1
00:00:02,560 --> 00:00:07,040
Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

2
00:00:10,000 --> 00:00:13,160
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

3
00:00:13,200 --> 00:00:15,760
Speaker 2: are the stories we're following today and Karen.

4
00:00:15,800 --> 00:00:17,280
Speaker 3: Oil is on the rise this morning.

5
00:00:17,320 --> 00:00:20,760
Speaker 4: As the US ramps up its pressure campaign on Venezuelan

6
00:00:20,880 --> 00:00:24,440
Speaker 4: President Nicholas Maduro, the Coast Guard is pursuing a third

7
00:00:24,520 --> 00:00:28,440
Speaker 4: oil tanker off the Venezuelan coast, intensifying a blockade that

8
00:00:28,440 --> 00:00:31,680
Speaker 4: the Trump administration imposed earlier this month. We get more

9
00:00:31,680 --> 00:00:33,639
Speaker 4: from Bloomberg's Claria Fererra Marquez.

10
00:00:34,240 --> 00:00:37,479
Speaker 5: It's really a very significant ratcheting up of US efforts

11
00:00:37,479 --> 00:00:40,800
Speaker 5: to cut off what is a key financial lifeline for

12
00:00:40,840 --> 00:00:44,720
Speaker 5: the Venezuelan economy. Remember that the Venezuelan oil industry is

13
00:00:44,800 --> 00:00:48,280
Speaker 5: really decimated relative to what it was perhaps years or

14
00:00:48,320 --> 00:00:51,560
Speaker 5: decades ago, but it is still The political system has

15
00:00:51,640 --> 00:00:55,080
Speaker 5: withstood quite a lot of this pressure. The question now

16
00:00:55,160 --> 00:00:56,920
Speaker 5: is how much more of this can it take.

17
00:00:57,000 --> 00:01:00,480
Speaker 4: Bloomberg's Clara Ferra Marquez reports the pursuit of the latest vessel,

18
00:01:00,560 --> 00:01:04,000
Speaker 4: Bella I, comes after the Coastguard boarded a non sanctioned

19
00:01:04,040 --> 00:01:06,720
Speaker 4: ship for the first time earlier in the weekend. Another

20
00:01:06,920 --> 00:01:10,800
Speaker 4: very large crewed carrier. The Skipper was intercepted on December tenth.

21
00:01:11,160 --> 00:01:14,560
Speaker 4: China is accusing the US of violating international law through

22
00:01:14,600 --> 00:01:17,840
Speaker 4: these seizures. Venezuela ships most of its crewed to China

23
00:01:17,880 --> 00:01:21,320
Speaker 4: through intermediaries using so called darkfleet tankers.

24
00:01:21,480 --> 00:01:25,200
Speaker 2: Well Nathan, President Trump is nominating Louisiana Governor Jeff Landry

25
00:01:25,200 --> 00:01:29,160
Speaker 2: as US Special Envoy to Greenland to advance US interest.

26
00:01:29,319 --> 00:01:31,360
Speaker 2: The position would be a new one for the US,

27
00:01:31,440 --> 00:01:35,000
Speaker 2: which has an ambassador to Denmark. Greenland is an autonomous

28
00:01:35,080 --> 00:01:38,959
Speaker 2: Danish dependent territory with self government and is its own parliament.

29
00:01:39,480 --> 00:01:42,200
Speaker 2: It's the latest signal that the President is looking at

30
00:01:42,240 --> 00:01:45,679
Speaker 2: increasing US influence over the island. He suggested he wants

31
00:01:45,720 --> 00:01:46,399
Speaker 2: to purchase and.

32
00:01:46,440 --> 00:01:49,720
Speaker 4: Els are in Washington, Karen the Trump administration's defending and

33
00:01:49,880 --> 00:01:53,960
Speaker 4: handling of the Jeffrey Epstein files. That's after several images

34
00:01:54,000 --> 00:01:57,080
Speaker 4: from the Justice Departments hundreds of thousands of documents were

35
00:01:57,080 --> 00:02:00,320
Speaker 4: removed from the agency's website over the weekend. Of them

36
00:02:00,440 --> 00:02:02,480
Speaker 4: was a photo of the future President Trump and a

37
00:02:02,480 --> 00:02:05,960
Speaker 4: desk drawer full of photographs. Deputy Attorney General Todd Blanche

38
00:02:05,960 --> 00:02:07,880
Speaker 4: says this has nothing to do with the president.

