US-Iran Pause Strikes, Oil Falls as Tensions Ease, More
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What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Doug Krisner. Crude oil prices are plummeting after the U.S. and Iran extended a pause in their war. Axios is reporting the top U.S. military commander in the Middle East, Admiral Brad Cooper, recommended stopping the bombing campaign around the Strait of Hormuz because it's reached the limit of its effectiveness. At the same time today, The New York Times is reporting President Trump's advisers are concerned about shrinking inventory of U.S. military hardware. Now, today, in an interview with The Wall Street Journal, President Trump did push back on that notion. Here is the U.S. ambassador to the U.N., Mike Waltz, speaking on NBC's Meet the Press.
The president is keeping all options on the table. I've spoken with the negotiators. I've spoken with Secretary Hegseth. What the president is doing right now, as we've seen all along, is giving some talks some space. Talks are ongoing. They're happening at every level, from the more technical aspect of it all the way to the highest levels, of course.
That is UN Ambassador Mike Waltz speaking on NBC's Meet the Press. Over the weekend, the Islamic Republic signaled it was refraining from any retaliatory attacks, and Iranian leadership held talks with Oman regarding the Strait of Hormuz. Israeli Prime Minister Benjamin Netanyahu is set to meet with President Trump in Washington on Tuesday. Netanyahu says he plans to press Trump to keep watch on Iran's nuclear program.
I think when this regime is either toppled or it's sufficiently weakened that it knows it has to end its nuclear program and has to change its course. That's really what President Trump is trying to achieve, and I back his fully.
That is Israeli Prime Minister Benjamin Netanyahu speaking earlier to Fox News. Ukrainian President Volodymyr Zelensky will be meeting with President Trump at the White House on Tuesday. Zelensky will be in Washington to attend the funeral of South Carolina Senator Lindsey Graham. Now, Graham had visited Ukraine just days before his death, and he recently secured support from the Trump administration for expanded sanctions on Russian oil and gas. It will be a busy week of rate decisions from the world's key central banks. It will begin with the Fed's decision on Wednesday.
Why did crude oil prices fall after the U.S. and Iran extended a pause in strikes?
Here's Bloomberg's Andrew O'Day.
Even as financial markets increasingly predict that borrowing costs will be higher by the end of this year, economists are still expecting the Fed Reserve's next move on interest rates will be a cut. Forecasters in a Bloomberg survey see the U.S. central bank cutting its benchmark rate by a quarter percentage point in the third quarter of next year. While that's later than last month's survey, it contrasts with views from policymakers and investors who have suggested rate hikes may be on the horizon.
What did Axios report about U.S. military strategy around the Strait of Hormuz?
Andrew O'Day, Bloomberg Radio.
In Germany, police have shot and killed a suspect wanted for a car ramming attack on a pride march in Berlin. This suspect, Abdul B, a German citizen with Lebanese roots, was killed following a search that lasted nearly 24 hours. German officials said all indications point to an Islamic terror attack. The U.S. is pressing Mexico to mimic U.S. deal tariffs aimed at China. That story from Bloomberg's Monica Ricks.
The U.S. has asked Mexico to impose Section 232-style duties on steel and aluminum imports from outside North America. The goal is to preserve preferential treatment for steel produced in the U.S., Mexico and Canada while applying a common external barrier to China and cutting back on purchases there.
How are U.S. officials and President Trump responding to concerns over military hardware inventories?
Both countries are still discussing rates and products covered by the possible tariffs.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–2:45
2
Why did crude oil prices fall after the U.S. and Iran extended a pause in strikes?
2:45–3:14
3
What did Axios report about U.S. military strategy around the Strait of Hormuz?
3:14–4:02
4
How are U.S. officials and President Trump responding to concerns over military hardware inventories?
4:02–5:19
5
What did UN Ambassador Mike Waltz say about talks and keeping options on the table?
5:19–7:10
Speakers
10 identifiedMore from Bloomberg News Now
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