Newsweek is reporting that U.S. oil stockpiles are rapidly shrinking, with crude inventories showing consecutive weekly declines. It said exports are surging and emergency reserves are being tapped to cushion the impact of the war with Iran on global energy markets. This decline is eroding a critical safety buffer, according to analysts.
President Donald Trump has defended a peace deal he says the U.S. is nearing with Iran, following criticism from hardliner Republican lawmakers. Newsweek said Trump stated the agreement would appear weaker than what was established before the war. Critics, including former Secretary of State Mike Pompeo, have condemned reported elements of the draft agreement, particularly the omission of Iran's nuclear capabilities. Trump rejected comparisons to the 2015 Joint Comprehensive Plan of Action, asserting the current negotiation is "the exact opposite."
The fast-food chain Wendy's is fighting for survival, having lost its competitive edge over the past half-century. Newsweek reported the company has experienced a sustained sales slide, a shrinking U.S. footprint and a significant drop in its share price. Robert D. "Bob" Wright was named the new president and chief executive officer, effective May 21, as the company attempts a turnaround.
In politics, President Donald Trump called Texas Senator John Cornyn "VERY disloyal" on social media, backing Attorney General Ken Paxton in Tuesday's Senate primary runoff. Trump criticized Cornyn for not sufficiently supporting the "SAVE AMERICA ACT." Separately, Newsweek said Mike Lindell is unlikely to win Minnesota's Republican gubernatorial primary or the general election, according to polling, betting odds and election forecasts.
Newsweek also provided a breakdown of major retailers, grocery chains, pharmacies and liquor stores open on Memorial Day. It reported that Disneyland in Anaheim, California, remains fully operational and unaffected by a hazardous materials crisis several miles away. Additionally, U.S. immigration authorities clarified a policy that could allow many H-1B visa holders to apply for a green card without leaving the country. A new nationwide analysis identified the best states for military retirees.
Internationally, Newsweek reported Russia launched a massive aerial assault on Ukraine, killing at least four people in Kyiv and injuring many more. President Volodymyr Zelensky said Russia used the Oreshnik hypersonic missile. The conflict with Iran continues to affect Iraq, which has become an active battlefield despite an ongoing ceasefire. Southern California emergency officials found a potential crack in a volatile chemical tank at the GKN Aerospace facility in Garden Grove.