The Federal Communications Commission has ordered an early review of ABC's broadcast licenses following a recent clash between President Trump and Jimmy Kimmel. Meanwhile, the Supreme Court is currently considering President Trump's effort to end protections for Haitian and Syrian migrants.

In other news, a Senate committee is preparing to vote on Kevin Warsh's nomination for Federal Reserve chair. The search has concluded for the missing crew of a U.S. ship that overturned during a typhoon.

Additionally, the director of Camp Mystic has issued an apology to families affected by recent floods, expressing devastation over the situation. Starbucks has raised its full-year outlook amid a turnaround, despite rising gas prices. U.S. airlines are increasing fares, yet travelers continue to book flights.

Other headlines include the United Arab Emirates' departure from the OPEC oil cartel, which is noted as not without precedent. President Trump has also met with oil executives amid ongoing tensions with Iran.