Trump Sees Iran War Ending in Weeks, Oil Falls, More
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Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
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News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Alexis Christophorus. Here are the stories we're following today.
Alexis, we are seeing a relief rally in markets on the prospect of the U.S. ending the war with Iran soon. President Trump says he could see the conflict ending in two to three weeks as it enters its second month.
I had one goal. They will have no nuclear weapon. And that goal has been attained. They will not have nuclear weapons. But we're finishing the job. And I think within maybe two weeks, maybe a couple of days longer to do the job.
In remarks from the Oval Office heard live on Bloomberg Radio, President Trump said it's still possible Iran reaches a deal in that time frame. Secretary of State Marco Rubio says the U.S. has had four objectives to destroy Iran's offensive missiles, destroy its missile production, destroy its Navy, and assure it never has a nuclear weapon.
We are on or ahead of schedule on each of those four objectives, and we can see the finish line. It's not today, it's not tomorrow, but it is coming. We are going to get to the point where our military will have achieved all of its objectives in this mission, and they're doing so with extraordinary efficiency.
Secretary of State Rubio made those comments on Fox News.
But there's one goal that the Trump administration is leaving unsaid, as we hear from Bloomberg Middle East correspondent Jumana Bersetchi in Dubai.
There was no real... objective linked to the reopening of the streets. And in fact, when he was asked about it, he said that they can leave it up to other people and pointed to other countries, such as the likes of China, who obviously benefit from the lion's share of the energy products that pass through the streets. And that it would sort of be something that can be dealt with at a later stage. So not an explicit objective per se anymore.
Bloomberg's Jumana Bersetchi reports President Trump has expressed frustration with U.S. allies for not helping reopen the strait. This morning, the president told the U.K. 's Telegraph newspaper he's strongly considering pulling the U.S. out of NATO after it failed to join the war, telling the paper it's, quote, beyond consideration. In the meantime, Iran continues to launch attacks, including at an oil tanker off Qatar and cruise missiles targeting the United Arab Emirates. And a third U.S. carrier group, the USS George W. Bush, is on its way to the Middle East. The White House says President Trump will deliver a primetime address on the war tonight that's set for 9 p.m. Wall Street time. You can hear it live here on Bloomberg Radio or watch on Bloomberg Television and the Bloomberg Business app.
Well, Alexis, oil is falling on the latest war developments, even as the straight of hormones remains largely closed. Right now, Brent is down 1.4 percent, trading at 102.49 a barrel. West Texas Intermediate's at 99.34. Stephen Stepchinski leads Bloomberg's team covering energy in Asia.
There is a new risk premium for oil going through the Middle East and gas going through the Middle East that is going to have to be sort of figured out going forward.
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