Bloomberg Daybreak: Europe Edition

Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) The US has issued its second authorization for buyers to take Russian oil cargoes already at sea, widening a temporary waiver given last week to India alone in an effort to ease pressure on prices as the war in the Middle East continues.

(2) Brent oil traded near $100 a barrel following one of the most volatile trading weeks ever, with investors bracing for more upheaval as Iran pledged to keep the Strait of Hormuz effectively shut.

(3) The number of Iranian missile launchers has held steady after a week of unrelenting airstrikes, according to Israeli and western estimates, indicating the difficulty of finding small, mobile targets without having complete control of the skies.

(4) A KC-135 refueling plane that was part of the American military campaign against Iran crashed over western Iraq after an incident involving another plane, US Central Command said Thursday night.

(5) The basic assumptions that have underpinned hedging strategies for decades are coming undone by the escalating war in Iran.

Podcast Conversation: America’s Decade-Long AI War Efforts Get a Trial by Fire in Iran
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Brent jumped back above $100 a barrel after the Iran war led to more shipping turmoil in the Middle East and China tightened fuel export curbs to cope with the impacts of the conflict.

(2) President Donald Trump said the massive release of emergency oil reserves approved by the International Energy Agency would ease energy price pressures while the US seeks to “finish the job” in its campaign against Iran.

(3) Goldman Sachs and Citigroup have told staffers in Dubai to stay away from their offices as Iran’s attacks on Gulf cities continue.

(4) The European Union warned that its inflation rate could surpass 3% this year if the war in the Middle East causes Brent oil prices to remain around $100 per barrel and gas prices stay elevated for an extended period.

(5) President Donald Trump’s administration started the first of several sweeping trade investigations that set the stage for new tariffs, the centerpiece of a push to replace levies struck down by the US Supreme Court.

(6) Prime Minister Keir Starmer appointed Peter Mandelson as US ambassador despite an official vetting process that warned his ties to disgraced financier Jeffrey Epstein entailed “reputational risks.”

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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) The International Energy Agency has proposed the largest ever release of oil reserves, according to the Wall Street Journal, as governments seek to contain a spike in energy prices driven by the Middle East war.

(2) President Donald Trump warned Iran against laying mines in the Strait of Hormuz and threatened to blow up any ship attempting to do so, underscoring his determination to get oil flowing through the vital waterway after almost two weeks of war.President Donald Trump warned Iran against laying mines in the Strait of Hormuz and threatened to blow up any ship attempting to do so, underscoring his determination to get oil flowing through the vital waterway after almost two weeks of war.

(3) Energy markets whipsawed for a second consecutive day as investors raced to interpret rapidly shifting comments from the Trump administration over the war in Iran.

(4) The European Central Bank will ensure the war in Iran doesn’t inflict the same inflation pain on the euro zone as Russia’s invasion of Ukraine did, according to President Christine Lagarde.

(5) The cost of meeting net zero is less than a single fossil fuel price shock, the UK’s official climate adviser said.

(6) According to a stinging barb from Donald Trump, Britons are being led by a Prime Minister who is no Winston Churchill. Soon they will have to cope without the popular wartime leader on their banknotes too.

(7) Some of the world’s biggest hedge funds known for their steady returns suffered hundreds of millions of dollars in losses last week after the war against Iran triggered wild market moves and hit portfolios across the industry.

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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) President Donald Trump said he would waive oil-related sanctions, have the US Navy escort tankers through the Strait of Hormuz and predicted on Monday that the war with Iran would resolve “very soon” as he confronted mounting economic and political pressure and days of dramatic fluctuations in oil markets.

(2) Oil tumbled after US President Donald Trump said the Iran war will end soon, as he faces mounting pressure over the conflict that’s upended global energy markets and sparked concerns about an inflation crisis.

(3) Russian President Vladimir Putin and his US counterpart Donald Trump discussed Iran in their first phone talk this year.

(4) Until last month, airlines couldn’t get new aircraft fast enough, with both Airbus and Boeing struggling to keep up with surging demand. The 11-day war in Iran has upended that outlook

(5) The Bank of England faces the prospect of UK inflation rebounding to as high as 5%, with traders ramping up bets on a reversal of recent cuts to interest rates.

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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Oil soared above $100 a barrel as more major Middle East producers curbed production, the Strait of Hormuz remained all but closed, and the US threatened to deepen a conflict that has upended energy markets.

(2) Equities tumbled and a global bond selloff deepened as crude oil surged above $100 a barrel for the first time since 2022, with the US-Israeli war against Iran showing no sign of easing and both sides appearing set to prolong the conflict. The dollar rose.

(3) Iran named the son of the late Ayatollah Ali Khamenei as its new supreme leader and President Donald Trump called $100 oil a “small price to pay,” with neither side showing any sign of deescalating a war now entering its 10th day.

(4) President Donald Trump is weighing the option of deploying special forces on the ground to seize Iran’s near-bomb-grade uranium, as officials grow increasingly concerned the stockpile may have been moved, according to three diplomatic officials briefed on the matter.

(5) UK Prime Minister Keir Starmer raised the prospect of intervening to help households with soaring energy bills as oil prices hit $100-a-barrel for the first time since 2022, with little sign that the war in Iran is nearing resolution.

(6) Chancellor Friedrich Merz suffered a setback when his conservatives lost a regional election to the Greens, a stinging blow for the unpopular German leader compounded by a jump in support for the far right.
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