Your morning briefing.

All the news you need to start your day.

On today's podcast:

(1) Oil fluctuated after the Wall Street Journal reported that US President Donald Trump told aides he’s willing to end the military campaign in Iran even if the vital Strait of Hormuz remains largely closed.

(2) An Iranian drone hit a fully laden Kuwaiti oil tanker off Dubai early on Tuesday in one of the most significant attacks on a vessel in a month of war, pushing oil prices higher and heightening tension around the vital Strait of Hormuz.

(3) Iran is pushing the Houthis to prepare for a renewed campaign against Red Sea shipping, contingent upon any further escalation by the US in its war on the Islamic Republic, according to European officials familiar with the matter.

(4) Secretary of State Marco Rubio said the US may need to reassess its relationship with NATO after the Iran war is finished, calling the military alliance’s alleged lack of support during the Middle East conflict “very disappointing.”

(5) China’s factory activity expanded for the first time this year despite higher energy prices and disruptions caused by the escalating conflict in the Middle East.

(6) UK shoppers should brace for a wave of price increases, the retail industry warned as a survey taken immediately after the outbreak of the US-Iran war found higher energy costs had yet to filter through to household budgets.

(7) Russia’s main security agency is expanding its sweeping surveillance powers, deepening the state’s reach into economic and social life to suppress any risk of dissent to President Vladimir Putin.

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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) President Donald Trump said that Iran “gave” the US most of the 15 demands it issued to Tehran to end the war, even as it remains unclear whether either side is negotiating.

(2) Attacks in the Middle East conflict extended into a fifth week Sunday, with Israel striking Tehran and Saudi Arabia intercepting almost a dozen drones, a day after Yemen-based Houthi militants entered the war.

(3) Oil advanced as Iran-backed Houthi militants in Yemen entered the Middle East war and more US troops arrived in the region, raising fears the widening conflict will cause further chaos for energy markets.

(4) UK Chancellor of the Exchequer Rachel Reeves will urge Group of Seven partners to boost domestic energy supplies and warn the recent surge in oil and gas prices is playing into Vladimir Putin’s hands.

(5) French authorities detained two new suspects in connection with a foiled bombing near the Bank of America office in Paris, which officials have said is likely linked to the conflict in the Middle East.

(6) Once a global hub for entry-level jobs, London is now the epicenter of a growing youth joblessness crisis that is threatening to blight the futures of hundreds of thousands of people and fuel a backlash against Prime Minister Keir Starmer’s Labour government in key municipal elections in just over a month.

Podcast Conversation: America Is Depleting a Bigger Weapon Than Missiles: Max Hastings

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Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

• In the US – a look ahead to the March jobs report in the U.S and a focus on 3 stocks for the week ahead.
• In the UK – a look ahead to the upcoming South Africa Investment Conference.
• In Asia – a look ahead to South Korea shareholder meetings.

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