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Speaker 1: News when you wanted to with Bloomberg News. Now I'm

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Speaker 1: Doug Prisoner. The US House has voted down legislation to

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Speaker 1: force a halt to US strikes on Iran. It means

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Speaker 1: President Frump can proceed in this conflict with uncertain cost,

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Speaker 1: consequences and economic effects. Iran meantime, launched a fresh wave

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Speaker 1: of missile and drone strikes across the Gulf. Attacks were

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Speaker 1: reported in the United Arab Emirates, Bahrain, Cutter and Kuwait.

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Speaker 1: The State Department closed the US embassy in Kuwait, and

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Speaker 1: we heard today from Defense Secretary Pete Hegseth on the

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Speaker 1: US operation. He said it will take as long as necessary.

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Speaker 2: Our authorities, his authorities, Sentcom's authorities, through the President and

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Speaker 2: myself are maxed out. Our capabilities are overwhelming and gathering still,

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Speaker 2: as are.

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Speaker 3: Those of our Israeli partners.

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Speaker 2: Our munitions are full up, and our will is iron clad,

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Speaker 2: which means our timeline is our hours alone to control.

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Speaker 1: At the same time, Admiral Brad Cooper provided an update

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Speaker 1: on the operation.

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Speaker 3: The President gave us another task to raise or level

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Speaker 3: Iran's ballistic missile industrial base, so we're not just hitting

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Speaker 3: what they have we're destroying their ability to rebuild, and

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Speaker 3: so as we transition to the next phase of this operation,

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Speaker 3: we will systemically dismantle Iran's missile production capability for the future.

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Speaker 3: And that's absolutely in progress. This is going to take

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Speaker 3: some time, but our forces are well supplied.

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Speaker 1: Meantime, President Trump told Axios that he needs to be

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Speaker 1: personally involved in selecting Iran's next leader. Trump said the

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Speaker 1: son of the assassinated Supreme Leader Ale Camene, would just

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Speaker 1: continue his father's policies and that he said, would force

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Speaker 1: the US back to war. The price of crude oil

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Speaker 1: jumped to New York trading on signs Mid East flows

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Speaker 1: or being disrupted energy infrastructure shutdowns may begin in the region.

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Speaker 1: In the New York session, WTI surged eight and a

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Speaker 1: half percent to eight V one, the highest level since

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Speaker 1: January twenty twenty five. Price is then retreated a bit

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Speaker 1: in the electronic session on a report of potential Treasury

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Speaker 1: action within the US oil futures market, Reuter's reported an

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Speaker 1: announcement could come soon. Meantime, Interior Secretary Doug Bergam said

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Speaker 1: everything is being considered. Bergham also leads the National Energy

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Speaker 1: Dominance Council. So far, President Trump has indicated his unwillingness

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Speaker 1: to use these strategic petroleum reserves to alleviate pressures for consumers.

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Speaker 1: Paisley Nardini is portfolio manager at Simplify Asset Management.

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Speaker 4: Provided these tensions persist, as we've seen, oil and gas

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Speaker 4: still has a lot more to run. We're still sub

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Speaker 4: one hundred dollars a barrel in oil, and if this

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Speaker 4: continues for much longer, I think that we could easily

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Speaker 4: surpass one hundred dollars per barrel oil. Ultimately, that just

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Speaker 4: leads to commodities being a core part of a portfolio

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Speaker 4: for the diversification.

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Speaker 1: Paisley Nardini at Simplify Asset Management. Meantime, the Wall Street

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Speaker 1: Journal is reporting foreign ministers of the Arab League member

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Speaker 1: states will be holding an emergency meeting on Sunday. The

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Speaker 1: US will allow some Russian oil sales to India. This

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Speaker 1: move will give India more options to purchase fuel as

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Speaker 1: the war on Iran leads to a spike in global

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Speaker 1: crude prices. Now, the US Treasury Department will issue a

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Speaker 1: temporary waiver allowing Indian refiners to purchase Russian oil. US

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Speaker 1: Treasury Secretary Scott Besson said it will not provide significant

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Speaker 1: financial benefit to the Russian government. President Trump has removed

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Speaker 1: Christy nom as Homeland Security Secretary. Nome will be replaced

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Speaker 1: by Oklahoma Senator Mark Wayne Mullen now. Trump said the

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Speaker 1: move would take effect on March thirty. First, here is

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Speaker 1: Mullen speaking to reporters.

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Speaker 5: Guard if you support me, if you don't support me,

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Speaker 5: in regardless of what your thoughts are.

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Speaker 1: I'm here to enforce the policies that Congress passed, and

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Speaker 1: right now I am part of it.

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Speaker 2: But once I make that transition, my focus is to

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Speaker 2: keep the homeland secure.

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Speaker 1: Now. This change came after Nome faced bipartisan rebukes during

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Speaker 1: her congressional hearings this week. Nome will continue to work

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Speaker 1: in the administration. Trump said she will be the Special

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Speaker 1: Envoy for the Shield of the Americas. The President said

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Speaker 1: this new security initiative will be detailed this weekend. At

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Speaker 1: the same time, the White House said it is working

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Speaker 1: to confirm Mullen as quickly as possible. Separately, the US

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Speaker 1: and Venezuela have agreed to re establish diplomatic relations. Anthropic

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Speaker 1: is expecting a legal battle with the Pentagon. This is

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Speaker 1: after the Defense Department deemed Anthropic and its AI products

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Speaker 1: a risk to the US supply chain now. Until recently,

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Speaker 1: Anthropic provided the only AI system that could operate in

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Speaker 1: the Pentagon's classified cloud, and for weeks CEO Dario Amide

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Speaker 1: had been trying to get a contract governing the Pentagon's

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Speaker 1: access to Anthropics technology, but talks broke down last week

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Speaker 1: when the company demanded assurances that its AI would not

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Speaker 1: be used for mass survey all of Americans or autonomous

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Speaker 1: weapons deployment. After the Bell, Costco reported its quarterly profit

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Speaker 1: rose more than expected. The club chain has been capitalizing

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Speaker 1: on an extended period of sales growth. Here is our

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Speaker 1: room Sundarum of cfr A Research.

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Speaker 5: One highlight this quarter is the membership fee income to

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Speaker 5: closely watch line ADAM for Costco, that was up fourteen

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Speaker 5: percent this quarter. It was actually up fourteen percent of

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Speaker 5: the past few quarters as well. Part of that is

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Speaker 5: because a few years ago Costco did raise its membership

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Speaker 5: fees in the United States. But they also continue to

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Speaker 5: grow their membership base as well, and especially important that

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Speaker 5: they're growing not just the membership base, but more of

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Speaker 5: its members are signing up for that executive membership. The

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Speaker 5: higher cheer membership.

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Speaker 1: That is a room sundarum of cfr A Research shares

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Speaker 1: in Costco down about two tens to one percent in

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Speaker 1: late US trading. And that is news when you want it.

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Speaker 1: With Bloomberg News Now, I'm Doug Krisner, and this is

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Speaker 1: Bloomberg