Chapter 1: What is the main topic discussed in this episode?
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.
We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going.
From Brussels, I'm following the politics, policy and the people shaping the European Union right now.
And from London, I'm looking at what all that means for markets, money and the wider economy.
We've got reporters across Europe and around the globe feeding in as stories break.
So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens.
It's smart, calm and to the point.
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Chapter 2: What recent events have escalated tensions between the US and Iran?
Iranian authorities said yesterday that they had attacked three oil vessels, while President Trump said that U.S. forces sank nine Iranian naval ships. At their monthly meeting, OPEC Plus agreed to increase oil production by 206,000 barrels per day, only slightly higher than the pace that they had agreed at the previous meeting.
The Israeli military says it's starting an offensive campaign against Hezbollah in Lebanon that could last several days. The AFP news agency reports that strikes have so far killed more than 30 people. The escalation comes after Hezbollah fired into Israel, saying it was acting in retaliation for the killing of Iran's supreme leader.
Travel chaos has extended through the Middle East and beyond, causing major disruptions at some of the world's busiest airports. Carriers across the Persian Gulf are extending an unprecedented blanket flight suspension after Iran targeted airports in this weekend's offensive. Bloomberg's aviation and transport reporter Danny Lee says it's not clear when the disruption might end.
We're looking at around thousands of flights a day being cancelled in and out of some of these key transit hubs, particularly Dubai, the world's busiest international airport for transit travel. And that also extends to Abu Dhabi and Doha. So with the region's airspace also being closed, it really means that the airlines cannot operate in the Persian Gulf.
Danny Lee adds that the disruption also extends to flights which would normally pass through the airspace. Tens of thousands of people have been stranded in a region that functions as a global super connector. The crisis has also hit airline stocks which have plunged as investors digest the impact of axed flights, airspace closures and lengthy travel disruptions.
And those are your top stories. On the markets, Eurostox 50 futures down 2.3%. Cacaron futures 1.9% lower. FTSE 100 futures are down by 0.8% on Wall Street. S&P E-minis are down by 1.5% as well. Oil prices now 9.4% higher for Brent crude, climbing towards $80 a barrel. We've seen that jump in European natural gas prices as well. The Bloomberg Dollar Spot Index up by 0.6%.
The euro down 0.8% at 1.17%. 23 this morning.
That's news when you want it with Bloomberg News Now. I'm Caroline Hepke.
I'm Stephen Carroll and this is Bloomberg.
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