39
00:02:08,240 --> 00:02:10,680
Speaker 6: You can see in that photo, there's photographs of women,

40
00:02:11,240 --> 00:02:13,680
Speaker 6: and so we learned after releasing that photograph that there

41
00:02:13,680 --> 00:02:17,600
Speaker 6: were concerns about those women and the fact that we

42
00:02:17,639 --> 00:02:20,280
Speaker 6: had put that photo up, So we pulled that photo down.

43
00:02:20,400 --> 00:02:22,480
Speaker 6: It has nothing to do with President Trump.

44
00:02:22,520 --> 00:02:25,680
Speaker 4: Deputy Attorney General Todd Blanche appeared on NBC's Beat the Press.

45
00:02:25,720 --> 00:02:28,600
Speaker 4: That photo was restored to the website last night. But

46
00:02:28,680 --> 00:02:33,320
Speaker 4: Democratic Congressman Rocanna still has questions about heavily redacted documents

47
00:02:33,320 --> 00:02:35,760
Speaker 4: that were included in the Justice Department's release.

48
00:02:36,200 --> 00:02:40,280
Speaker 7: The redactions were excessive, and even Harvard law professions who

49
00:02:40,320 --> 00:02:44,280
Speaker 7: have looked at that have said, you can't redact internal communications,

50
00:02:44,440 --> 00:02:47,680
Speaker 7: you can't redact workforce product, and the courts are going

51
00:02:47,760 --> 00:02:49,120
Speaker 7: to find that these were excessive.

52
00:02:49,240 --> 00:02:52,280
Speaker 4: Democrat Rocana was a guest on CBS's Face the Nation,

53
00:02:52,360 --> 00:02:54,120
Speaker 4: and you can hear Face the Nation and Meet the

54
00:02:54,160 --> 00:02:56,240
Speaker 4: Press every Sunday on Bloomberg Radio.

55
00:02:56,400 --> 00:03:00,200
Speaker 2: Well Nathan National Economic Council Director Kevin Hassett says a

56
00:03:00,240 --> 00:03:04,160
Speaker 2: Supreme Court ruling that scraps Donald Trump's tariffs and refunds

57
00:03:04,200 --> 00:03:08,760
Speaker 2: the import fees collected but create a major administrative problem.

58
00:03:09,160 --> 00:03:11,200
Speaker 8: We really expect the Supreme Court is going to find

59
00:03:11,240 --> 00:03:14,200
Speaker 8: with us, And I also think that if they didn't

60
00:03:14,200 --> 00:03:16,240
Speaker 8: find with us, that it's going to be pretty unlikely

61
00:03:16,280 --> 00:03:19,480
Speaker 8: that they're going to call for widespread refunds because it

62
00:03:19,840 --> 00:03:23,720
Speaker 8: would be an administrative problem to get those refunds out there.

63
00:03:23,919 --> 00:03:27,600
Speaker 8: But basically, whoever paid the tariff, like actually cut the

64
00:03:27,680 --> 00:03:30,880
Speaker 8: check to buy the thing, would be the person who

65
00:03:30,960 --> 00:03:32,240
Speaker 8: would be getting the refund if.

66
00:03:32,200 --> 00:03:34,960
Speaker 2: There were What has it on CBS's face the Nation?

67
00:03:35,080 --> 00:03:37,920
Speaker 2: You can catch the program Sunday afternoons on Bloomberg Radio.

68
00:03:38,000 --> 00:03:40,720
Speaker 2: The Supreme Court is weighing a legal challenge to tariff's

69
00:03:40,760 --> 00:03:43,800
Speaker 2: Trump imposed on dozens of nations under the nineteen seventy

70
00:03:43,840 --> 00:03:48,800
Speaker 2: seven International Emergency Economic Powers Act. Administration officials have drawn

71
00:03:48,880 --> 00:03:51,800
Speaker 2: up options for reimposing import taxes in case of an

72
00:03:51,880 --> 00:03:52,760
Speaker 2: adverse ruling.

