Doug Krisner

declined in late U.S.

trading.

And that is news when you want it.

With Bloomberg News Now, I'm Doug Krisner, and this is Bloomberg.

News when you want it.

With Bloomberg News Now, I'm Doug Krisner.

The U.S.

and Iran failed to strike a peace deal over the weekend, and in response, President Trump said the U.S.

will begin a full naval blockade of the Strait of Hormuz beginning Monday.

Here is Trump speaking tonight to reporters.

That was President Trump speaking to reporters at Joint Base Andrews.

Now, the Wall Street Journal is reporting countries in the Mideast are racing to bring the U.S.

and Iran back to the negotiating table, and they are also talking with the U.S.

to get an extension of a fragile two-week ceasefire announced last Tuesday.

However, tonight, President Trump told reporters he doesn't care if the Iranians return to the table for negotiations.

Now, a full naval blockade of the Strait of Hormuz is being viewed by markets as a re-escalation.

At the end of last week, markets began to price in a peace dividend.

But now, in Asian trading, oil prices are rallying.

And a key question is whether this is the beginning of a true supply disruption.

Amrita Sen is founder and director of Market Intelligence.