US Intercepts Fresh Iranian Attacks, OH Festival Shooting, 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 inflation due to the war in Iran. But Director General Willie Walsh tells us demand remains strong.
Demand for flying continues to be pretty robust, to be honest with you, despite everything we've seen, and I would expect that to continue through the years. Personally, I see this as a challenging environment, but by no means is it a crisis for the industry.
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. The USDA is working quickly to contain a screwworm outbreak in Texas after two cases of a flesh-eating parasite were confirmed in cattle this week. But Texas Governor Greg Abbott is reassuring the public.
What we're dealing with is an infestation of animals.
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