73
00:03:53,040 --> 00:03:54,840
Speaker 3: Let's turn now Karen to the latest on the war

74
00:03:54,840 --> 00:03:55,360
Speaker 3: in Ukraine.

75
00:03:55,440 --> 00:03:58,839
Speaker 4: US Special ENVOYE Steve Whitcoff says Trump administration officials held

76
00:03:58,920 --> 00:04:02,480
Speaker 4: quote productive and can destructive meetings with Ukrainian and European

77
00:04:02,520 --> 00:04:06,080
Speaker 4: counterparts in Florida, Wait. Coop's comments followed last week's EU

78
00:04:06,240 --> 00:04:09,440
Speaker 4: financial commitment to Ukraine. We get more from Bloomberg Chief

79
00:04:09,440 --> 00:04:10,880
Speaker 4: europe correspondent.

80
00:04:10,320 --> 00:04:13,280
Speaker 9: Oliver Crook, Imagine that you and I are negotiating something.

81
00:04:13,280 --> 00:04:15,480
Speaker 9: I'm sitting across the table from you, and I have

82
00:04:15,560 --> 00:04:17,800
Speaker 9: no money in the bank account versus one hundred billion

83
00:04:17,839 --> 00:04:19,680
Speaker 9: dollars in the bank account. And that is the difference

84
00:04:19,680 --> 00:04:22,680
Speaker 9: between today and two weeks ago. For the Ukrainians. They

85
00:04:22,720 --> 00:04:24,560
Speaker 9: now have this lifeline that was put out by the

86
00:04:24,600 --> 00:04:28,200
Speaker 9: Europeans ninety billion euro alone in the form of debt

87
00:04:28,200 --> 00:04:31,240
Speaker 9: that is basically backed by the European Union, not necessarily

88
00:04:31,240 --> 00:04:33,359
Speaker 9: in the form of those Russian assets, but that is

89
00:04:33,400 --> 00:04:36,320
Speaker 9: absolutely consequential and a very monumental in terms of getting

90
00:04:36,360 --> 00:04:38,920
Speaker 9: the negotiating position. What it tells the Russians, and this

91
00:04:38,960 --> 00:04:41,280
Speaker 9: is what the Ukrainian and the European point has been

92
00:04:41,320 --> 00:04:43,839
Speaker 9: from the very beginning, is that this war will not

93
00:04:43,960 --> 00:04:45,479
Speaker 9: be ended very, very swiftly.

94
00:04:45,800 --> 00:04:49,080
Speaker 4: And Bloomberg's Oliver Crook says, Ukrainian President Vladimir Zelenski is

95
00:04:49,120 --> 00:04:51,720
Speaker 4: casting doubt on Russia's commitment to end the war.

96
00:04:52,400 --> 00:04:54,760
Speaker 2: We turned to the markets now, Nathan, where futures are

97
00:04:54,839 --> 00:04:57,240
Speaker 2: higher as who begin a holiday shortened trading week than

98
00:04:57,279 --> 00:05:00,000
Speaker 2: Nashdek one hundred is poised to wipe out December's loss

99
00:05:00,160 --> 00:05:03,440
Speaker 2: is has revived appetite for technology stocks is powering gains

100
00:05:03,440 --> 00:05:07,679
Speaker 2: across global equity markets. Rebecca Patterson, the former chief investment

101
00:05:07,680 --> 00:05:11,200
Speaker 2: strategist at Bridgewater associate It, says the market has momentum

102
00:05:11,240 --> 00:05:12,560
Speaker 2: going into twenty twenty six.

103
00:05:12,800 --> 00:05:16,960
Speaker 10: I'll call it cautious. Optimism is warranted and it's reasonable.

104
00:05:17,000 --> 00:05:21,080
Speaker 10: You've got monetary stimulus. We can question how much, but

105
00:05:21,160 --> 00:05:24,440
Speaker 10: it's going in that direction. Fiscal stimulus at the margin,

106
00:05:24,560 --> 00:05:26,560
Speaker 10: especially with the tax refunds we're going to get in

107
00:05:26,560 --> 00:05:32,120
Speaker 10: the spring, deregulation AI CAPEX, continuing big capital spending, and

108
00:05:33,400 --> 00:05:36,400
Speaker 10: maybe a little less volatility around trade.

