Skip to content
You can now search across every topic, entity and event.What's new
European Oil Markets
13JUL

Trump flies east, desk still empty

3 min read
10:34UTC

Donald Trump boarded Air Force One for Beijing on 13 May with no Iran instrument signed. The White House presidential-actions index logged zero Iran entries across 12 and 13 May, extending the unsigned streak to Day 75.

EconomicDeveloping
Key takeaway

Trump flew to Beijing on 13 May with zero Iran instruments signed across 75 days of war.

Donald Trump boarded Air Force One for Beijing on the morning of 13 May 2026 without a signed Iran instrument on his way out. The White House presidential-actions index recorded zero Iran-related entries on 12 or 13 May; the only 12 May entry was a routine "Nominations Sent to the Senate" line 1. That extends the streak of zero signed Iran instruments to Day 75, past every modern wartime precedent for an active US blockade.

The departure timing matters. Pete Hegseth's 12 May Article 2 testimony before Senate Appropriations was the legal floor; Trump's physical exit with nothing in his red folder was the operational ceiling. The final pre-departure US action on Iran was Treasury, not the Oval Office: OFAC had designated 12 entities and individuals on 11 May, six of them Hong Kong-registered, plus Universal Fortune Trading LLC as a NIOC (National Iranian Oil Company) front 2. That package was Treasury-initiated, not a presidential executive instrument. The Hong Kong target list was deliberately calibrated to fit inside the summit window : it pressures Iran's oil-logistics network without forcing Xi Jinping to publicly invoke MOFCOM's Blocking Rules during the week he hosts the American president.

Trump's 11 May Oval Office remarks listed three military options (resuming bombing of the remaining identified targets, a Special Forces seizure of Iran's enriched uranium, and a ground takeover of part of the strait), all sitting alongside zero accompanying executive orders, deployment directives, or CENTCOM operational orders. Two days later he flew east with the same blank desk. Axios sources told the outlet they did not expect any Iran kinetic decision before he returns to Washington on 15 May. The Day 75 streak is now framed at one end by a cabinet officer's sworn defence and at the other by a presidential flight to the mediator country.

Deep Analysis

In plain English

When the US president takes major military decisions, like launching a blockade or deploying tens of thousands of troops, there is normally a paper trail. The president signs executive orders, deployment directives, and formal findings that create a legal record of what was decided and why. Since the war with Iran began 75 days ago, President Trump has signed none of these documents on Iran. On 13 May he boarded Air Force One for a summit with China's president Xi Jinping in Beijing, and left with his desk still empty. The last US action on Iran before he flew was a Treasury Department sanctions package. That was a bureaucratic measure, not a presidential order. No one in the White House has explained why no paperwork exists, but a senior official told Congress the day before that the president does not need any.

Deep Analysis
Root Causes

The zero-instrument streak runs from a structural feature of how the Trump 2.0 administration has chosen to conduct the Iran campaign: verbal-track authority substituting for signed presidential instruments at every stage. Operation EPIC FURY was announced via Truth Social. Trump declared the naval blockade in a press briefing on 1 March with no accompanying executive order.

CENTCOM's escort-force order deploying 15,000 personnel to the strait was issued verbally, with no accompanying deployment directive or finding. Each decision that would normally produce an executive order, deployment directive, or finding has instead produced a press briefing or social media post.

The proximate cause of the Day 75 gap is that signing an instrument would require the administration to name specific authorities, define the scope of hostilities, and create a paper record that opposing counsel or a future administration could cite. The verbal track eliminates that record. Trump's departure for Beijing without a signed instrument is consistent with this design; the absence of paper is a structural feature, not a clerical oversight.

What could happen next?
  • Risk

    Trump's return from Beijing on 15 May without a diplomatic breakthrough resets the escalation clock with no legal brake available; Hegseth's Article 2 testimony removed the congressional constraint the same day Trump departed.

  • Opportunity

    If the Xi summit produces a framework for the Pakistan channel, Trump could sign a first Iran instrument as a ceasefire signal rather than an escalation order, converting the unsigned streak into a diplomatic asset.

First Reported In

Update #96 · Hegseth: no AUMF needed. Trump flies east

The White House· 13 May 2026
Read original
Different Perspectives
Indian refiners
Indian refiners
Indian refiners kept lifting discounted Urals as the India/Baltic price split widened past $9-10 a barrel, a gap that only grows as GL X1's Iranian wind-down cuts an alternative discounted grade off the market by 17 July. Cheaper Russian feedstock is being locked in while it lasts.
Chinese refiners
Chinese refiners
Chinese refiners gain leverage as the Urals-Brent discount widens, since Beijing's state buyers already source discounted Russian barrels near the fiscal floor unaffected by Western insurance costs. A wider discount, if it holds past 23 July, lets them lock in cheaper term contracts regardless of the cap's outcome.
US money managers (CFTC-tracked)
US money managers (CFTC-tracked)
Managed money trimmed WTI net length into the rally, positioning that reflects doubt the Hormuz premium survives without freight or war-risk confirmation. The Brent-WTI spread widening almost entirely on the Brent leg supports that scepticism about a broad-based repricing.
OPEC+ (Saudi-led subgroup)
OPEC+ (Saudi-led subgroup)
Saudi Arabia is defending market share through a fourth straight 188kbd August hike even as OPEC's own July MOMR cut 2026 demand growth for the fourth consecutive month. At a $108-111 fiscal breakeven, every added barrel costs Riyadh revenue it cannot recoup, so the hike reads as a positioning signal, not a demand bet.
Greek shipping registries
Greek shipping registries
Greece, backed by Cyprus and Malta, is pushing a three-month cap-freeze compromise against the Commission's freeze to January 2027 ahead of the 23 July vote. Athens' and Valletta's combined tanker registrations mean a shorter review gives their insurers more frequent chances to reprice risk on Russian cargoes.
Russia (Deputy PM Alexander Novak)
Russia (Deputy PM Alexander Novak)
Novak extended the diesel export restriction to producers on 8 July, the first producer-binding curb of the war, protecting the domestic pump price ahead of any refinery repair timeline. Urals still trades below Russia's $59 budget floor even as Brent gained, so the ban trades export revenue for fiscal stability at home.