WEBVTT - Iran Keeps Striking Gulf; Oil Set for Weekly Surge

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning. I'm Karen Moscow and I'm John Tucker. Here

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<v Speaker 2>are these stories we're following today.

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<v Speaker 3>Well, John, the apparent stabilization in the energy and equity Marcus.

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<v Speaker 3>This morning comes as the US and Israel reassure world

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<v Speaker 3>leaders and investors they will no longer target energy infrastructure

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<v Speaker 3>in Iran. Oil and gas prices have surged this week

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<v Speaker 3>following strikes from both sides. As heard right here on

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<v Speaker 3>Bloomberg Radio, President Trump said he told Israeli Prime Minister

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<v Speaker 3>Benjamin Att and Yahoo to stop attacking Iranian oil and

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<v Speaker 3>gas fields.

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<v Speaker 4>I told him, don't do that, and he won't do that.

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<v Speaker 4>We didn't discuss, you know, we do. We're independent. We

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<v Speaker 4>get along great, it's coordinated. But on occasion he'll do

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<v Speaker 4>something and if I don't like it, and so we're

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<v Speaker 4>not doing that anymore.

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<v Speaker 3>And President Trump also told the reporters he is not

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<v Speaker 3>putting troops anywhere. If I were, I certainly wouldn't tell you.

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<v Speaker 2>It is really Prime Minister Bevinia Benetna, who said his

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<v Speaker 2>country would no longer target energy infrastructure after its attack

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<v Speaker 2>on an Iranian gas field that sparked retaliatory strikes.

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<v Speaker 5>Israel acted alone against the SLOWEA gas compound. Fact number two.

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<v Speaker 6>President Trump asked us to hold off on future attacks,

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<v Speaker 6>and we're holding out.

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<v Speaker 2>Benjaminetna, whose comments came after Israeli officials previously said they

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<v Speaker 2>had to inform the US about the attack.

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<v Speaker 3>Still John Oil heading for another weekly gain as the

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<v Speaker 3>war in the Middle East drags on. The straight up

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<v Speaker 3>Horor Moves is on but closed, and analysts warned that

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<v Speaker 3>the crisis may deepen. Well Kennedy covers the oil markets

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<v Speaker 3>for Bloomberg.

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<v Speaker 6>Ivon has throughout this conflict and continues to strike energy infrastructure.

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<v Speaker 6>It has from the beginning hit refineries throughout the region,

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<v Speaker 6>and we saw enough strike this morning on a Qight refinery.

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<v Speaker 6>So there hasn't been a stop to this strikes on

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<v Speaker 6>energy infrastructure in the region. But as long as holl

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<v Speaker 6>Moves is closed, the energy problems will remain. The main

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<v Speaker 6>fundamental driver of energy markets right now is a straight

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<v Speaker 6>up Hoar Moos, which is normally responsible for twenty percent

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<v Speaker 6>of the world's energy flows, is effectively shut. We're probably

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<v Speaker 6>losing about half of that ten million dollars a day roughly.

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<v Speaker 6>That's unsustainable and less places go much much much higher, and.

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<v Speaker 3>As blimbers will Kennedy and other energy markets, European natural

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<v Speaker 3>gas futures surge to almost double their pre war level.

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<v Speaker 3>Fuel prices also climbed, with central bankers warning that the

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<v Speaker 3>conflict carries the risks of tighter monetary policy.

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<v Speaker 7>And care in.

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<v Speaker 2>Tensions between the UNS and Japan over the around world

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<v Speaker 2>remained evident as President Trump hosted the Prime Minister Sunday

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<v Speaker 2>tuki Ichi at the White House. Your President Trump's response

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<v Speaker 2>when a reporter has them why the US hadn't inform

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<v Speaker 2>Japan and European allies in advance of his striking Iran

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<v Speaker 2>One thing.

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<v Speaker 4>You don't want to signal too much. You know, when

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<v Speaker 4>we go in, we went in very hard, and we

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<v Speaker 4>didn't tell anybody about it because we wanted surprise. Who

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<v Speaker 4>knows better about surprise than Japan?

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<v Speaker 3>Okay?

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<v Speaker 7>Why didn't you tell me about Pearl Harbor? Okay?

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<v Speaker 2>Japanese Prime Minister's Sonatakichi's slight smile appeared to drop. She

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<v Speaker 2>raised her eyebrows. However, President Trump and the Prime Minister

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<v Speaker 2>otherwise exchanged warm words during their White House meeting, including

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<v Speaker 2>him calling her a popular, powerful, woman well.