109
00:05:36,560 --> 00:05:40,880
Speaker 2: And It's former Bridgewater Associates chief investment strategist Rebecca Patterson,

110
00:05:41,000 --> 00:05:43,400
Speaker 2: the nastac is that more than twenty percent so far

111
00:05:43,480 --> 00:05:44,120
Speaker 2: this year.

112
00:05:44,040 --> 00:05:46,960
Speaker 4: And this morning Karen Gold, silver and copper are all

113
00:05:47,000 --> 00:05:50,520
Speaker 4: trading at records. Escalating geopolitical tensions and bets on further

114
00:05:50,640 --> 00:05:53,560
Speaker 4: US rate cuts are adding momentum to Gold's best annual

115
00:05:53,600 --> 00:05:55,560
Speaker 4: performance in more than four decades.

116
00:05:55,600 --> 00:05:57,640
Speaker 3: Martin Ritchie covers commodities for Bloomberg.

117
00:05:57,920 --> 00:05:58,400
Speaker 11: We're in very.

118
00:05:58,440 --> 00:06:01,880
Speaker 12: Uncertain types geopolitics and in this kind of period it's

119
00:06:01,920 --> 00:06:05,520
Speaker 12: when gold does tend to does tend to shine, and

120
00:06:05,560 --> 00:06:08,880
Speaker 12: that's not going to change anytime soon. And as they said,

121
00:06:08,880 --> 00:06:12,880
Speaker 12: there's not a lot huge amount of money private investor

122
00:06:12,920 --> 00:06:16,240
Speaker 12: money in gold so far, and the more that does

123
00:06:16,320 --> 00:06:19,520
Speaker 12: go into that market given all those fears, the more

124
00:06:19,560 --> 00:06:21,279
Speaker 12: you can see gold rise.

125
00:06:21,360 --> 00:06:24,480
Speaker 4: Bloomberg's Martin Richie says gold's headed for its strongest annual

126
00:06:24,520 --> 00:06:27,719
Speaker 4: gain since nineteen seventy nine, and the gains continue this

127
00:06:27,839 --> 00:06:30,839
Speaker 4: morning with comes Gold up one point four percent, trading

128
00:06:30,880 --> 00:06:33,599
Speaker 4: at forty four hundred and forty eight dollars seventy cents

129
00:06:33,640 --> 00:06:34,159
Speaker 4: per ounce.

130
00:06:34,880 --> 00:06:37,680
Speaker 2: Well, Nathan, another win at the box office for Disney.

131
00:06:38,120 --> 00:06:40,440
Speaker 3: Your Goodness Has.

132
00:06:43,240 --> 00:06:45,880
Speaker 2: Fire and Ash was the highest grossing film of the

133
00:06:45,880 --> 00:06:49,080
Speaker 2: box office this weekend, with an eighty eight million dollars

134
00:06:49,160 --> 00:06:53,040
Speaker 2: domestic debut. It also opened number one in Shawna, delivering

135
00:06:53,040 --> 00:06:56,400
Speaker 2: a strong debut just weeks after the entertainment giants Utopia

136
00:06:56,480 --> 00:07:00,640
Speaker 2: Too broke records for a foreign animated film the country.

137
00:07:04,120 --> 00:07:05,760
Speaker 2: Time now for look at some of the other stories

138
00:07:05,760 --> 00:07:07,560
Speaker 2: making news in New York and around the world, and

139
00:07:07,560 --> 00:07:11,280
Speaker 2: for that we're joined by Bloomberg's Michael Barr. Michael, Welcome back, thank.

140
00:07:11,120 --> 00:07:14,520
Speaker 11: You very much. Karen Rapper Nicki Minaj Sunday put her

141
00:07:14,520 --> 00:07:18,200
Speaker 11: full support to President Donald Trump and Vice President JD.

