The US and Iran reached an interim peace agreement to reopen the Strait of Hormuz and move further toward ending a 15-week war that’s wrought chaos across the Middle East and reverberated through the global economy.
The development caused equities and bonds to jump at the start of the week, while oil and natural gas prices — which soared with the strait’s closure — slumped.
US President Donald Trump, under pressure as rising fuel costs hit him and his Republican Party ahead of midterm elections in November, hailed a “great deal that will bring peace and security to the whole region.” He had pushed for it to be announced on Sunday, his 80th birthday. The agreement was already signed electronically by Trump, Vice President JD Vance, and Iranian Parliament Speaker Mohammad Bagher Ghalibaf.
Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:
Bloomberg Washington Correspondent Tyler Kendall.
McCain Institute Executive Director Evelyn Farkas.
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
Rapidan Energy Group Founder Bob McNally.
Bloomberg News Senior Editor for Technology and Strategic Industries Michael Shepard.
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