March 30, 2026: Iran Hits Oil Tanker in Kuwait, WSJ: Trump Willing to End War, More

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We are seeing dramatic swings in oil prices at this hour.

Shortly before 7pm Eastern, we learned that Iran struck a fully laden Kuwaiti oil tanker

in the Anchorage area of Dubai's port.

The state run Kuwait Petroleum Corporation reported damage to the hull of the vessel

and a fire on board.

And immediately, we saw both WTI crew and Brent jump 4%.

Then came a report from the Wall Street Journal saying President Trump is willing to end the

U.S. military campaign against Iran, even if the straight-of-hormous remains largely closed.

The journal reports in recent days, Trump and his aides assessed that a mission to open

the strait would push the conflict beyond his timeline of four to six weeks.

Trump reportedly decided the U.S. should achieve its main goals of hobbling Iran's navy

and its missile stocks, then wind down current hostilities while, at the same time, pressuring

Tehran diplomatically to resume the free flow of trade.

And then we saw WTI and Brent crewed each lower by 1%.

Bloomberg Intelligence Senior Commodity Strategist Mike McGlone says,

The worst of the surge in oil may be behind us.

If this continues, crude oil can be its own worst enemy.

When it spikes at this velocity, it usually ends up going lower and I'll end with one key example.

It seems like to me it's very similar to 2008.

Crudeau peaked at 147, and by then the year is down at 32.

By the time we get the midterms, I think that WTI crewed our future contracts more likely

to be closer to 50 than 100.

Mike McGlone from Bloomberg Intelligence.

A new poll today shows 65% of Americans fear the price of gasoline is headed still higher.

Here is Cliff Young, U.S. President of the polling firm Ipsos.

Typically foreign interventions don't affect domestic issues, but in this specific case,

obviously the price of oil is critical for everyone and for Americans, household budgets.

Most importantly is how much of my paying at the gas pump can I make ends meet, can I

afford things to make my family go?

That is Ipsos President Cliff Young speaking earlier to Bloomberg's balance of power.

Incidentally, as of Sunday, the average price of U.S. retail gasoline stood at $3.99

a gallon.

That's according to AAA.

Secretary of State Marco Rubio saying today the U.S. may need to reassess its relationship

with NATO after the Iran war is finished.

Rubio warned the current arrangement may not be sustainable, if allies expect U.S. protection,

but don't provide reciprocal support.

In an interview today with Al Jazeera, Rubio called NATO's alleged lack of support in

the Middle East conflict, very disappointing.

The NATO is just about us defending Europe of their attack, but them denying us basing

rights when we need them.

That's not a very good arrangement.

That's a hard one to stay engaged in and say this is good for the United States.

So all of them is going to have to be re-examined.

That is Secretary of State Marco Rubio speaking to Al Jazeera.

His remarks come as U.S. allies resist deeper involvement in the conflict.

Spain closed its airspace to American flights involved in its military operation in Iran.

The White House is urging members of Congress to cut their two-week recess short and return

to Washington to continue negotiating the partial shutdown, affecting the Department of

Homeland Security.

Now on Friday, President Trump signed an executive order to pay TSA agents after some airports

dealt with hours-long waits and agents quitting.

Here is White House Press Secretary Caroline Levitt.

The President just can't keep signing presidential memorandums and proclabations.

Every time Congress fails to do its job and every time Democrats are holding our entire

country hostage, picking and choosing which programs and agencies they want to fund.

The President has stepped in to do the right thing at this moment in time, but the President

is also encouraging Congress to come back to Washington to permanently fix this problem

and to fund and reopen the Department of Homeland Security entirely.

That is White House Press Secretary Caroline Levitt.

By the way, last Friday, the House did pass a short-term funding measure that would

fund DHS through May 22nd, and that bill was passed in response to another bill approved

by the Senate to fund DHS except for ICE and Border Patrol.

Those two agencies are currently funded through a separate appropriation.

Now the partial shutdown of DHS has surpassed the six-week mark.

Among the company's reporting earnings on Tuesday, after the close of trading, Nike.

We have a preview from Bloomberg's Charlie Pellet.

It's been a tough start to the year for Nike shares.

They are down more than 19 percent.

The big focus for investors will be on how CEO Elliott Hill's strategy continues to impact

the brand.

Investors will also be looking for signs of progress in Nike's struggling greater China

division.

The total fiscal third quarter revenue estimate for the quarter is 11.24 billion according

to the Bloomberg consensus with North American revenue scene coming in at 5 billion.

In New York, Charlie Pellet, Bloomberg Radio.

Two elite eight matchups in the NCAA women's tournament were decided tonight.

In the first case, Texas beat Michigan 7741, and then South Carolina defeated TCU 7852.

So now in the next round, the long horns will face off against UCLA, and South Carolina

will go up against Yukon in a rematch of last year's final.

The winners of these contests will go on to play each other in the national championship

game on Sunday.

And that is news when you want it with Bloomberg News Now.

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