142
00:07:18,400 --> 00:07:21,239
Speaker 11: Vance on the last day of the annual Turning Point

143
00:07:21,400 --> 00:07:24,520
Speaker 11: USA convention in Phoenix. It is the first time the

144
00:07:24,640 --> 00:07:29,200
Speaker 11: organization met since its founder, late conservative activist Charlie Kirk,

145
00:07:29,320 --> 00:07:34,160
Speaker 11: was assassinated in September. His widow and now Turning Point

146
00:07:34,280 --> 00:07:38,920
Speaker 11: USA CEO Erica Kirk, endorsed Vance for president in twenty

147
00:07:39,000 --> 00:07:43,240
Speaker 11: twenty eight. Yesterday, Vance touted Trump administration accomplishments.

148
00:07:43,320 --> 00:07:47,120
Speaker 4: We have relegated DEI to the dustbin of history, which

149
00:07:47,160 --> 00:07:49,800
Speaker 4: is exactly where it belongs.

150
00:07:50,200 --> 00:07:52,880
Speaker 11: Vice President ad Vance went on to say the conservative

151
00:07:52,880 --> 00:07:56,560
Speaker 11: movement should welcome anyone who loves America. The USA is

152
00:07:56,640 --> 00:08:00,640
Speaker 11: experiencing a surge of the flu this season. The CDC

153
00:08:00,880 --> 00:08:05,040
Speaker 11: is already tallied up more than four million cases. Doctor

154
00:08:05,080 --> 00:08:08,640
Speaker 11: Benjamin A. Bella is the Chair of Emergency Medicine at

155
00:08:08,640 --> 00:08:11,239
Speaker 11: the Mount SI and I Health System in New York City.

156
00:08:11,720 --> 00:08:15,440
Speaker 9: Flu shots are effective and safe for people's youngest six

157
00:08:15,560 --> 00:08:16,480
Speaker 9: months of age.

158
00:08:16,720 --> 00:08:18,240
Speaker 3: We definitely recommend the flu shot.

159
00:08:18,320 --> 00:08:20,640
Speaker 9: It is not too late, and it can greatly reduce

160
00:08:20,720 --> 00:08:23,440
Speaker 9: the risk of serious disease and even hospitalization.

161
00:08:24,000 --> 00:08:26,800
Speaker 11: So far, the flu has killed two thousand people, including

162
00:08:26,800 --> 00:08:30,520
Speaker 11: two children. New York, Rhode Island, and Louisiana are some

163
00:08:30,600 --> 00:08:34,239
Speaker 11: of the states seeing very high levels of flu activity.

164
00:08:34,800 --> 00:08:37,920
Speaker 11: New York City Mayor elects Zorn Mamdanie takes over to

165
00:08:38,000 --> 00:08:40,920
Speaker 11: leave the city when the ball drops. On New Year's Day,

166
00:08:41,200 --> 00:08:44,520
Speaker 11: ma'm donnie announced that he is throwing a giant bloc

167
00:08:44,600 --> 00:08:48,439
Speaker 11: party for his inauguration after the swearing in ceremony at

168
00:08:48,440 --> 00:08:52,400
Speaker 11: City Hall. Music and performances will fill Broadway. Ma'm donnie

169
00:08:52,440 --> 00:08:54,719
Speaker 11: spoke during a social media video.

170
00:08:54,960 --> 00:08:59,160
Speaker 7: This is not my victory, this is ours.

171
00:08:59,200 --> 00:09:01,920
Speaker 11: In a written state eight months Sunday, Mamdannie says, this

172
00:09:02,040 --> 00:09:05,400
Speaker 11: inauguration is the celebration of the movement we built, the

173
00:09:05,440 --> 00:09:08,640
Speaker 11: mandate we won, and the city we are prepared to

174
00:09:08,720 --> 00:09:12,120
Speaker 11: lead global news twenty four hours a day and whenever

175
00:09:12,160 --> 00:09:14,839
Speaker 11: you wanted with the Bloomberg News. Now, I'm Michael Barr,

176
00:09:14,920 --> 00:09:16,160
Speaker 11: and this is Bloomberg.

177
00:09:16,240 --> 00:09:20,280
Speaker 2: Karen, all right, Michael Barr, thank you, Thanks Michael. Time

178
00:09:20,360 --> 00:09:23,080
Speaker 2: now for our Bloomberg sports update, and for that we

179
00:09:23,120 --> 00:09:24,480
Speaker 2: bring in John stash Hour.

180
00:09:24,760 --> 00:09:25,320
Speaker 3: Thanks Karen.

