US Moves to Block Hormuz, McIlroy Wins Masters, More
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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.
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And from London, I'm looking at what all that means for markets, money and the wider economy.
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News when you want it. With Bloomberg News Now, I'm Doug Krisner. The U.S. and Iran failed to strike a peace deal over the weekend, and in response, President Trump said the U.S. will begin a full naval blockade of the Strait of Hormuz beginning on Monday. Trump also threatened to retaliate in the event of Iranian resistance. Here is Trump speaking earlier to Fox Sunday Morning Futures.
We're putting on a complete blockade. We're not going to let Iran make money on selling oil to people that they like and not people that they don't like or whatever it is. It's going to be all or none. And that's the way it is. And it'll be you. So you saw what we did with Venezuela It'll be something very similar to that, but at a higher level.
That was President Trump speaking to Fox News. Trump also said negotiations collapsed because of differences over the nuclear issue. Meantime, the president and his advisers are reportedly considering a resumption of limited strikes on Iran as a way of breaking the stalemate in these peace talks. The Wall Street Journal reports Trump could also resume a full-fledged bombing campaign, although that is far less likely. And Trump could seek a more temporary blockade while, at the same time, pressuring allies to take responsibility for a military escort mission through the Strait in the future. Now, a full naval blockade of the Strait of Hormuz is being viewed by markets as a re-escalation. At the end of last week, markets began to price in a peace dividend.
But now, in Asian trading, oil prices are rallying. And a key question is whether this is the beginning of a true supply disruption. Amrita Sen is founder and director of Market Intelligence.
This is fundamentally the issue, right? Yes, the U.S. is the biggest producer in the world, and we are not expecting shortages outside of maybe the West Coast. But U.S. policymakers have to appreciate this is a global market, and this kind of a blockade does mean high domestic prices.
That is Amrita Sen, founder and director of Market Intelligence, speaking earlier to Bloomberg this weekend. at augusta national the 90th masters is now history and defending champion rory mcelroy has another green jacket he won the 2026 masters at 12 under par rory is a rare repeat winner at augusta That's the call from CBS Sports. This is McElroy's second straight win, making him the fourth man to go back-to-back at Augusta National. He joins Jack Nicklaus, Nick Faldo, and Tiger Woods. Incidentally, McElroy will receive $4.5 million in prize money. Scotty Scheffler was runner-up. Viktor Orban has conceded defeat in Hungary's general election. Orban has governed the country for 16 years as prime minister.
He has lost to Peter Magyar, the leader of the opposition party TISA. Officials say Sunday's parliamentary election had the highest turnout in Hungary's post-communist history. The International Monetary Fund says global prices will take time to come down even after the war ends. More from Bloomberg's Monica Ricks.
Managing Director Kristalina Georgieva says the IMF plans to lower its global growth forecast as a result of this war.
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