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<v Speaker 3>John the Director of National Intelligence. Telsey Gabbard acknowledge to

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<v Speaker 3>lawmakers at the US and Israel have different goals for

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<v Speaker 3>their joint military campaign in Iran, and Bloomberg's Amy Morris

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<v Speaker 3>has more from Washington.

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<v Speaker 8>Gabard says the Trump administration's goals are centered on degrading

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<v Speaker 8>Iran's military, but Israel's aim is to remove Iran's leadership.

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<v Speaker 9>We can see through the operations that the Israeli government

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<v Speaker 9>has been focused on disabling the Iranian leadership and taking

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<v Speaker 9>out several members, obviously beginning with the Ayatola and the

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<v Speaker 9>Supreme Leader.

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<v Speaker 8>The conflict has led to Iranian retaliation against several Gulf

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<v Speaker 8>countries and strained US ties with allies in Europe. Gabbard

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<v Speaker 8>says she does not know if Israel supports President Trump's

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<v Speaker 8>desire for a deal with Iran. She was on Capitol

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<v Speaker 8>Hill for a House Committee hearing on Global threats in Washington.

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<v Speaker 8>Amy Moore as Bloomberg Radio.

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<v Speaker 2>And in other news this morning. The Justice Department has

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<v Speaker 2>sent a subpoena to former FBI and director James call Mey.

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<v Speaker 2>This is part of an investigation into whether former law

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<v Speaker 2>enforcement and intelligence officials waged a conspiracy against President Trump.

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<v Speaker 2>The subpoena seeks information about Comby's role in putting together

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<v Speaker 2>an intelligence assessment about rudj's interference in the twenty sixteen

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<v Speaker 2>presidential election.

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<v Speaker 3>John, let's turn to the Marcus, where stocks are on

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<v Speaker 3>track for a third straight week of losses and it

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<v Speaker 3>could be another volatile session as we close out the

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<v Speaker 3>trading week. It is triple Witching day on Wall Street.

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<v Speaker 3>Bloomberg's Tom Busby has more on what to look for.

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<v Speaker 10>Wall Street bracing for what could it be an unusually

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<v Speaker 10>volatile day because of a large number of stock index

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<v Speaker 10>and ETF options expiring today roughly five point seven trillion

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<v Speaker 10>dollars worth now this triple which in comes at a

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<v Speaker 10>troubling time for the markets, with the war and Iran

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<v Speaker 10>about to enter its fourth week, oil prices at multi

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<v Speaker 10>year highs, and a lot of traders now lowering their

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<v Speaker 10>bets for any interest rate cuts from the Fed this

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<v Speaker 10>year in order to keep an expected jump in inflation

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<v Speaker 10>somewhat in check. Tom Busby, Bloomberg Radio.

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<v Speaker 2>Thanks Tom, and in company who shares Fedax. They're up

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<v Speaker 2>more than ten percent in early trading, but raising their

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<v Speaker 2>full year profit forecast. FedEx says it does not expect

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<v Speaker 2>the war in the Middle East to have a direct

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<v Speaker 2>material impact on its business.

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<v Speaker 3>Well in the US says charged a super Microcomputer co

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<v Speaker 3>founder with sending AI technology to Asia. John Prosecutor's charge

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<v Speaker 3>Yi Shwan wally Leau in a scheme to send US

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<v Speaker 3>assembled servers containing in videos cutting edge chips to China

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<v Speaker 3>and violation of UX export controls. The indictment marks the

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<v Speaker 3>big is chip smuggling case prosecutors have pursued since first

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<v Speaker 3>restricting in video shipments to China. On twenty twenty two,

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<v Speaker 3>shares of super microw aer down twenty two percent in

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<v Speaker 3>early trading.

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<v Speaker 2>And Open Ai developing a desktop application to bring together

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<v Speaker 2>its popular chat GPT, chat pot coding tool and web browser.

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<v Speaker 2>That's an effort to keep users engaged in the face

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<v Speaker 2>of fierce competition for rivals like Anthropic. It's unclear when

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<v Speaker 2>the application.

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<v Speaker 3>Is going to launch, and we have a programming note.

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<v Speaker 3>John markets make Clowse on Fridays, but the world does not.

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<v Speaker 3>And that's why we're bringing you a new live radio

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<v Speaker 3>and TV show, Bloomberg this weekend is looking beyond the

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<v Speaker 3>daily headlines. So the bigger themes driving politics, business and culture.

