Oil Prices Jump as Trump Vows ‘Extreme’ Strikes on Iran and Footwear Company Allbirds Sells Its Assets

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L.A. Times Studios

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🗓️ 3 April 2026

⏱️ 7 minutes

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Summary

President Trump said the Iran war is “nearing completion” while warning the U.S. will strike Iran extremely hard over the coming weeks. Oil prices jumped as traffic through the Strait of Hormuz remained shut down, with global benchmarks climbing above $100 a barrel. In California, a fight over AI infrastructure is growing, with a proposed $40 million data center in Monterey Park facing backlash over cost, noise, and pollution. Meanwhile, Governor Gavin Newsom is drawing criticism for a more aggressive social media strategy that pokes fun at conservatives. In business, the eco-friendly footwear company Allbirds has agreed to sell its assets to American Exchange Group for a fraction of its previous $4 billion valuation, and Trader Joe’s continues its steady growth with new locations in Paso Robles and Anaheim Hills. Read more at https://LATimes.com.

Transcript

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0:00.0	This is an L.A. Times Studios podcast. As I stated in my announcement of Operation Epic Fury, our objectives are very simple and clear.
0:33.6	We are systematically dismantling the regime's ability to threaten America or project power outside of their borders.
0:41.3	That means eliminating Iran's navy, which is now absolutely destroyed.
0:47.3	Trump also has reiterated his threat to blow Iran back to the Stone Age.
1:03.0	This is coming as there is no sign of Iran accepting a ceasefire in the war that Trump launched with Israel on the Islamic Republic back in February 28th.
1:13.6	And it also is signaling that Trump has an awareness that any operation to try to seize the highly enriched uranium
1:22.6	likely entombed at Iranian nuclear sites would take months. The closure of the Strait of Pormos by Iran is dealing a devastating blow to Iraq's economy.
2:06.6	Iraq depended on access to that strait in order to export the majority of its oil.
2:13.6	And now that oil has nowhere to go effectively.
2:22.7	Remember that 90% of Iraq's state budget is derived from oil sales.
2:28.3	And we were told that before the war, Iraq was producing more than 4 million barrels of oil per day.
2:52.2	And that number has been reduced drastically up to potentially 70% is what we're hearing. and the people are the people who are a lot of people. And then, and the other, and the other,
2:53.8	the next to the people,
2:56.0	and the people, and the people who are
2:58.2	the people who are just a different.
3:01.2	We could,
3:02.2	the people who are just so much,
3:04.2	and the people who are going to be.
3:06.2	And we're going to be. And I can't see of the people who are people who are going to be. We're going to be a lot of the same. And it's a very, and the people are just a good. And I can't get a different and the time for this. And I think it's a lot of the same. I'm going to have a lot of the point.
3:27.0	And I think of the United States.
3:30.0	And I think of the
3:32.0	and I think of the people who are just
	...

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