Trump Orders Hormuz Blockade; Hungary Rejects Orban in Seismic Vote

Bloomberg Audio Studios, Podcasts, Radio News.
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
All right, Karen. The US war with Iran may be
headed into a new phase after the breakdown of peace
talks in Pakistan over the weekend. President Trump says the
US will begin a full naval blockade of the Strait
of Horn Moves and retaliate against any Iranian resistance. The
President announced it on his way back to Washington last
night from Miami.
Ten o'clock tomorrow. We have a blockade going into a
pack that'll be ten o'clock tomorrow. Other nations are working
so that Iran.
Will not be able to.
Sell oil and that will be very effective.
And President Trump did not elaborate on which countries would
help with the blockade. We get more from Bloomberg's Jumana
Bursecci in Dubai.
The US will be sending more worship submarines, perhaps surveillance
aircraft to monitor all of the vessel's movements throughout the
course of the strait. President Trump has also said that
they will start interdicting any ships that agree to pay
a fee or transit fee to get through, and then
they will begin with the mind sweeping exercises as well,
possibly by deploying a specialist or even submarines in that space.
Too, bloombergs jomni Bersecci reports Iran's Revolutionary Guard Corps has
warned that any military vessel attempting to approach the strait
would be considered a violation of the ceasefire. This morning,
three tankers are trying to cross the straight ahead of
the blockade by sailing close to Iran's.
Coast Well Nathan.
This latest move in the Iran war is drawing a
sharp reaction in Washington. Democratic Senator Tim Kaine says it
never should have gone this far.
We had a diplomatic control over Iran, not seeking a
nuclear weapon that Donald Trump decided to tear up, and
we had an open straight of Hormuz and reasonable gas
prices up until February twenty seventh, when Donald Trump launched
this war without the support of allies the American public
Or Congress.
And Democrat Tim McCain appeared on ABC's This Week but
Republican Congress and Mike Turner says President Trump should have
more international support for the blockade. He was a guest
on CBS's Face the Nation.
The Straits are not just a United States issue, It
is also a europe issue.
It is a worldwide issue, and Iran shouldn't be permitted
to just decide who gets through.
And former White House National Security Advisor John Bolden says
President Trump should not stop with a blockade.
The only way to get true peace and security in
the Middle East is to have regime change in Iran.
You can negotiate all you want with these people, it's
not going to change anything.
And former National Security Advisor John Bolton spoke on Bloomberg
this weekend Catch That Show along with Face the Nation
and this week every Sunday on Bloomberg Radio.
Well, Karen, president Trump isn't just going after Iran, He's
also attacking Pope Leo the sixteenth after series of rebukes
from the American born pontiff over the war and the
idea that God is on the US side.
We don't like a hope that's gonna say that it's
okay to have a nuclear weapon. We don't want to
pope that says crime is okay in our cities. I
don't like it. I'm not a big fan of Poplio.
The President Trump again speaking with reporters on the tarmac
in Miami. He also attacked Poplio the fourteenth and a
social media post that included an image of himself dressed
in robes and healing a sick patient surrounded by a
medical worker and military members.
Well, Nathan, the UK will not take part in the
proposed US blockade of the Strait of horror Moogs. Let's
go to London and get the very latest. It's Bloomberg's
you and pass and you, and it looks like another
point of contention between President Trump and Prime Minister Keir Starmer.
Karlon Nathan. The British government continues to call for freedom
of navigation and the reopening of the Strait of hor Moose,
but Bloomberg has learned the UK will not take part
in President Trump's plan to blockade the waterway. The case
DAMA is set to lead another round of talks with
other nations on reopening the strait, but on the US blockade,
Starmer's position is again at odds with the US presidents
in London. I'm mute, ports Bloomberg Radio.
Okay, youwan, thank you. We are seeing some very big
moves in energy markets this morning following the latest war developments.
Right now, Brent crude is hired by seven point six percent,
trading above one hundred two dollars a barrel. West Texas
Intermedia it's up seven point eight percent at one hundred
and four dollars fifteen cents. Energy aspects found around. Rita
Send tells Bloomberg this weekend markets have been in denial.
You know what surprised me in this market is this
consistent belief. I would say a lot of the macro
traders have that somehow there will be a resolution because
the alternative is just too difficult to fathom, too difficult
to kind of really think through and say, Okay, what
does is due to the global economy. I don't disagree
with that, except that that's not the reason why the
straight is shocked to begin with.
