Capitol Hill Happenings: Today in Congress

Continuing political instability in Egypt continues to dominate the headlines and the markets. While the nation isn't a large producer of oil, it does control the Suez Canal, through which 600,000 barrels of crude oil and 1.2 million barrels of refined oil products travel per day. Uncertainty in the region has driven the price of oil above $100 a barrel, as other commodity prices continue to rise. The Senate Energy Committee holds a 9:30 a.m. ET hearing to discuss the economic outlook with a panel of oil and energy market experts.

In Iraq, the combat mission may be over, but the United States still has a significant footprint in the fledgling democracy. The U.S. Ambassador to Iraq James Jeffrey and Gen Lloyd James Austin, the commanding general of United States forces update the Senate Armed Services Committee on the ongoing security and diplomatic missions there at 10:00 a.m. ET.

Sens. Joe Lieberman, I-Conn., and Susan Collins, R-Maine, release their report on the November 5, 2009 shooting at the Fort Hood Army base that killed 13 people and wounded 32 others. The senators say that the U.S. government failed to prevent the tragedy.

On the floor, the Senate will continue to debate a spending bill for the Federal Aviation Administration. Among other things, the legislation would update the nation's flight tracking system, which supporters say would cut down on flight delays and other air travel headaches.

We'll be following all these stories and more, so be sure to stay with Fox News for all the latest.