US-Iran Ceasefire Talks, 2 Chinese Tankers Sail Hormuz, More
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News when you want it with Bloomberg News Now. I'm Ed Kalengi. A U.S. delegation led by Vice President Vance is 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.
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.
This is a very high stakes moment for the vice president. We've never really seen him play this kind of role on the world stage before. It's kind of a classic vice president assignment, which is high risk, but potentially some reward. It would help him, obviously, if he can help broker some kind of deal here as he looks ahead potentially to 2028. But he could get saddled with a lot of blame if there are no wins out of these talks today.
Bloomberg's Catherine Lucey on Bloomberg this weekend. Two Chinese supertankers loaded with crude sailed through the Strait of Hormuz hours after a Greek vessel moved through the waterway, marking a significant uptick in oil shipping traffic days after a fragile ceasefire between the U.S. and Iran was announced. It represents the biggest day of oil exits through Hormuz since the war caused traffic through the waterway to all but halt six weeks ago. None are carrying oil from the Islamic Republic or have obvious direct links to the country. More airlines are raising surcharges and baggage fees to offset rising energy prices as the war in Iran continues. Katie Nastro is a travel expert for Going.com.
It's really a win-win for the airlines and a lose-lose for travelers, especially when, yes, base fares have increased. Domestic prices for summer, just for example, according to our Going.com data, up 18 percent. International fares up seven and a half percent. So unfortunately, this summer specifically is really going to be challenging for that cost-conscious traveler.
Going.com's Katie Nastro on Bloomberg this weekend. NASA and Boeing are still celebrating sending astronauts around the moon, but the Trump administration is already looking to competitors for a rocket replacement. Bloomberg's Monica Ricks reports.
The administration's seeking commercial alternatives to Boeing's pricey Space Launch System, or SLS, which helped NASA push the crew of Artemis II around the moon. The mission cost the agency billions of dollars, but in an effort to make budget cuts, it's now asking rivals what cheaper options they could offer for future lunar trips. Bloomberg reports SpaceX and Blue Origin have bids lined up, but they don't have rockets on the market like SLS to do what NASA needs, and that includes a lunar landing by the end of the decade.
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