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<v Speaker 3>Joined David Gera, Christina Raffini, and Lisa Matteo for smart

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<v Speaker 3>conversations and in depth interviews that help make sense of

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<v Speaker 3>the week that's been and what comes next. Get Bloomberg

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<v Speaker 3>This Weekend Live Saturdays and Sundays from seven am Eastern

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<v Speaker 3>on Bloomberg Radio, TV and the Bloomberg Business App.

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<v Speaker 2>It's five Wait on Wall Street time for look at

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<v Speaker 2>some of the other stories making news in New York

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<v Speaker 2>and around the world. And for that we're joined by

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<v Speaker 2>Bloomberg's Michael Barr. Thank you very much, John. The TSA

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<v Speaker 2>callout raid has grown. It's nearly forty percent at Hartsfield

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<v Speaker 2>Jackson Atlanta International Airport. Agents haven't been paid due to

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<v Speaker 2>the February twenty seventh partial government shutdown over immigration reforms.

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<v Speaker 2>Because of the call out, security waight times are growing

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<v Speaker 2>for travelers. Ricky Smith is the general manager of Hartsfield Atlanta.

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<v Speaker 2>He suggests passengers arrive at least three hours before a

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<v Speaker 2>flight's departure time.

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<v Speaker 11>The lines are steady, they moving because TSA work is

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<v Speaker 11>a continue to provide professionalism that we expect them to.

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<v Speaker 11>So the lines are moving and passengers are getting to

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<v Speaker 11>their flights. It's just taking a little more time for

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<v Speaker 11>them to get to the security check once.

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<v Speaker 5>Meanwhile, the Senate has unanimously passed a bill that ends

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<v Speaker 5>a congressional perk which allows federal lawmakers to skip the

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<v Speaker 5>TSA secure line at the airport at least until the

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<v Speaker 5>homeland security shut down ends. The measure was introduced by

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<v Speaker 5>Senator John Cornyt.

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<v Speaker 8>Maybe, just maybe, if Congress has to live under the

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<v Speaker 8>same laws that everybody else does, it will motivate us

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<v Speaker 8>to get our.

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<v Speaker 5>Work done, Republican Senator John Cornyn. The bill now goes

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<v Speaker 5>to the House. We're learning two planes nearly collided as

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<v Speaker 5>they were landing at Newark Airport in New Jersey. The

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<v Speaker 5>incident happened Tuesday night. Flight radar shows and Alaska Airlines

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<v Speaker 5>seven point thirty seven was told by air traffic controllers

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<v Speaker 5>to go around just as it was about to land

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<v Speaker 5>because a FedEx Triple seven cargo plane was approaching on

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<v Speaker 5>an intersecting runway. The pilots pushed the engines, they went

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<v Speaker 5>back up, and they cleared the FedEx's plane by just

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<v Speaker 5>three hundred feet. The FAA is investigating. Spanish authorities say

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<v Speaker 5>they have found the body of missing University of Alabama

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<v Speaker 5>college student James Jimmy Gracie from Illinois, who was missing

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<v Speaker 5>for more than two days. The body of the twenty

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<v Speaker 5>year old was found last evening in the waters off

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<v Speaker 5>of Barcelona Beach, near where he was last seen outside

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<v Speaker 5>a nightclub with his friend's early Tuesday. While on spring

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<v Speaker 5>Break Global News twenty four hours a day and whenever

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<v Speaker 5>you wanted with Bloomberg News Now, I'm Michael Varr, and

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<v Speaker 5>this is Bloomberg.

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<v Speaker 7>Thanks Michael.

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<v Speaker 3>Time now for our Bloomberg scores update, and for that

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<v Speaker 3>we bring in Dan Schwartzman.

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<v Speaker 7>March Madness field was sixty four got underway with top

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<v Speaker 7>seed Duke Havin to comeback from an eleven point halftime

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<v Speaker 7>deficit to beat Sienna. That were some major upsets to

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<v Speaker 7>twelve seed high points done Wisconsin. Eleven seed Vcu erased

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<v Speaker 7>a nineteen points second half deficit to knockoff North Carolina

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<v Speaker 7>in overtime, while eleven seeded Texas got past BYU. The

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<v Speaker 7>Lakers remained red hot as La knocked off the Heat

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<v Speaker 7>one thirty four to one to twenty six behind sixty

0:09:43.160 --> 0:09:46.000
<v Speaker 7>points from Luka Doncic. Elsewhere, the Spurs slip past the

0:09:46.000 --> 0:09:48.000
<v Speaker 7>Sun's one to one to one hundred, while the Magic

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<v Speaker 7>lost to the Hornets one thirty to one eleven. Close

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<v Speaker 7>to ten point eight million viewers tuned in to watch

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<v Speaker 7>Venezuela's thrilling three to two win over the United States

0:09:55.320 --> 0:09:58.199
<v Speaker 7>in the final of the World Baseball Classic. That's almost

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<v Speaker 7>twice a number of viewers who watched the US spat

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<v Speaker 7>Japan in twenty twenty three. That's your Bloomberg Sports Update.

