Iran Continues Attacks; Trump Delays Xi Summit | Bloomberg Daybreak: US Edition

Bloomberg Audio Studios podcasts radio news. — Good morning. I'm Karen Moscow — And I'm John Tucker. Here are the stories we're following today. — Well, John, the rise in oil comes as Iran steps up attacks on energy infrastructure across the Middle East. Operations were suspended at the Sha natural gas field in the United Arab Emirates after a drone strike while an Iraqi oil field and key Amirati port were also targeted by Iranian drones and missiles. Begin more with Bloomberg Middle East managing editor owner Aunt.

The single most important thing about this attack is that it was the first time Iran successfully attacked an upstream asset in the UAE. An upstream asset is an energy facility that produces oil or gas. That's why yesterday's or this morning's attack on the Shah gas fields near Abu Dhabi's border with Saudi Arabia was especially important and it is the second significant attack targeting a gas facility in the Middle East.

And Bloomer's owner Oz says these strikes further hamper the outlook for global energy supplies as the war enters its third week. And Karen, oil has risen more than 40% since the war began. There's been a near complete halt of shipping through the straight of Hormuz. As heard right here on Bloomberg radio, President Trump reiterated his appeals for help from other nations to secure the strait.

We strongly encourage other nations whose economies depend on the strait far more than ours. You know, we get less than 1% of our oil from the straight and uh some countries get much more. Japan gets 95%, China gets 90%, many of the Europeans get quite a quite a bit, South Korea gets 35%. So, we want them to come and help us with the strait.