Episode summary
Trump Reportedly Weighs War Exit; US Fuel Prices Soar | Bloomberg Daybreak: US Edition
Bloomberg Daybreak: US Edition
· · 15 min
Summary
The dominant story is the war with Iran and whether President Trump is preparing an exit even as fighting escalates. The host says the Wall Street Journal reported Trump is willing to wind down the U.S. campaign even if the Strait of Hormuz stays largely closed, while White House press secretary Caroline Levit insisted the president has made no additional decisions. Bloomberg’s reporting from Dubai and Jerusalem added that an Iranian drone struck a fully loaded Kuwaiti oil tanker near Dubai, reinforcing concerns that Iran is targeting energy infrastructure and shipping lanes.
Analysts on the program argued that allowing Iran to keep de facto control over Hormuz would be a strategic failure for the U.S., even if Trump claims the war has met its objectives. One analyst said the administration may be using contradictory signals as tactical smoke screens, and noted the U.S. originally framed the war around destroying Iran’s nuclear, missile and naval capabilities rather than reopening the strait. The guest in Jerusalem said Israel appears prepared to keep operating for weeks, but that the U.S. will determine when the war ends.
The economic spillover is already showing up in gasoline, with the national average above $4 a gallon for the first time since August 2022. The Fed chair said it is too early to know the full impact of the energy shock and that policymakers can wait and see.
Key takeaways
- The host said the Wall Street Journal reported Trump may end the U.S. campaign even if Hormuz remains effectively closed, which would be a major strategic concession.
- An analyst argued that losing control of the Strait of Hormuz would be a “strategic disaster” for the U.S. and could hand Iran billions of dollars.
- Gasoline prices topped $4 a gallon nationwide, and an energy consultant warned oil could rise to $150, $200 or even higher if the war continues.
- The guest in Jerusalem said the U.S. originally framed its war aims around Iran’s nuclear, missile and navy capabilities, not reopening Hormuz.
- The Fed chair said the energy shock is still too early to assess and that the central bank can wait and see.
Notable quotes
“It would be very difficult to argue that it's not a strategic disaster for um for the US”
“The prices will go through the roof. It doesn't matter what President Trump”
“the nationwide average retail price for regular unled roast almost 402, the highest since August of 2022”
“we do think our policy is in a good place for us to wait and see”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. — Good morning. I'm Nathan Hager. And I'm Alexis Christopherus. Here are the stories we're following today.
Alexis, the first full month of the war with Iran is coming to a close and President Trump is ramping up threats even as he considers his options. The Wall Street Journal is reporting the president has told aids he is willing to end the US campaign against Thrron even if the straight of Hormuz remains largely closed. The report says the concern is that a mission to pry open the choke point could extend the conflict beyond the president's four to six week timeline.
White House press secretary Caroline Levit says President Trump still wants a deal with Iran. The
President is focused on achieving the objectives of Operation Epic Fury uh with respect to forces that are on the ground in the Middle East. It's the job of the Pentagon to create maximum op optionality for the commander-in-chief. It does not mean the president has made any additional decisions.
Press Secretary Caroline Levit at the White House and we get more from Bloomberg's Jumanna Bureti in Dubai.
To be clear, this has not come from President Trump himself. This is reporting in the Wall Street Journal. And actually the latest from President Trump is a true social post that he put up yesterday suggesting that they are in discussions with a more quote unquote reasonable regime in Iran that a deal will be probably reached shortly after which and then he says if this rate is not immediately open for business we will conclude our stay in Iran by blowing up and obliterating power plants oil wells and K island.
Bloomberg's Jamanna Berseti reports. In the meantime, an Iranian drone struck a fully loaded Kuwaiti oil tanker docked in Dubai early this morning.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- iran war escalation
- trump iran diplomacy
- oil and gasoline prices
- unilever mccormick divestment
- consumer inflation
Companies and tickers mentioned
- UL
- MKC
- Wall Street Journal
- Unilever Plc
- McCormick & Co.
- American Automobile Association
- Bloomberg
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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