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<v Speaker 8>Stay with us.

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<v Speaker 3>More from Bloomberg day Break coming up after this.

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<v Speaker 1>Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

0:10:17.880 --> 0:10:20.720
<v Speaker 1>and around the world on Bloomberg dot Com and the

0:10:20.720 --> 0:10:25.120
<v Speaker 1>Bloomberg Business app. This is Bloomberg Daybreak, and.

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<v Speaker 3>We are nearing the end of the third week of

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<v Speaker 3>the war with Iran. Israel Is saying it will no

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<v Speaker 3>longer target energy infrastructure after an attack on an Iranian

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<v Speaker 3>gas field spark retaliatory strikes against energy assets across the

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<v Speaker 3>Middle East, and that caused oil and gas prices to surge,

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<v Speaker 3>and it prompted a rebuke from President Trump. We want

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<v Speaker 3>to get the very latest at Bloomberg's Dumana Bversecchi in

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<v Speaker 3>Dubai Jumana, Good morning. What we did hear that Israel

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<v Speaker 3>in the US may be refraining from attacks on energy

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<v Speaker 3>infrastructure going forward, but it really doesn't mean Iran is

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<v Speaker 3>what's the latest on the fighting.

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<v Speaker 12>Yeah, that's right, And to your point, I think there

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<v Speaker 12>was an attempt to at least de escalate one part

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<v Speaker 12>of the war yesterday, which is specifically the Israeli attacks

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<v Speaker 12>on those gas fields in Iran, which was deemed to

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<v Speaker 12>be a red line, and President Cheoump visibly trying to

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<v Speaker 12>put a distance between himself and the military action that

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<v Speaker 12>Israel conducted, and actually was interesting to hear from Israeli

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<v Speaker 12>Prime Minister last night and he said that they did

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<v Speaker 12>act solo and upon the US's request, they are not

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<v Speaker 12>going to be targeting energy infrastructure anymore. Now that's not

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<v Speaker 12>to say that strikes on infrastructure is still not taking

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<v Speaker 12>place as we understand. There was a heavy wave of

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<v Speaker 12>air strikes over central Tehran overnight as well, but in retaliation,

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<v Speaker 12>I mean, Iran keep going and they keep lashing out

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<v Speaker 12>at Gulf allies. Overnight, more rounds of attempted attacks on

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<v Speaker 12>some key refineries in the region, another refinery in Kuwait

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<v Speaker 12>this morning announcing that it is halting production. This is

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<v Speaker 12>the second day in a road that it's been targeted.

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<v Speaker 12>They've also launched projectiles towards Saudi Arabia once again towards

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<v Speaker 12>their eastern oil fields, the northern part of Saudi Arabia.

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<v Speaker 12>Even yesterday an attempt on that Yanbu port on the

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<v Speaker 12>Red Seas, so not even on the Persian Gulf. So

0:12:16.280 --> 0:12:20.719
<v Speaker 12>the strikes on energy continue. But I think one thing

0:12:20.760 --> 0:12:23.400
<v Speaker 12>that has become apparent from the US and is really

0:12:23.440 --> 0:12:27.840
<v Speaker 12>perspective is the strikes on the Iran gas field are

0:12:28.120 --> 0:12:29.920
<v Speaker 12>I mean the plan it's for that not to be

0:12:29.960 --> 0:12:34.200
<v Speaker 12>repeated again out of the fear of how Iran could

0:12:34.240 --> 0:12:37.800
<v Speaker 12>respond specifically on some of those Gulf allies energy infrastructure.

0:12:38.160 --> 0:12:40.480
<v Speaker 3>And as you discussed all the finding that's still going on.

0:12:40.559 --> 0:12:43.200
<v Speaker 3>We did hear Benjaminett. Yeaho's sounding more optimistic that the

0:12:43.240 --> 0:12:45.600
<v Speaker 3>war could be over soon, but it really doesn't sound

0:12:45.640 --> 0:12:46.720
<v Speaker 3>like there's any sign of that.

