S Bombs Iran for Ninth Day, Spain Wins World Cup, More
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What is the main topic discussed in this episode?
Hi, I'm Barry Ritholtz inviting you to join me for the Masters in Business podcast. Every week we bring you conversations with the people who shape markets, investing and business. I speak with CEOs, Nobel laureates, market innovators and legendary investors. Whether you own stocks, bonds, real estate, commodities, even crypto, these are discussions you absolutely need to hear. Subscribe to the Masters in Business podcast on Apple, Spotify or anywhere you listen.
News when you want it.
With Bloomberg News Now, I'm Karen Moscow. And I'm Alexis Christophorus. Here are the stories we're following today.
All right, Alexis, and what we're seeing in oil comes as fighting escalates in the Middle East. U.S. Central Command says it had completed a ninth straight evening of attacks targeting Iranian command centers, maritime capabilities, missile and drone launch sites, and communications networks. President Trump spoke to reporters at Joint Base Andrews.
This is a far bigger job that we're doing. We were doing a little job of stopping them from having a certain capability. Now we're just ending it. So it's really not the same thing. What we're doing now is we're ending any chance where they can have a nuclear missile.
Iranian strikes have killed two more U.S. service members in Jordan, bringing the U.S. death toll to 17 since the war began. And Bloomberg's Stephen Stepchinski says there's fear that the conflict will escalate even more. So before it was really with the tit for tat attacks, you saw the U.S. and Iran targeting military assets. But now you're seeing them start to target energy assets. Quadia facilities have been targeted over the weekend. There's also more countries are having to intercept drones as well. And so there is this fear that this could spiral into a wider regional conflict like we saw in March where Iran was targeting Iran. and succeeding in attacking and damaging oil refineries, liquefied natural gas plants.
And if that happens, it's no longer a question as to how long it takes for HUMU's traffic to get back to normal. It is a question for how long does it take for some of these really important assets and production facilities to get repaired and to come back online because that could take more time. And Bloomberg's Stephen Tepchinski notes that the conflict is now in its 21st week.
And gas prices are once again over $4 a barrel. AAA says the average price is now $4.03. Energy Secretary Christopher Wright says the Trump administration is trying to bring down prices.
Gasoline prices today are more than a dollar a gallon cheaper than they were four years ago under the Biden administration. And we'll do everything we can to drive them further down in the weeks and months ahead.
Energy Secretary Christopher Wright made those comments on ABC's This Week. You can catch the program Sunday afternoons right here on Bloomberg Radio.
What is happening with U.S. strikes on Iran and why is it the ninth day of attacks?
In Europe, Alexis, it's yet another changing of the guard in the UK. Andy Burnham will take over as Britain's new prime minister today. And we go to London and get the very latest at Bloomberg's Ewan Potts. Ewan, good morning.
Karen and Alexis, a new Prime Minister for the United Kingdom. Andy Burnham will meet King Charles at Buckingham Palace later this morning to ask his permission to form a government. It's a ceremonial process that has become all too familiar to Brits in recent years, with the UK getting its seventh Prime Minister in just over a decade. The former Mayor of Manchester in the north of England has so far been tight-lipped about his Cabinet appointments. We'll start to get the first of those as the day goes on. Live in London, I'm Ewan Potts, Bloomberg Radio.
All right, thanks, Ewan. Secretary of State Marco Rubio says President Xi Jinping's trip to America remains on track for September. Rubio spoke to reporters yesterday before departing for a foreign ministers meeting in Manila.
We anticipate that the trip is happening in September. They've continued to send over their teams to prepare for it. I've heard nothing otherwise.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–2:50
2
What is happening with U.S. strikes on Iran and why is it the ninth day of attacks?
2:50–4:03
3
What did President Trump say about ending Iran's nuclear missile capability?
4:03–4:56
4
How have Iranian strikes affected U.S. service members and regional escalation fears?
4:56–6:15
5
How could attacks on energy infrastructure push up oil and gasoline prices?
6:15–7:03
Speakers
7 identifiedMore from Bloomberg News Now
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