US-Iran Truce Collapses, ICE Fatally Shoots Man in Maine, More
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What is the main topic discussed in this episode?
This week on Leaders, with me, Francine Lacqua. I speak to tennis legend Rafa Nadal about how he stayed competitive despite injury.
I was able to enjoy the victories probably more than if I will not have this issue.
One iconic match.
In my mind was, I am almost dead.
And whether he misses playing.
I don't miss tennis because there was nothing else to offer.
Listen and watch Leaders with me, Francine Lacroix, on Bloomberg Television or wherever you get your podcasts.
News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Karen Moscow.
Karen, we begin with the latest developments from the Middle East. The U.S. Central Command says it's completed its latest wave of strikes on military targets across Iran in a five-hour mission. President Trump spoke to reporters at the White House yesterday.
Well, I think it's going very fast. We've demolished their military. We're hitting them very hard. We had a deal yesterday or the day before yesterday. It was all done. And then they broke up that deal immediately because they found out there was something in the deal they didn't like. And they're wired differently, and we're not going to put up with it.
That was President Trump at the White House. Iran's semi-official Tasnim News Agency reports that Islamic Revolutionary Guard Corps targeted U.S. Navy Fifth Fleet radar systems in Bahrain with missiles and drones.
Well, Nathan, President Trump is reinstating the U.S. blockade of Iranian ships transiting the Strait of Hormuz. He's also demanding a 20 percent reimbursement for all other cargo shipped through the waterway. We get more from Bloomberg News Director Will Kennedy.
It is an important turn of events. Clearly, a 20% levy on the cost of cargoes leaving the Strait of Hormuz would be a very serious change in the expense involved in shipping oil out of Hormuz. You're talking about $15 a barrel. It's a lot, and it's a lot more than Iran was proposing when it was saying that it wanted to charge people. So it really is a dramatic twist. And I think whether or not this ever comes to pass, we will see. But the important thing for global markets is we're in a very different situation with Hormuz than we were a few days ago, and not in a good way.
Bloomberg's Will Kennedy says U.S. military forces will resume blockading traffic to and from Iranian ports and coastal areas beginning today at 4 p.m.
How did the US-Iran truce collapse and what were the immediate military actions?
New York time. And this morning, the United Arab Emirates says two of its oil tankers were hit by Iran while crossing the Strait of Hormuz. It has oil on the rise once again. And checking crude right now, NYMEX crude oil, it's up more than 3% at $80.72 a barrel. Brent is up more than 4% at $86.90.
Now to domestic politics, Karen. South Carolina Governor Henry McMaster has made his choice to fill out the rest of the late Senator Lindsey Graham's term. It's Graham's sister, Darlene Graham Nordone.
I want to thank the governor for selecting me to serve the remainder of Lindsey's term. It is such an honor. Lindsey has always been there for me, and now I will be there for him.
Darlene Graham Nordone spoke at a brief event in Columbia, South Carolina. Senate Majority Leader John Thune says she will be sworn in this afternoon in Washington.
What did President Trump say about US strikes on Iran and the broken deal?
Governor McMaster says the special election to replace Graham on the November ballot will be held in four weeks on August 11th.
And Nathan, the White House says President Trump will support one of Senator Graham's last major legislative efforts before he died, a new sanctions bill on Russia. Graham first proposed what he called bone-crushing sanctions in April of last year. That bill would have imposed so-called secondary tariffs as high as 500 percent on countries that bought Russian oil or natural gas. It's unclear whether this bill would go that far, but Senate Leader Thune says passing it would be a great tribute and legacy for Lindsey Graham.
Well, now, Karen, we wanted to update you on a developing story in Maine where a U.S. immigration officer shot and killed a person yesterday morning in Biddeford.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–2:19
2
How did the US-Iran truce collapse and what were the immediate military actions?
2:19–3:12
3
What did President Trump say about US strikes on Iran and the broken deal?
3:12–6:55
4
How might a 20% levy on cargo through the Strait of Hormuz affect global oil prices?
6:55–8:47
Speakers
10 identifiedMore from Bloomberg News Now
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