181
00:09:25,400 --> 00:09:28,719
Speaker 13: Close. Division races in the AFC the Patriots. Last night,

182
00:09:28,800 --> 00:09:31,079
Speaker 13: rallied in the fourth quarter and won in Baltimore twenty

183
00:09:31,080 --> 00:09:33,080
Speaker 13: eight to twenty four. The Pats stay a game ahead

184
00:09:33,120 --> 00:09:36,120
Speaker 13: of Buffalo in the East. The Bills won in Cleveland.

185
00:09:36,200 --> 00:09:38,719
Speaker 13: Pittsburgh won at Detroit and now has a two game

186
00:09:38,840 --> 00:09:40,080
Speaker 13: lead on the Ravens.

187
00:09:40,080 --> 00:09:40,559
Speaker 11: In the North.

188
00:09:40,640 --> 00:09:43,559
Speaker 13: Jacksonville sixth straight win thirty four to twenty. In Denver,

189
00:09:43,880 --> 00:09:46,679
Speaker 13: the Jaguars lead Houston. Buy a game in the South

190
00:09:46,760 --> 00:09:49,840
Speaker 13: that Texans beat the Raiders, the Broncos loss, and the

191
00:09:49,920 --> 00:09:52,840
Speaker 13: Chargers win at Dallas, La trails by a game. That's

192
00:09:52,880 --> 00:09:54,000
Speaker 13: your Bloomberg Sports update.

193
00:09:55,559 --> 00:09:56,320
Speaker 3: Stay with us.

194
00:09:56,440 --> 00:09:59,400
Speaker 2: More from Bloomberg day Break coming up after this.

195
00:10:02,640 --> 00:10:06,760
Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius Exam,

196
00:10:06,920 --> 00:10:09,760
Speaker 1: and around the world on Bloomberg dot Com and the

197
00:10:09,800 --> 00:10:12,880
Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.

198
00:10:12,960 --> 00:10:13,360
Speaker 3: Good morning.

199
00:10:13,360 --> 00:10:16,079
Speaker 4: I'm Nathan Hager. In the US pressure campaign against Nicholas

200
00:10:16,120 --> 00:10:18,800
Speaker 4: Medoro's kicking into higher gear this morning with the Coast

201
00:10:18,800 --> 00:10:23,600
Speaker 4: Guard in pursuit of another sanctioned vessel off the Venezuelan coast.

202
00:10:23,600 --> 00:10:25,760
Speaker 4: It is the third tanker to be targeted under an

203
00:10:25,800 --> 00:10:29,400
Speaker 4: intensifying blockade and joining us for the very latest this

204
00:10:29,480 --> 00:10:33,440
Speaker 4: morning is Bloomberg's DC Breaking News editor Alexander Pearson.

205
00:10:33,520 --> 00:10:34,480
Speaker 3: Alex Good morning.

206
00:10:34,480 --> 00:10:37,280
Speaker 4: What do we know about this vessel that the US

207
00:10:37,440 --> 00:10:39,920
Speaker 4: is pursuing in all the others that it's been intercepting

208
00:10:39,960 --> 00:10:41,240
Speaker 4: in just the last couple of weeks.

209
00:10:41,240 --> 00:10:43,840
Speaker 3: Good morning, Good morning, Nathan.

210
00:10:44,440 --> 00:10:46,240
Speaker 14: Yeah, So the latest that we know is that the

211
00:10:46,320 --> 00:10:50,439
Speaker 14: US is still pursuing this vessel that was announced yesterday

212
00:10:50,480 --> 00:10:53,720
Speaker 14: and the latest as we haven't had any confirmation that

213
00:10:53,760 --> 00:10:56,520
Speaker 14: it's been boarded yet, so we know that it's still

214
00:10:56,559 --> 00:11:00,559
Speaker 14: in pursuit. And this comes after just a day earlier,

215
00:11:00,880 --> 00:11:05,360
Speaker 14: over the weekend, the US boarded actually another vessel that

216
00:11:05,600 --> 00:11:10,280
Speaker 14: was full of Venezuelan crude that was leaving Venezuela, and

217
00:11:10,880 --> 00:11:13,719
Speaker 14: that also and then that came after a couple of

218
00:11:13,720 --> 00:11:18,360
Speaker 14: weeks ago the US intercepted the very first oil tanker

219
00:11:19,440 --> 00:11:22,960
Speaker 14: off the coast of Texas. And so yeah, it's all

220
00:11:23,000 --> 00:11:25,720
Speaker 14: part of this intensifying campaign by the Trump administration to

221
00:11:25,920 --> 00:11:28,800
Speaker 14: blockade oil exports from Venezuela.

