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Happy Father’s Day. I’ll be spending the morning (spoiler alert, dad!) trying to make eggs Benedict. Or, should my hollandaise fail to emulsify, just eggs I suppose. Wish me luck. On to the top business news!

June 9–15

What’s Up?

Dangerous Waters

Oil prices ticked up after two tankers were attacked in the Gulf of Oman, a shipping gateway for much of the world’s petroleum. The strikes are part of a pattern — four other oil tankers saw similar attacks in the same area in May. Trump administration officials were quick to blame Iran, which has a motive to choke the market: As a major oil exporter, the country would benefit from higher prices. The Japanese operator of one of the tankers, though, expressed doubt about that theory, and Iran has denied involvement in the attacks. Will this mess affect your wallet? Possibly not — the slowing global economy has weakened the demand for oil. But if the conflict escalates, it’s a different story.

Mergers Department, Please Hold

T-Mobile and Sprint, the country’s third- and fourth-largest wireless carriers, dressed up their merger as a great way to expand the country’s 5G network. A win-win, right? But a group of states has filed a lawsuit to block the $26 billion deal, saying it may come at an unfair price. The state officials, all of whom are Democrats, argue that the merger breaks antitrust laws and could lead to higher costs for consumers. The action poses a direct challenge to federal regulators, particularly Republican ones, who support the deal. To salvage it, the Justice Department has now asked the companies to sell multiple assets and create a new wireless competitor, which could weaken the opposition’s case.