Matt Piper

We're up early every weekday, keeping an eye on what's happening across Europe and around the world.

From Brussels, I'm following the politics, policy and the people shaping the European Union right now.

We've got reporters across Europe and around the globe feeding in as stories break.

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I'm Matt Piper.

A ceiling of the straight.

President Trump says the U.S.

will blockade the Strait of Hormuz following the failure of peace talks with Iran in Islamabad.

The blockade will effectively block Iran's means of exporting oil and will likely exacerbate oil and fuel shortages globally.

It's expected a royal global oil markets.

Trump spoke to Fox about the 20 hour talks between his vice president and Middle East officials, which led to no deal due to one big sticking point.

President Trump on Fox.

On Bloomberg, his former national security advisor, John Bolton, says he supports the bloc.

Former National Security Advisor John Bolton on Bloomberg this weekend.

Two empty supertankers had to make U-turns earlier after attempting to make their way through the Strait of Hormuz.

The tankers turned back near Iran's Larik Island.

The specific reasons behind the about-turns are not clear.

The dollar is expected to rise on Monday after falling 1.4 percent last week along with oil prices.