Monica Ricks

And that's news when you want it with Bloomberg News Now.

I'm Monica Ricks.

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News when you want it with Bloomberg News Now.

I'm Monica Ricks.

The U.S.

and Iran appear to be making very little progress towards an interim deal to end the war in the Middle East as fresh attacks pile pressure on a fragile ceasefire in the region.

U.S.

Central Command said early this morning that it downed two more Iranian attack drones that threatened international maritime traffic in the Strait of Hormuz.

And this comes after intercepting drones and ballistic missiles aimed at Bahrain and Kuwait on Friday.

Meantime, one of the sticking points in negotiations has been the fate of billions of dollars of frozen Iranian assets.

The Trump administration is now seeking to steer them towards helping U.S.

allies in the Persian Gulf rebuild from damage inflicted by this conflict.

Bloomberg's Abir Abu Omar has more from Dubai.

To some varying degrees, the Gulf countries, there are six of them, they will respond differently, right?

And bear in mind that these are incredibly rich countries with so much buffers in their reserves.

And so there's a question of do they really need

That's Bloomberg's Abeer Abu Omar on Bloomberg this weekend.

She says the $24 billion in frozen assets has been a major concession for Iran in its peace talks with the U.S.

Major OPEC Plus members have agreed to another modest increase to their oil output quotas for July, but it's mostly symbolic today since exports have been largely blocked from getting through the Strait of Hormuz.