Energy founder on Rita Sen says much of the supply
shock damage has already been done. She calls it the
biggest energy short fault in history, and stocks are falling
this morning as well. SMP futures are down more than
a half percent, down futures are lower by nearly a
half percent, and NASTAC futures on the decline by six
tenths of one percent.
Well, Nathan. Another major political story that we're following comes
out of Hungary. After sixteen years in power, Victor Orbon's
rule is coming to an end. Peter Majar's opposition Tiza
party is on track to win with almost all votes counted.
Bloomberg Chief Europe correspondent Oliver Cook has more from Budapest.
It changes a lot of things very fundamentally, and also
the margin by which Peter Magyar was able to crush
Victor Orbon, who was going for his fourth consecutive term.
After sixteen years in power, he now has a two
thirds majority Pettern Magyar. That means that he can legislate
very freely, with a free hand over Hungary. It also
means he can make changes to the constitution, which is
something that Victor Orbon enjoyed during his last term. So
it's really a significant victory. But also the margin is
very very relevant in terms of what he'll actually have
to do to turn the economy around. That gets a
little bit more complicated. I mean, he's inheriting some of
the same problems that brought Victor Orbond down a sagnet economy.
But he's vowed to change things, to turn things around
in the economy, to sort of cut out the corruption.
And that's been Berry. Chief Europe correspondent Oliver Krook reporting
from Buddhapest and stocks at Hungary are up two and
a half percent on the election results.
Well turning to politics at home now, Karen. Democratic Congressman
Eric Swalwell is suspending his campaign to be the next
governor of California. The decision follows a series of sexual
assault allegations that threw that campaign into turmoil and prompted
his backers to flee. In a post on social media,
Stallwell wrote, quote, I will fight the serious, false allegations
that have been made, but that's my fight, not a
campaign's end quote. The seven term congressman from the San
Francisco Bay Area had been polling among top Democrats to
succeed Gavin Newsom, whose bar from seeking reelection because of
term limits.
Well another news this morning. History was made in augusta
Nathan Rory and McElroy as the Masters Champion once again.
We want to get the details at Bloomberg's John stash Hour, John,
Good morning.
Good morning, Karen. It was the ninetieth Masters, and yes,
it ended as the eighty ninth did a year ago, and.
Here we go his year again. Rory is a rare
repeat winner at a custom at the three.
Jack Nicholas, Nick Faldow and Tiger was Master's radio to call.
McElroy led most of the way, did lose that lead
in the final round, but he regained it held off
a slew of challengers, including Scottie Scheffler, who came from
twelve shots behind to finish in second place, one shot
back of McElroy. Will hear from the winner of the
Green Jacket coming up in sports, John Stashdawa Bloomberg Radio.
Time Now for a look at some of the other
stories making news in New York and around the world.
And for there we're joined by Bloomberg's John Tucker.
John, Good morning, Yeah, Good morning, Karen, and Hello. Springtime
temperatures will significantly rise this week. At Bloomberg, metagralogist Craig
Allen has the very latest.
It could be as much as fifteen to thirty degrees
above average in the major cities along nine ninety five,
so for DC and suburbs, it may get close to
ninety tomorrow and into the nineties for Wednesday and Thursday.
For the New York City tri state region, eighties will
be common Tuesday through Thursday. A few inland spots may
touch ninety, but it will definitely be cooler along the
shore and at the beaches. And as for Boston, it
won't get that kind of heat, but seventies and eighties
are likely for many parts of New England.
Bloomberg mediaorromalogist Craig Allen. The search continues for the gunman
that targeted an employee at a New Jersey fast food
restaurant over the weekend. Gunfire erupted inside at Chick fil A,
killing one person injuring six others. It happened in Union Township.
The injured victims believed to be innocent bystanders. According to authorities,
the shooting was a targeted incident stemming from a drug
or a gang dispute. A mile Stone, New York City
mayor a Zora Mamdani in Queen's Sunday Mum Donnie celebrated
one hundred days in office, touting his accomplishments.
Since we took office, murders have hit record lows.
There has not been a murder.
On Staten Island in more than one hundred and eighty days.
Prime in our city is down.
Mayor Mom Donnie also announced the first location of a
city owned grocery store. It'll be opening Harlem before the
end of his first term. Global News twenty four hours
a day and whenever you want it with Bloomberg News. Now,
I'm John Tucker and this is Bloomberg Karen.
