latest sign of trouble emerged Friday: CEO Toby Neugebauer abruptly departed. That sent the company's shares, which already shed 75% in the last six months, plummeting in aftermarket trading.