222
00:11:29,559 --> 00:11:31,840
Speaker 4: And we're seeing a bit of a reaction in the

223
00:11:31,840 --> 00:11:34,800
Speaker 4: oil market this morning, with both West Texas Intermediate and

224
00:11:34,920 --> 00:11:37,679
Speaker 4: Brent crewed up one percent in the session. Could this

225
00:11:37,880 --> 00:11:42,040
Speaker 4: have a broader impact on the crew the crude market

226
00:11:42,040 --> 00:11:43,120
Speaker 4: globally alex.

227
00:11:44,520 --> 00:11:47,280
Speaker 14: It certainly could have a small impact, and you know,

228
00:11:47,520 --> 00:11:51,480
Speaker 14: in terms of the day after price movements, there will

229
00:11:51,480 --> 00:11:53,000
Speaker 14: probably you know, there's always a bit of a spike

230
00:11:53,040 --> 00:11:55,840
Speaker 14: after these incidents, but in the broader context of things,

231
00:11:56,200 --> 00:11:58,240
Speaker 14: it's unlikely to have any kind of, you know, long

232
00:11:58,320 --> 00:12:02,360
Speaker 14: term impact on global crew prices. That largely has to

233
00:12:02,360 --> 00:12:04,760
Speaker 14: do with the fact that while Venezuela has a lot

234
00:12:04,800 --> 00:12:07,720
Speaker 14: of reserves of oil, it actually is quite a small

235
00:12:07,760 --> 00:12:10,520
Speaker 14: player in the global oil market right now. It's exports

236
00:12:10,559 --> 00:12:13,360
Speaker 14: only account for just under one percent of global demand.

237
00:12:13,880 --> 00:12:15,960
Speaker 14: That has a lot to do with US pressure so far,

238
00:12:16,600 --> 00:12:20,640
Speaker 14: and so in terms of that impact, it's not likely

239
00:12:20,679 --> 00:12:23,079
Speaker 14: to have a major impact. Also because actually the global

240
00:12:23,160 --> 00:12:26,320
Speaker 14: there's a lot of glut in the oil markets right

241
00:12:26,360 --> 00:12:28,079
Speaker 14: now going into twenty twenty six.

242
00:12:28,520 --> 00:12:30,480
Speaker 4: Are we seeing any sign that this is having any

243
00:12:30,520 --> 00:12:33,040
Speaker 4: impact on the Maduro regime? Of course, we don't have

244
00:12:33,280 --> 00:12:37,080
Speaker 4: just this blockade, but we have the ongoing military strikes

245
00:12:37,120 --> 00:12:40,400
Speaker 4: on suspected drug running boats as well.

246
00:12:41,600 --> 00:12:46,200
Speaker 14: So far, the Maduro government has been quite defiant in

247
00:12:46,280 --> 00:12:49,480
Speaker 14: terms of all of these tactics that the Trump administration

248
00:12:49,559 --> 00:12:53,480
Speaker 14: has used. You mentioned the strikes on suspected Narco terrorist boats.

249
00:12:54,160 --> 00:12:57,200
Speaker 14: Trump has also authorized covert CIA operations in the country.

250
00:12:57,240 --> 00:13:01,719
Speaker 14: He's also threatened land strikes on targets within Venezuela, and

251
00:13:01,760 --> 00:13:06,000
Speaker 14: he's even refused to rule out a full war with Venezuela.

252
00:13:06,120 --> 00:13:07,959
Speaker 14: So the pressure is very much there. But the Maduro

253
00:13:08,040 --> 00:13:12,400
Speaker 14: government so far has you know, defied that and has

254
00:13:12,440 --> 00:13:15,680
Speaker 14: claimed that it can keep on going. But with now

255
00:13:15,760 --> 00:13:18,480
Speaker 14: this latest oil blockade, you know, it's really unclear whether

256
00:13:18,520 --> 00:13:20,920
Speaker 14: it can given how much pressure it's putting on the

257
00:13:21,000 --> 00:13:22,720
Speaker 14: key source of revenue for this government.

