Amy Morris

Iran's deputy foreign minister says Tehran will set tolls for ships passing through the strait.

Oil surged after President Trump, during his address to the nation last night, vowed an escalation in the war in Iran over the coming weeks.

Bloomberg Intelligence Senior Commodity Strategist Mike McGlone.

It takes everything down, and then it will eventually go down.

Bloomberg's Mike McGlone.

WTI now up more than 11% at $111 per barrel.

Brent crude is up nearly 7% at about $108 per barrel.

And we do check the markets for you all day long here at Bloomberg.

The S&P 500 down a tenth of a percent.

NASDAQ down a tenth of a percent.

The Dow down two-tenths of a percent.

The 10-year Treasury yield at 4.3%.

And the two-year yield at 3.79%.

Bitcoin is 2% lower, around $67,000.

Shares of top asset managers slid after Blue Owl Capital said it will limit redemptions from two of its private credit funds after facing a surge in withdrawal requests.

Oak Tree Capital Management CEO Armin Pinocian tells Bloomberg TV, this is not a private credit problem.

It's a vintage problem.

Blue Owl stock is down more than 1% after hitting a record low earlier in the day.

Apollo Global Management fell by more than 2%.

Apollo's Jim Zelter says the current economic backdrop is strong, despite some concerns around inflation and stagflation.