Trump Reportedly Weighs War Exit; US Fuel Prices Soar

Tensions surrounding the Iran war and its economic repercussions dominate this Bloomberg Daybreak episode. President Trump is reportedly considering ending the US campaign, even if the Strait of Hormuz remains closed, a move that worries Middle East partners. Bloomberg's Jumana Berseti reports an Iranian drone struck a Kuwaiti oil tanker in Dubai, escalating concerns. Managing Editor Paul Wallace suggests that US losing control of the Strait of Hormuz would be a strategic disaster. Rising gas prices, potentially reaching $4 a gallon, and a UN study projecting a $200 billion economic loss across the Middle East underscore the conflict's widespread impact. Despite these concerns, Fed Chair Jay Powell believes the central bank can wait out the crisis.