Nathan Hager

I'm Nathan Hager.

Wall Street's hopes for a quick end to the U.S.

war with Iran may have been dashed by President Donald Trump's address to the nation last night.

In the White House speech heard live on Bloomberg Radio, the U.S.

is close to achieving its military objectives, even as he says talks with Tehran's leaders are ongoing.

We get more from Bloomberg Deputy Washington Bureau Chief Laura Davison.

Bloomberg's Laura Davison reports the U.K.

is convening a meeting with 35 countries today to discuss ways to reopen the strait.

French President Emmanuel Macron says he does not see it happening militarily.

This has never been an option that we've chosen, and we think it's unrealistic.

unrealistic because it would take an infinite amount of time and would expose everyone going through the strait.

French President Emmanuel Macron spoke through an interpreter from Seoul, South Korea.

British Foreign Secretary Yvette Cooper says just five ships have made it through the strait in the last 24 hours.

The jitters are showing up in the oil market.

Right now, West Texas Intermediate is trading above $111 a barrel on May contracts.

That's above the contracts for Brent in June.

They're at $109.

Bloomberg Intelligence Senior Commodity Strategist Mike McGlone says he thinks oil's already seen its wartime peak at $120.

Mike McGlone with Bloomberg Intelligence.

And this morning, it is stocks that are going down, led by Nasdaq futures.