Diplomacy in Focus in Iran Conflict, Netanyahu in Washington, Chip Rout, 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 Karen Moscow. The U.S. and Iran extending their pause in hostility. So the focus turning to talks between Tehran and Oman over restarting traffic in the Strait of Hormuz. The president told Axios the U.S. and Iran are engaged in, quote, deep talk. We get more with Stuart Livingston Wallace, who's head of Bloomberg's Middle East coverage.
We know that there are some sort of established mediators that have been going back and forth, so specifically Pakistan and Qatar, and of course there are others as well, because so many countries have been involved in this conflict. Or alternatively, he may be referring to at least one leg of these negotiations, which is over the control over Hormuz. So that is a series of talks that we know is going on between Iran and Oman, the two countries on either side of the strait.
And that's Bloomberg's Stuart Livingston Wallace. Sources tell Bloomberg Amani officials hope to make an announcement signaling progress in their talks in the next few days. However, there is no guarantee that will happen. All this comes as Israeli Prime Minister Benjamin Netanyahu plans to meet with the president today for the first time since the two leaders launched the joint war against Iran. We get more with Bloomberg Government Senior Congressional Reporter Zach Cohen.
Netanyahu over the weekend was saying that Trump and Israel need to keep a, quote, constant, constant watch on Iran. And while Trump's main priority is Hormuz, Israel has long been concerned about nuclear development by Iran. And it seems that there's been some degrading of Iran's capability to develop nuclear weapons over the course of the conflict, but no evidence that it's been entirely dismantled. And that's Israel's primary concern.
And that's Bloomberg's Zach Cohen. Ukrainian President Volodymyr Zelensky is meeting with President Trump this morning as well. And Zelensky is looking to reinforce a warming in relations and gain additional help to strengthen air defenses against Russian attacks. Zelensky said he also planned to pay his respects at the funeral service for the late Republican Senator Lindsey Graham, a staunch backer of Ukraine. OPEC Plus expects to pause oil production quota hikes after a final increase in September as the group continues to evaluate the fast-changing supply impact of the Iran war. Sources tell Bloomberg the producer group is currently planning to ratify an agreement to hike its September quota by 188,000 barrels a day when it meets virtually on August 2nd.
How are U.S. and Iran talks affecting the pause in hostilities and Strait of Hormuz security?
That will complete a current tier of increases and there are no plans for further hikes this year. Taking a look at crude this morning, NYMEX crude oil is down 1.7% at $81.23 a barrel. Brent is at $86.54. In Europe, French authorities have ordered nearly 4,000 people evacuated from tourist sites on France's Atlantic coast as returning heat threatens firefighters' fragile hold on a vast wildfire west of Bordeaux. The order underscores a wildfire emergency of exceptional scale across southwestern Europe. Fires in France and Spain have forced roughly 330,000 people to evacuate. Spain braced for its fourth heat wave of the summer, with several blazes still out of control, including its largest on record.
New Yorkers face a soggy afternoon commute as thunderstorms lumber into the region bringing the threat of torrential rains, flooding and flight disruptions. A flood watch has been posted from western Massachusetts to northeast Maryland that includes New York City. It's right through Wednesday. This is after storms in the Midwest with a tornado touching down near Appleton, Wisconsin yesterday.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:01–2:51
2
How are U.S. and Iran talks affecting the pause in hostilities and Strait of Hormuz security?
2:51–4:42
3
Which mediators are involved in negotiations between Tehran and regional partners?
4:42–6:36
4
What progress is expected from Oman-led talks about restarting traffic through the Strait of Hormuz?
6:36–7:18
5
Why is Benjamin Netanyahu meeting President Trump and what are Israel’s core concerns about Iran?
7:18–7:54
Speakers
7 identifiedMore from Bloomberg News Now
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