Doug Krisner

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 on Monday.

Trump also threatened to retaliate in the event of Iranian resistance.

Here is Trump speaking earlier to Fox Sunday Morning Futures.

That is President Trump speaking on Fox News.

Now, Trump also said negotiations collapsed because of differences over the nuclear issue.

Here is former CENTCOM commander General Joseph Votel on what he expects next.

Former CENTCOM Commander General Joseph O'Tell speaking on ABC's This Week.

And as the conflict with Iran continues, there is growing concern about volatility in oil markets and whether this is the beginning of a true supply disruption.

Amrita Sen is founder and director of Market Intelligence.

That is Amrita Sen, founder and director of Market Intelligence, speaking earlier to Bloomberg this weekend.

Viktor Orban has conceded defeat in Hungary's general election.

Orban has governed the country for 16 years as prime minister.

He has lost to Peter Magyar, the leader of the opposition party TISA.

Officials say Sunday's parliamentary election had the highest turnout in Hungary's post-communist history.

The International Monetary Fund says global prices will take time to come down even after the war ends.