Iran State TV: Khamenei is Dead, OPEC+ to Meet Sunday, More
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News when you want it with Bloomberg News Now, I'm Ed Kalegi. Iranian state TV is now also saying that Supreme Leader Ayatollah Ali Khamenei is dead. Earlier, President Trump posted on social media, on Truth Social, the death of Ali Khamenei, adding that the heavy and pinpoint bombing, however, will continue uninterrupted throughout the week or as long as necessary. Killing the ruler who dominated the Islamic Republic for more than three decades took the U.S.-Israeli campaign to quash Iran's regional power to a new level, even as Iran retaliated with strikes on U.S. allies in the oil-rich Middle East and threatened tanker traffic through the Hormuz shipping strait. Iran's semi-official Fars news agency said Trump's claim was denied by sources close to the Supreme Leader's office.
OPEC will consider a larger supply increase when key members meet Sunday following U.S. and Israeli airstrikes on targets in Iran. We get more from Bloomberg's Monica Ricks.
The group led by Saudi Arabia and Russia was expected to resume modest production increases from April after a three-month supply freeze. They'd added monthly increments of 137,000 barrels a day in the fourth quarter, but these attacks could now escalate production increases. Physical disruptions are also a big concern, but for now, the Strait of Hormuz remains open. That's a critical shipping lane for much of the world's crude supply. Oil prices climbed with Brent crude as high as $73 a barrel Friday, but oil markets could be shaken up a bit come Monday. Monica Ricks, Bloomberg Radio.
Adding to Monica's report, oil shipping has largely paused in the Strait of Hormuz that links the oil-rich Persian Gulf to the open seas after the U.S. and Israel bombed Iran, with Iranian media saying the waterway is practically closed. Ships reported hearing a radio broadcast reporting to come from the Iranian Navy announcing that transit through the waterway was banned. There's been no formal announcement from Tehran about the status of the strait, which is crucial for the flow of oil and gas. But several tankers that had been heading toward Hormuz turned around in recent hours. A large number had already paused to wait near the entrance to the waterway after the bombing started. The disruption is impacting everything from crude oil tankers to container ships that carry furniture.
There have been some questions about the president's authority to attack Iran without congressional approval. Former National Security Advisor and Ambassador to the United Nations John Bolton talked about it on Bloomberg this weekend.
This is manifestly within the president's constitutional commander-in-chief authority. The Gang of Eight were briefed on this on Tuesday. And if Congress doesn't like it, Congress can cut off appropriation. That's where congressional power comes in.
What recent news has emerged about Iran's Supreme Leader?
John Bolton on Bloomberg this weekend. You can hear more of the show tomorrow at 7 a.m. Eastern. continued to pour in all day from all over the world. Russia called the strikes and provoked aggression. China said it's highly concerned and called for a stop to the assault. Australia and Canada expressed support for the U.S.
How did President Trump's claims about Khamenei's death impact U.S.-Iran relations?
France, Germany and Britain have also called for negotiations to resume between the U.S. and Iran following Iran's attacks on other countries. This is U.K. Prime Minister Keir Starmer.
It is vital that we prevent further escalation and return to a diplomatic process. We want to see peace and security, and the protection of civilian life. Iran can end this now. They should refrain from further strikes, give up their weapons programmes, and cease the appalling violence and repression against the Iranian people.
UK Prime Minister Keir Starmer.
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