All right, John Tucker, thank you time now for the
Bloomberg Sports Update. Here's John stash Hour. John, Good morning again.
Good morning. Cam Roy McRoy admitted he won this Masters
with what he did in the first two rounds. He
was twelve under par through thirty six. Oh shot the
next thirty six at even par like Saturday yesterday, lost
the lead. At one point cam Young was on top
and later it was just An Rose was trying to
win the Masters at age forty five. But from the
seventh holl to the eighteenth Rory was bogie free and
with aiman corner birdies on twelve and thirteen he retook
the lead, one of Masters that he always expected to
be close.
TRD.
It's hard to win golf tournaments, especially around here, like
it's you know, you've had maybe a couple of runaway
winners over the years, but it always seems to be
a very tight finish at this golf course. So I
think it's the nature of the golf course. It's the
nature of Watson stick.
His sixth career major championships, second green jacket, and Roscotti
Schefler was going for the third of his career. He
played the last thirty six holes bogie three, but ended
up one shot behind. The losing streaks reached five for
both the Mets and the Yankees. The A's have had
a lot to do with that. They beat the Yanks
twice in the Bronx and then went to City Field
and swept the Mets. Three of their five straight wins
in New York were shutouts. It was one to Hing
Sunday and Nick Kertz home runoff Freddy Parolta thirty and
the only run of the The Mets have four of
their starters with a batting average under two hundred, and
the Yankees have five, including Ryan McMahon at one fourteen.
He made the final out of Tampa Bay and the
Yanks had the tiny and go ahead runners on base.
The Rays, with their first three games sweep with the
Yanks in five years, they won five to four. Red
Sox won in Saint Louis, Nationals won in Milwaukee. The
NBA regular season is over. The playoffs begins soon the
Stanley Cup Playoffs just after that. The only New York
hockey or hoop team in the playoffs the Knicks. They'll
face Atlanta in the first round with game one Saturday
night at the Garden. No playoffs for the Islanders due
to a late season slot. John stan Shaward Bloomberg Sports Kenry.
Think you.
Stay with us More from Bloomberg day Break coming up
after this.
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg day Break.
Good morning on Nathan Hager. More than six weeks of
war where Iran may be entering a new phase. President
Trump says a full naval blockade of the Strait of
Hormones will begin later this morning after the breakdown of
peace talks in Pakistan. But the President says he doesn't
care if the show of force brings Tehran back to
the negotiating table.
And they don't come back. I'm fine. Their military is
gone and their missiles are largely depleted.
I was President Trump on the tarmac in Miami last night.
Joining us this morning from Dubai is Bloomberg News Middle
East Managing editor Owner aunt Owner.
Good morning.
What is the risk that this blockade prolongs the war
even further?
Well, this blockade will certainly escalate the tensions in the region,
although in a limited way. The alternative was obviously a resumption,
a full resumption of the war. In its stead, US
President Donald Trump decided that if the ships carrying oil
from Arab states in the Persian Gulf cannot carry oil
to the rest of the world, then neither should the
ships from Iran. The risk here is that the naval blockade,
the full naval blockade, might result in a resumption of
hostilities between the US and Iran in the form of attacks.
We have seen Iranian officials overnight have been rejecting the
planted naval blockade, and not only that, they also issued
a somewhat odd statement responding to a threat that was
not this explicitly issued by the US, and they said,
if there is any attack on Iranian ports, either inside
the Persian Gulf to the east, to the east of
the Strait of Hormus or outside in the Sea of
Alman Then there would be they would be countering those
attacks with similar strikes on ports of other nations inside
the Persian Gulf, and that surely would bring the war
into a new different phase.
Does that imply the participation of Iranian proxy groups like
the Houthis?
That is another threat that was issued out of Iran. Now,
to be clear, there was no official announcement or statement
attached to it, as is usually the case with some
of these threats coming out of Iran, but we have
seen overnight that pressivice suggested that if the US goes
ahead with this planned naval blockade outside the Strait of Hormuz,
a similar situation might arise in Babel Mandeb for those
who may not be familiar with those names, that is
the strait that is just outside the Red Sea. That's
where most of the oil that couldn't reach global markets
through the Strait of Hormuz since the war began is
finding its way through Saudi Arabia's Red Coast. So yes, Iran,
at least not explicitly, but still did threaten to use
its proxies such as Houthies to bring the war to
widen the war and bring it to the Red Sea Coast,
which is where most of the remaining of all exports
are taking your from.
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