US, Iran Begin Ceasefire Talks in Pakistan, Artemis Return, More
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Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
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News when you want it with Bloomberg News Now. I'm Monica Ricks. A U.S. delegation led by Vice President J.D. Vance is now in Pakistan for talks with Iranian officials aimed at bolstering a shaky ceasefire and paving the way for a permanent end to the fighting. Bloomberg's Israel Bureau Chief Ethan Bronner.
The biggest problem, of course, is that the United States and Israel launched this war six weeks ago and thought they could effectively take apart that regime and force change and found that the regime was far more resistant than they expected and the regime's survival and even Friday on some level in Iran has allowed it to take control of the Strait of Hormuz, to sort of have a stranglehold over a large part of the world economy through that, and has, you know, caused enormous political problems for President Trump.
Bloomberg's Ethan Bronner on Bloomberg this weekend. Lebanese and Israeli diplomats plan to meet in Washington next week to discuss their own ceasefire, but that faces hurdles, too, as both sides continue trading fire along Lebanon's southern border. Meantime, the U.S. is waiting for word on how negotiations play out with Vance at the helm. Catherine Lucey covers the White House for Bloomberg.
I mean, the thing is that sending him over there really, you know, sort of saddles him with it, right? It puts it around his neck as well. And there's no way for him to distance himself from this war now, given that he is now really sort of taking a leading role in the diplomacy here.
Bloomberg's Catherine Lucey reporting, the outcome of these talks could determine whether that shaky ceasefire turns into a lasting peace agreement or plunges the region into further conflict. In the span of a week, oil prices have rebounded a bit, falling from about $112 a barrel down to $95 a barrel at Friday's close. But Stephen Shork with the Shork Report tells Bloomberg the war in Iran will have residual impacts on the oil market for years.
What we're looking at here is a market that has, let's borrow the term, irrational exuberance. They want to believe this war is going to be over. And perhaps it is. And I hope it is. And I hope that there's a positive resolution. But what we don't have a resolution to is the amount of damage to infrastructure that's been inflicted upon the market.
Stephen Shork on Bloomberg this weekend. He says you can expect summer gas prices to spike even higher and the natural gas market, which includes helium and fertilizer, may never return to what it was like before this conflict. Wall Street banks are now starting to test Anthropic's latest AI model. Bloomberg's Dan Schwartzman has more.
Trump administration officials have encouraged the banks to use mythos internally to detect vulnerabilities. So far, JPMorgan Chase is the only bank named as part of an initiative to test the model, but other major financial institutions such as Goldman Sachs, Citigroup, Bank of America, and Morgan Stanley have also gained access or expect to in the coming days.
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