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April 8, 2026 -
Oil prices are falling and stocks surging as investors cheer a last-minute cease-fire agreement in the war with Iran that offers hope energy shipments through the Strait of Hormuz may soon resume. Responding to the ceasefire, both gold and copper prices climbed to a near three-week high, while coal prices retreated, as concerns eased over the conflict’s impact on the global economy. And digging further into the Trump administration’s 2027 budget request, the White House is asking for 18 billion dollars for the Department of War to spend on the national defense stockpile of minerals and metals essential to military readiness.
This request is separate from the administration's plan for an additional $12 billion stockpile dubbed “Project Vault,” which will serve as a strategic minerals reserve to insulate the economy from mineral supply chain shocks.
National Mining Association president and CEO, Rich Nolan, recently called for an expansion of the defense stockpile in an op-ed, writing, “Now is the time for Congress to reinvest in U.S. mineral security and recognize the irreplaceable importance of domestic production.”
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