0:12:48.200 --> 0:12:51.080
<v Speaker 12>No, absolutely not. And to what I was saying yesterday,

0:12:51.120 --> 0:12:54.959
<v Speaker 12>the military operations have continued overnight. A massive wave of

0:12:55.000 --> 0:12:58.160
<v Speaker 12>air strikes is what the ADF IDF have been describing,

0:12:58.960 --> 0:13:02.160
<v Speaker 12>and I think you know from their perspective, it's still

0:13:02.640 --> 0:13:06.120
<v Speaker 12>very clear that the key military objectives has still not

0:13:06.200 --> 0:13:09.760
<v Speaker 12>been achieved, even though so far they're happy with the

0:13:09.800 --> 0:13:12.599
<v Speaker 12>progress that has been made, and we're perhaps getting a

0:13:12.600 --> 0:13:16.120
<v Speaker 12>little bit more color on what those military objectives actually

0:13:16.160 --> 0:13:21.240
<v Speaker 12>are in terms of degrading Iran's military capabilities, degrading their

0:13:21.320 --> 0:13:26.439
<v Speaker 12>nuclear capabilities, the radication of their naval force, or complete

0:13:27.120 --> 0:13:30.960
<v Speaker 12>demolition of their naval forces is the term that US

0:13:31.000 --> 0:13:34.560
<v Speaker 12>President Trump has used. But then, interesting enough, overnight we

0:13:34.600 --> 0:13:37.840
<v Speaker 12>had some comments as well from Telsey Gobbert, the US

0:13:38.200 --> 0:13:41.400
<v Speaker 12>National Security Chief, and she was saying that there is

0:13:41.440 --> 0:13:44.560
<v Speaker 12>a bit of a divergence between the US's objectives and

0:13:45.000 --> 0:13:49.240
<v Speaker 12>Israel's objectives in that Israel perhaps have one step further,

0:13:49.400 --> 0:13:53.160
<v Speaker 12>which is that maybe one of their explicit objectives is

0:13:53.200 --> 0:13:55.680
<v Speaker 12>to see a change in leadership rights For the US.

0:13:55.760 --> 0:13:58.280
<v Speaker 12>It's mainly focused on the degradation of military power.

0:13:58.920 --> 0:14:01.880
<v Speaker 3>And as the fighting spreads as well, are we also

0:14:01.920 --> 0:14:04.480
<v Speaker 3>getting closer where we could see other nations coming in,

0:14:04.520 --> 0:14:07.720
<v Speaker 3>And if other nations come in, could that mean more

0:14:08.080 --> 0:14:12.880
<v Speaker 3>objectives come in as well and possibly change what we're

0:14:12.920 --> 0:14:13.680
<v Speaker 3>looking at here.

0:14:14.320 --> 0:14:15.880
<v Speaker 12>I think you have to think of that through the

0:14:15.920 --> 0:14:19.000
<v Speaker 12>framework of one what the US administration is trying to

0:14:19.000 --> 0:14:21.080
<v Speaker 12>do to reopen the strait, because as long as the

0:14:21.080 --> 0:14:23.240
<v Speaker 12>Strait of Homers remains closed, you're going to continue to

0:14:23.240 --> 0:14:26.240
<v Speaker 12>see this upward pressure on oil prices, on energy prices,

0:14:26.240 --> 0:14:28.280
<v Speaker 12>on gas prices, as we've been talking about the last

0:14:28.320 --> 0:14:32.280
<v Speaker 12>couple of weeks, and so far, countries around the world

0:14:32.320 --> 0:14:35.120
<v Speaker 12>have been very noncommittal in terms of willing to sign

0:14:35.160 --> 0:14:37.560
<v Speaker 12>up to those maritime missions because they don't want to

0:14:37.560 --> 0:14:41.280
<v Speaker 12>get involved in the war. But then the other way

0:14:41.360 --> 0:14:44.520
<v Speaker 12>to think about it as well is yesterday's actions and

0:14:44.560 --> 0:14:48.880
<v Speaker 12>the strike on Katar on Restafan facility was so significant

0:14:50.120 --> 0:14:52.800
<v Speaker 12>that we are seeing a shift and tone out of

0:14:52.800 --> 0:14:54.840
<v Speaker 12>some of these Gulf nations. And I will say that

0:14:54.880 --> 0:14:57.720
<v Speaker 12>it was really interesting to hear from the Saudi Foreign

0:14:57.720 --> 0:15:01.080
<v Speaker 12>Affairs Minister the night of those attats. He said that

0:15:01.120 --> 0:15:04.680
<v Speaker 12>Saudi Arabia's patients is not unlimited and they reserve the

0:15:04.760 --> 0:15:09.239
<v Speaker 12>rights to respond either politically or non politically.

0:15:11.040 --> 0:15:14.480
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