Ahead of July 4, California’s average gasoline price has climbed to $5.40 per gallon, up $0.83 from $4.57 a year ago, according to the American Automobile Association. Nationwide prices have also risen, with the national average at $3.84 per gallon, as the war in Iran has tightened global oil supplies. California’s increase in its gasoline excise tax to 63.4 cents per gallon on July 1, along with limited local refining capacity and stronger seasonal demand, has added to the state’s outsized jump. Prices in areas including Los Angeles, San Francisco and Mono County are running well above the national average.

The U.S. government has permitted Anthropic to redeploy its Claude Mythos 5 model to about 100 approved U.S. organizations, partially rolling back a June 12 export-control order that had cut off access. At the same time, OpenAI said it is delaying a full public launch of GPT5.6 at the government’s request and will limit availability to a small set of vetted partners. The moves reflect U.S. national security concerns that frontier AI models could be misused by military intelligence services in China, Russia and other countries of concern. Both companies are planning to go public, but the pace of releases, eligibility standards and transparency remain uncertain under the current oversight approach.

The International Maritime Organization said Iran and Oman will coordinate the evacuation of more than 11,000 seafarers stranded in the Strait of Hormuz. Brent futures fell to $73.13 a barrel, their lowest level since Feb. 28, while WTI slid 3.8% to $70.43 and briefly dipped below $70. U.S. gasoline retail prices have declined for a sixth straight week to $3.93 a gallon, though analysts say changes at the pump typically lag oil prices by about two weeks. Some experts also warn that fully restoring tanker traffic could take up to six months.

The United States and Iran signed a 60-day memorandum to continue nuclear negotiations, and Washington formally waived oil sanctions on Tehran for two months, opening a path for Iran to unlock as much as $10 billion in export revenue. Over the same period, the national average gasoline price slid to $3.93 a gallon, down 14% from a May peak, and Brent crude fell below $80 a barrel. Although later talks broke down and fresh reports emerged of another blockade in the Strait of Hormuz, expectations of near-term supply increases have already weighed on energy prices.

SpaceX disclosed plans to raise ~$20 billion via senior unsecured bonds to fund AI development and space-based data centers. The move follows its record $86 billion IPO and comes amid rapid cash burn — $10.1 billion spent in Q1 2024, $7.7 billion of which went to AI. The article notes Alphabet, Amaz

Nevada has confirmed large lithium reserves, accelerating job creation and the state’s push to diversify beyond gaming. Professional and business services, education and health services, and mining-related roles have posted notable gains. The state’s workforce grew 1.9% in 2025–2026, the fastest pace nationwide, accounting for 12% of U.S. job growth over the same period. Lithium’s role in AI infrastructure—such as data-center backup power and EV batteries—has heightened attention on the value of localized supply.

General Motors replaced more than 1,000 workers with 50 collaborative robots at its Factory Zero plant in Detroit, citing weaker EV demand and pressure to cut costs. The facility has paused production multiple times, and the United Auto Workers has opposed the move and filed safety grievances. The dispute underscores strain on GM’s EV push and its operations, which could weigh on investor confidence in the company’s path to profitability and capital spending efficiency.

California’s Second District Court of Appeal upheld an injunction obtained by the California Coastal Commission that bars Sable Offshore Corp. from repairing and restarting the CA-324 and CA-325 oil pipelines linking offshore Santa Barbara platforms to refineries outside the region. The lines have been shut since the 2015 Refugio oil spill, and Sable sought to proceed under coastal development permits issued in 1986 after acquiring the assets in 2024. Regulators said the work required additional approvals, and the court rejected Sable’s procedural challenge, confirming the commission acted within its authority.

Regional burger chains such as In-N-Out, Whataburger and Culver’s are posting strong sales growth in 2025, while McDonald’s is contending with sharp price increases and weaker same-store performance. McDonald’s menu prices have risen by more than 100% over the past decade, and the share of U.S. customers who say it offers good value fell from 55% to about 40% between 2020 and 2024. Even as McDonald’s rolls out upgraded burgers and refreshes stores, consumers are shifting toward regional brands that emphasize quality and experience. The shift points to eroding competitiveness in core fast food burgers and adds fundamental pressure on McDonald’s stock.