US and Iran Exchange Attacks, Nepal Races to Find Missing, More
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News when you want it. With Bloomberg News Now, I'm John Tucker.
And I'm Karen Moscow. Well, John, we begin with new developments in the Middle East. The US and Iran have exchanged strikes for the first time in about a month. American forces hit Iranian rocket launchers and the Islamic Republic responded by firing missiles toward Jordan. We get the latest at Bloomberg's Abir Abu Omar in Dubai.
The situation is still very fragile. You're talking about a ceasefire deal that is no longer in place. You're talking about wider negotiations that are no longer happening. And you're really talking about movement in the Strait of Remuse that has picked up but is nowhere near where it was pre-war levels. And so the situation is, to use the same word twice, still very fragile and could pick up anytime soon. And the frictions that you saw in the early hours of this morning certainly do. provide the case uh for how things could get appended at any moment. But for the time being, these are not skirmishes that we hadn't seen over the past couple of months or so. We'd seen Iran retaliating by striking countries in the region like Jordan, like Kuwait, like Bahrain.
That risk has never really left uh the room. That risk had always been present and now we're seeing it ticking up again.
And that's Bumber Sabir Abu Omar, who says the US attack was the first military action against Iran since late July.
And Karen, the flare up in fighting boosting oil prices this morning. Right now, Brandt, the international benchmark of three dollars eight cents, ninety one eighteen a barrel, WTI of two eighty nine at eighty six twenty nine a barrel. And oil analyst Carly Garner of DeCarley says the impact of prices does seem limited.
The same headlines earlier in the war would have probably been good for ten, fifteen dollars, not two dollars. So you can see that the the markets being fatigued, we're we're kind of um Being dis desensitized to the headlines, and I think that's really what's going on. I I'll also say I think this knee jerk reaction higher will probably trigger some buyers' remorse.
What triggered the latest US‑Iran exchange of strikes and why is the region fragile?
To Carly oil analyst Carly uh Garner away from the Middle East, Washington moving to take direct control of the more than sixty five million barrels of Venezuela's oil reserves. President Trump says the crude would be used to refill America's depleted emergency reserve.
Now, John, let's get to the latest on the trade dispute between the US and Canada. Ontario Premier Doug Ford is ridiculing President Trump's order changing the name of Lake Ontario to Lake America. Ford spoke on ABC's This Week, which can be heard Sundays on Bloomberg Radio.
It was like something out of uh Saturday Night Live when he signed uh a document saying change to Lake America. It's n no one's gonna call it Lake of America. It's been Lake Ontario for hundreds of years, it's gonna continue being Lake Ontario and uh it's just uh so so disappointing.
Ontario Premier Doug Ford expressed optimism that Canada and the US would eventually overcome their differences on trade and tariffs.
Well Google Maps is following President Trump's lead and did make a change to Lake Ontario. Bloomberg's Monica Ricks with that story.
Google Maps relabeled Lake Ontario as Lake America for users in the U.S. after President Trump said he'd renamed the lake amid a trade spat with Canada. But Alphabet says users in Canada will still see Lake Ontario, and the rest of the world will see both. The company said in a statement the updates follow its long-standing policy for bodies of water, which it says vary from country to country.
All right, Monica, thank you. Now to the latest on a tragic story overseas, with rescue workers still searching for the roughly forty eight hundred people missing in Nepal and China.
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