US Intercepts Fresh Iranian Attacks, Air Travel Demand Surges, 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 Monica Ricks. U.S. and Iranian forces continue to trade fresh attacks as negotiations continue on a potential peace deal. Central Command posted on social media this morning saying it shot down two Iranian drones that threatened international maritime traffic in the Strait of Hormuz. There were no reports of damage, but this follows drone and missile attacks on Bahrain and Kuwait on Friday. CENTCOM confirms those were intercepted too. Meantime, the Trump administration plans to use Iranian assets to help rebuild and repair any future damage caused by Iran in the Gulf. And that could include frozen Iranian assets as well as ships the U.S. has seized.
Treasury Secretary Scott Besson has directed his team to assess conditions and wants comprehensive estimates of damage costs since the start of the conflict. OPEC Plus is meeting today for their monthly virtual meeting and is expected to agree to a fourth oil output target, even though production is at a relative standstill with the closure of the Strait of Hormuz in the Middle East. Its previous agreement raised quotas by 188,000 barrels a day. The International Air Transport Association's meeting right now in Rio de Janeiro where aviation leaders are discussing concerns about air travel demand thanks to higher jet fuel prices and a supply crunch. Bloomberg Surveillance co-host Lisa Abranovich is there.
A lot of the supply coming from the U.S. has just really plugged the gap and you've also seen a real pullback in demand or at least in usage when it comes to certain Asian economies and that has offset some of the depletion that we've seen in terms of the total supplies. Either way, it doesn't seem to be that kind of top of mind moment. When I ask different executives here, are we close to that moment? Do you just have to wait a couple of months? They kind of shoo me off. It is just really an issue of financial management at this point.
Bloomberg's Lisa Abramovich on Bloomberg this weekend. Meantime, Delta and JetBlue say their customers are eager to splurge on premium travel. Here's Bloomberg's Ed Kalecki.
Both airlines say travelers continue to pay up for premium products, underscoring the industry's belief that demand for a higher-end experience remains resilient in the face of mounting economic pressures. Delta President Peter Carter.
We are finding that our consumer has an insatiable appetite for premium experiences. And everything we have introduced seems to just be truly inhaled by the consumer.
The comments come as airlines grapple with a surge in jet fuel prices following the conflict in the Middle East. Ed Kalecki, Bloomberg Radio.
Day two of a festival in Toledo, Ohio has now been canceled after a mass shooting there injured at least a dozen people. Toledo Councilman John Hobbs.
There has to be a tone set early on with summer just starting that this type of behavior will not be tolerated.
Two of the 12 people shot are in critical condition. Police say they're also following up on leads, but no arrests have been made.
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