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US Economy: Jobless Claims Decline Slightly, Trade Gap Narrows

Applications for US unemployment benefits edged down last week as initial claims decreased by 1,000 to 213,000 in the week ended March 7. Meanwhile, the US trade deficit narrowed in January as exports increased, with the gap in goods and services trade shrinking more than 25% from the prior month to $54.5 billion. Michael McKee breaks down the data on Bloomberg Television.

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Bloomberg

Iran Steps Up Attacks On Tankers & Facilities As Oil Surges

Oman's key oil export terminal was evacuated and two crude tankers were hit in Iraqi waters, as risks to global energy supply from the Middle East war deepened. Ships were ordered to leave the port of Mina Al Fahal in Oman as a precautionary measure, according to people who directly received a notice from a port agent. The attacks on the vessels off the coast of Iraq also prompted the nation's oil terminals to suspend operations. he latest developments point to an increase in retaliatory attacks from Iran, adding to pessimism that the war will persist for longer. Our EMEA News Director Will Kennedy joined Stephen Carroll and Caroline Hepker on Bloomberg Radio to discuss.

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Bloomberg

Dubai Drone Incidents Add to Regional Flight Disruptions

Dubai International Airport briefly halted operations on Wednesday after drones smashed down at the facility, resulting in four injuries at the world's busiest international hub. The widening war with Iran continues to disrupt travel with more than 46,000 flight cancellations across the region since the conflict began on Feb. 28. Bloomberg's Leen Al-Rashdan reports.

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Bloomberg

AlHasan: Iran Waging War of Economic Attrition

Iran's strikes on Gulf nations continued even as they laid out demands for a truce. Iranian President Masoud Pezeshkian said the only way to end the war is "recognizing Iran's legitimate rights, payment of reparations, and firm int'l guarantees against future aggression."  Hasan AlHasan, Senior Fellow for Middle East Policy at IISS spoke to Bloomberg's Jennifer Zabasajja on Horizons Middle East and Africa on the likelihood of a ceasefire.

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