Iran Retaliation, Trade Gap Widens, Remembering Steinem, More
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Why is Iran retaliating against recent U.S. strikes and what does it mean for the region?
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News when you want it with Bloomberg News Now. I'm Karen Moscow. Iran continues to retaliate against US strikes earlier in the week as the fighting between the two sides picks up after a month of relative quiet.
um the US military o in Iran overnight.
How are soaring gasoline and diesel prices affecting U.S. consumers today?
What we did have, however, this morning was confirmed Iranian drone and missile attacks against Kuwait. Iran has also claimed to have attacked the UAE, but currently there's no confirmation of that. But I think it just goes to show you know Iran's initial response to the US attacks uh was described as a retaliation, but it It was described as an open ended one and that they would continue until uh they felt that the the aggressor had been sufficiently punished. So even if the US backs off, that doesn't mean uh that Iran will will necessarily follow suit.
And that's Bloomberg's Patrick Sykes. The US had Iranian rocket launchers on an island in the Strait of Hormuz on Sunday and about a hundred targets in Iran Tuesday night. Meanwhile, President Trump said renewed attacks on Iran would likely be short-lived. He reiterated his claim Washington controls the Strait of Hormuz. As the Iran conflict continues, Painted the Pump is on the rise. Unleaded gasoline now averages around four dollars fourteen cents a gallon, that according to Triple A, and that's the highest since mid June. And diesel, the fuel that drives much of global shipping, is past its peak from the start of the Iran war and near a record set in the early days of the Ukraine conflict.
What is Chinese President Xi Jinping’s agenda in Egypt and how could it reshape Middle‑East security?
Bloomberg Middle East Energy Reporter Anthony DePalo has more.
the US is is largely uh insulated from global markets because of its huge uh amount of crude oil production, uh because of the amount of exports. Uh however, it is a global market, so the prices are set globally and and that's where uh the price impact uh hits the US even despite uh the the relative independence in terms of of production.
And that's Bloomberg's Anthony DePaulo, who reports diesel in the US now averages five dollars seventy eight point three cents a gallon. Patrick Dehan at Gas Buddy says it could break the all time high of a five eighty one point six by Labor Day. Chinese President Xi Jinping is calling on Middle Eastern nations to consider a new security order free of external interference as he meets with Egypt's president in Cairo. Bloomersabir Abu Omar has more from Dubai.
The Xi Jinping visit to Egypt is the first in about a decade he of course met with his counterpart Abdelfata Hastisi. And this is a trip that takes place uh a couple of weeks or so ahead of his planned trip to Washington. He also mentioned some things about the Middle Eastern countries having to be or becoming masters of their own destiny when it comes to how things are done here in the region.
And Bloomberg's Abir Abu Omar reports President She's comment about helping the Middle East reshape its security architecture was seen as a veiled swipe at the US. Leon Black suing the House committee investigating Jeffrey Epstein, seeking to block subpoenas issued to the Apollo Global Management co founder after he voluntarily appeared for an interview.
Why is Leon Black suing the House Oversight Committee over the Epstein investigation?
The suit against the House Oversight Committee and James Comer, its Republican chairman, was filed in federal court in Washington. It was filed hours before he was scheduled to appear in front of the committee again today. A shooting at a downtown Minneapolis apartment building has left three people dead, including the suspect and five others wounded. Authorities say among the wounded. Two Minneapolis police officers both are said to be in stable condition.
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Chapters
7 chapters
1
Why is Iran retaliating against recent U.S. strikes and what does it mean for the region?
0:01–1:00
2
How are soaring gasoline and diesel prices affecting U.S. consumers today?
1:00–2:16
3
What is Chinese President Xi Jinping’s agenda in Egypt and how could it reshape Middle‑East security?
2:16–3:58
4
Why is Leon Black suing the House Oversight Committee over the Epstein investigation?
3:58–5:02
5
What happened in the Minneapolis downtown shooting and who were the victims?
5:02–5:50
6
How will NVIDIA’s $13 billion acquisition of Hugging Face impact the AI landscape?
5:50–6:50
7
Why did the U.S. trade deficit widen sharply in July and what does it signal for the economy?
6:50–7:55
Speakers
5 identifiedMore from Bloomberg News Now
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