258
00:13:23,120 --> 00:13:24,600
Speaker 3: Got about a minute left here, Alex.

259
00:13:24,640 --> 00:13:27,400
Speaker 4: We see on the White House schedule that President Trump

260
00:13:27,440 --> 00:13:30,960
Speaker 4: has an announcement this afternoon with the secretaries of Defense

261
00:13:31,160 --> 00:13:34,520
Speaker 4: and the Navy. What are we expecting to come out

262
00:13:34,520 --> 00:13:36,439
Speaker 4: of that announcement, if anything.

263
00:13:37,720 --> 00:13:38,160
Speaker 11: That's right.

264
00:13:38,160 --> 00:13:40,880
Speaker 14: We did get that update this morning. It's actually unclear

265
00:13:41,080 --> 00:13:44,480
Speaker 14: at the moment in terms of what exactly they're going

266
00:13:44,559 --> 00:13:47,600
Speaker 14: to speak about. Given everything that happened over the weekend

267
00:13:47,720 --> 00:13:49,600
Speaker 14: with the boarding of this one tanker in the pursuit

268
00:13:49,640 --> 00:13:53,360
Speaker 14: of another, and just the growing escalation against Venezuela. It

269
00:13:53,440 --> 00:13:57,040
Speaker 14: seems highly likely that they'll address this issue in particular,

270
00:13:57,600 --> 00:14:00,840
Speaker 14: but we've heard nothing from the administration fought to confirm

271
00:14:00,920 --> 00:14:03,280
Speaker 14: that that will be the topic or what exactly they

272
00:14:03,280 --> 00:14:05,360
Speaker 14: will announce with you know, within that policy.

273
00:14:05,400 --> 00:14:10,240
Speaker 2: On Venezuela, This is Bloomberg Daybreak, your morning podcast on

274
00:14:10,320 --> 00:14:13,959
Speaker 2: the stories making news from Wall Street to Washington and beyond.

275
00:14:14,240 --> 00:14:16,640
Speaker 4: Look for us on your podcast feed by six am

276
00:14:16,679 --> 00:14:20,080
Speaker 4: Eastern each morning, on Apple, Spotify, or anywhere else you listen.

277
00:14:20,280 --> 00:14:23,120
Speaker 2: You can also listen live each morning starting at five

278
00:14:23,160 --> 00:14:25,880
Speaker 2: am Wall Street time on Bloomberg eleven three to zero

279
00:14:25,880 --> 00:14:28,800
Speaker 2: in New York, Bloomberg ninety nine to one in Washington,

280
00:14:28,840 --> 00:14:32,800
Speaker 2: Bloomberg ninety two nine in Boston, and nationwide on serious

281
00:14:33,000 --> 00:14:34,720
Speaker 2: XM Channel one twenty one.

282
00:14:34,960 --> 00:14:37,680
Speaker 4: Plus listen coast to coast on the Bloomberg Business app

283
00:14:37,720 --> 00:14:40,560
Speaker 4: now with Apple CarPlay and Android auto interfaces.

284
00:14:40,760 --> 00:14:43,800
Speaker 2: And don't forget to subscribe to Bloomberg News Now. It's

285
00:14:43,800 --> 00:14:46,520
Speaker 2: the latest news whenever you want it in five minutes

286
00:14:46,640 --> 00:14:49,760
Speaker 2: or less. Search Bloomberg News Now and your favorite podcast

287
00:14:49,800 --> 00:14:53,960
Speaker 2: platform to stay informed all day long. I'm Karen Moscow.

288
00:14:53,720 --> 00:14:54,720
Speaker 3: And I'm Nathan Hager.

289
00:14:54,880 --> 00:14:56,920
Speaker 4: Join us again tomorrow morning for all the news you

290
00:14:56,960 --> 00:14:59,520
Speaker 4: need to start your day right here on Bloomberg Day

291
00:14:59,560 --> 00:15:06,000
Speaker 4: Ray