How The Israel-Iran War Is Reordering the Middle East

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  How the war between Iran and Israel is realigning the Middle East.

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  One of the driving motivations for Saudi Arabia to normalize with Israel was to deepen cooperation in countering Iran.

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  That threat is much less intense for Saudi Arabia than it once was,

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  and so that incentive is not as strong as it once was.

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  Plus,

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  oil companies are enlisting President Trump to push back against Europe's environment rules.

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  And Anna Wintour is ending her 37-year tenure as editor-in-chief of American Vogue.

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  It's Thursday, June 26th.

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  I'm Alex Osela for The Wall Street Journal.

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  This is the PM edition of What's News,

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  the top headlines and business stories that move the world today.

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  Oil executives have enlisted President Trump in fights against climate rules across the U.S.

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  Now they have won his support in their effort to quash Europe's flagship environment rules.

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  Colin Eaton writes about oil companies for the journal and joins me now.

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  Colin, what have the oil companies been pushing for?

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  They're asking the president and his trade and economics team to use the trade negotiations to push for a full rollback.

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  of a law that's called the Corporate Sustainability Due Diligence Directive.

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  It requires any company with over 450 million euro in revenue in Europe to report their carbon emissions,

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  not only for their own operations, but also that of their suppliers.

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  And if you're thinking about a global oil company like Exxon or Chevron or Shell,

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