May 31, 2026: US-Iran Seeking Changes to Draft Agreement, Oil Climbs, More
episodePreviously titled “US-Iran Seeking Changes to Draft Agreement, Oil Climbs, More” — renamed by the publisher on Aug 2, 2026
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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 Charlie Pellett. Crude oil is moving higher with Brent crude back over $93 a barrel as the U.S. and Iran traded messages over the weekend seeking changes to a draft agreement that would extend a ceasefire and open the Strait of Hormuz. Bloomberg's Wendy Benjaminson calls it a stalemate.
Both sides, either U.S. officials we've spoken to or Foreign Minister We're exchanging these messages, but this deal could fall apart at any moment because, you know, the President Trump has his red lines, which are Iran must agree to never develop a nuclear weapon. They must open the Strait of Hormuz and traffic must be free-flowing through that Strait. And, you know, there are a few other smaller things. But, you know, and the Iranians want to set up a toll system for the Strait of Hormuz. They want reparations. There's a lot of things that are yet to be agreed to.
Bloomberg's Wendy Benjaminson. In the meantime, Treasury Secretary Scott Besant interviewed on Fox News' Sunday Morning Futures, says the president wants to make sure that if an Iran deal is reached, it will be enforced.
We didn't Have regime change, but we changed the regime. The first layer, it was decapitated. Second layer decapitated. We're on the third group. So maybe they've seen what happened to the others. And they see what President Trump is willing to do. So if President Trump agrees to this deal, I would tell the Iranian leaders right now, he will enforce it.
Treasury Secretary Scott Besant on Fox News' Sunday Morning Futures. Meanwhile, Israel has expanded its ground assault in Lebanon, shattering a brittle truce with its northern neighbor as Hezbollah steps up attacks on Israel's north. All of this as oil climbs from a six-week low. National Economic Council Director Kevin Hassett told ABC's This Week he is expecting oil prices to pull back.
We track inventories every day. We started out with billions, billions of barrels of private and government inventories, and we still are in the billions. And so there's plenty of runway, but also, you know, there's a lot of pressure on Iran to finally agree to the president's terms.
were accrued back around $93 a barrel. There were violent protests over the weekend at Delaney Hall, an immigration detention center in Newark, New Jersey. That led officials to impose an overnight curfew. At a news conference, New Jersey Governor Mikey Sherrill said visits for detainees at the immigration detention center will resume.
As some of the reporting got worse in Delaney Hall, You had more and more protesters. And then ICE started to come out. They used batons. They used rubber bullets and measures that we felt like were escalating in violence. We saw, I think, someone being beaten by an ICE agent. That is not how we conduct our policing.
New Jersey Governor Mikey Sherrill. Former Fed Chair Jay Powell says the U.S. Central Bank would lose credibility if any president were free to dismiss Fed officials over policy disagreements. He spoke at the JFK Presidential Library in Boston.
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