Axios

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.

Some red state lawmakers are floating legislation that would make it easier to use gold and silver as currency and to establish gold stockpiles.

Why it matters: Lawmakers say that the commodities are a good option for dealing with the burden of rising inflation because the value of gold and silver has increased, while the dollar has not.

Chinese President Xi Jinping has spent the Iran war doing what he does best — patiently exploiting America's distraction and discord.

Why it matters: The conflict allowed China to bolster its diplomatic leverage, clean-energy muscle and intelligence on the U.S. military — all without firing a shot or spending a dollar.