Bahrain Targeted, Ship Struck as Iran Ceasefire is Tested, More
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What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Monica Ricks. UK Maritime Trade Operations reports a tanker has been hit by an unidentified projectile, making it the second vessel now to be hit since Thursday in the Strait of Hormuz. But today's attack follows U.S. retaliation against Iran, which now threatens a fragile ceasefire between both countries. Bloomberg's Jeff Mason reports from Washington.
Certainly the U.S. wants to show Iran that it's still going to play if there are attacks or if there are violations of the ceasefire that they find unacceptable. And the president was sort of hinting about that earlier when he was chatting with reporters yesterday.
That's Bloomberg's Jeff Mason on Bloomberg This Weekend. Vice President J.D. Vance also responded on X, referencing its memo of understanding with Iran, saying violence will be met with violence. This morning, Bahrain reported it had been targeted by Iranian drones. It's home to the U.S. Navy's Fifth Fleet. Oil prices plunged 4% yesterday with Brent crude trading at about $72 a barrel, despite more uncertainty in the Middle East. Now, President Trump predicts gas prices will fall considerably.
Over the past few weeks, the stock market and your 401k skyrocketed upward, like pretty much. Nobody's seen before. Oil prices are plummeting downward.
We're going to be at $2.50 gasoline. AAA's got the national average this morning at $3.87 a gallon, down 8 cents from last week. The Panama Canal's now seeing better-than-expected revenue thanks to the closure of the Strait of Hormuz.
What happened after a tanker was hit in the Strait of Hormuz and who reported it?
Bloomberg's Karen Moscow has more.
Panama Canal Authority incoming chief Ilya Espino de Marota tells us revenue for the fiscal year ending September 30th will exceed its $5.2 billion forecast. This is due to rising traffic and auction payments from vessels willing to skip the line. Liquefied natural gas tankers flocked to the canal as buyers in Japan, China and Korea turned to U.S. suppliers to replace Middle East producers such as Qatar, which were affected by the war in Iran. Oil tankers carrying U.S. crew to Asia through the canal also increased. Karen Moscow, Bloomberg Radio.
Rescue teams from around the world have arrived in Venezuela now to help search for survivors after two powerful earthquakes that have now killed more than 900 people and injured more than 3,000. Katie Sussmans with the International Rescue Committee.
The whole infrastructure of Venezuela, including social services, public services, energy, medical supplies, etc., was already quite debilitated.
How did U.S. retaliation against Iran threaten the ceasefire and what did officials say?
The United Nations estimates the quakes have caused more than $6 million worth of damage. People are being urged to evacuate parts of Japan this morning where a tropical storm and a possible typhoon could make landfall. The country's meteorological agency warns those storms are also causing a high risk of landslides. Stateside Utah's now banning fireworks on the 4th as dangerous wildfires continue spreading through the state in extreme heat. Trent Owens home burned to the ground near Beaver.
Hard to stomach that one second we're living our dream up there on the mountain. And the next second, we're living out of the back of our truck with everything we own.
The Cottonwood Fire has become one of the most destructive wildfires in Utah's history. It's burned more than 71,000 acres so far. And another close runway call, this time at Miami International Airport.
All right, who do you want to talk to about that?
ATC.com captured sound of an American Airlines flight aborting takeoff after a business jet entered the same runway last night.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:01–2:02
2
What happened after a tanker was hit in the Strait of Hormuz and who reported it?
2:02–2:59
3
How did U.S. retaliation against Iran threaten the ceasefire and what did officials say?
2:59–6:23
4
Which countries and assets were targeted as tensions rose (Bahrain, Fifth Fleet, oil prices)?
6:23–6:50
5
Why did oil prices plunge and what are experts predicting for gas prices?
6:50–7:11
Speakers
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