Cryptowar

Iran's Supreme Leader says its enriched uranium must stay in the country, Reuters is reporting this morning. Those headlines sent oil prices higher. On Wednesday President Donald Trump said the US was in the "final stages" with Iranian diplomacy. Bloomberg's Annmarie Hordern reports.

The Republican-led US Senate signaled rising opposition to continuing the Iran war in a procedural vote Tuesday. Louisiana Senator Bill Cassidy, whose re-election bid President Donald Trump thwarted in a Republican primary Saturday, joined three other GOP senators voting to clear the hurdle and move toward a final vote on a resolution to cease hostilities. Kate Ackley of Bloomberg Government has more.

"We may have to give (Iran) another big hit," President Donald Trump says while speaking with reporters at the White House.

Treasury Secretary Scott Bessent pressed US allies to join the US in enforcing sanctions on Iran and other malicious actors, saying, "Crushing the threat of terrorism compels all of you to step up and join us in rooting out the financing that sustains it." Bessent addressed the No Money for Terror conference on Tuesday, part of the meeting of the Group of Seven Nations in Paris.

US President Donald Trump said he called off a new bombardment of Iran planned for Tuesday after Persian Gulf allies wanted more time to pursue diplomacy. Tyler Kendall reports on Bloomberg Television.

Goldman Sachs International co-CEOs Anthony Gutman and Kunal Shah discuss the outlook for Europe's capital markets, risks facing the global economy and the race to build out artificial intelligence infrastructure. They speak on Bloomberg Television.

OECD Secretary General Mathias Cormann discusses the impact of the conflict in the Middle East on the global economy, saying the Iran war is putting "downward pressure on growth and upward pressure on inflation." He speaks to Bloomberg's Oliver Crook on the sidelines of a Group of Seven meeting in Paris.

Elevated bond yields dominated the Group of Seven meeting in Paris as finance ministers discussed how oil-fueled inflation risks overshadowing world economic prospects. The talks, which were meant to dwell on global imbalances, took place against the backdrop of US President Donald Trump's extended standoff with Iran which is keeping the Strait of Hormuz shut. Bloomberg's Oliver Crook reports.

Francisco Blanch, head of commodities and derivatives research at Bank of America Securities, discusses the "pretty large" deficit in the global oil market and says the US will see higher gas prices and potential "availability issues" during the summer driving season.

US Treasury Secretary Scott Bessent, speaking ahead of a meeting with other Group of Seven finance ministers in Paris, called on G-7 nations and other allies to increase sanctions on Iran in an effort to "crack down on the illicit finance that is fueling the Iranian war machine."