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 Good morning. The US war with Iran intensifies, with Donald Trump issuing an ultimatum on the Strait of Hormuz. And two pilots die in a collision at New York's LaGuardia Airport. Listen to the day's top stories. — Alexandria Arnold
Tensions between the US and Iran escalated further over the weekend, with Donald Trump giving Iran a two-day deadline from Saturday evening to reopen the Strait of Hormuz or have its power plants bombed. Iran said that if its power facilities were attacked, it would close the straight "completely," state TV reported. Check out our live blog for the latest updates.  Markets tumbled across the board. Oil climbed, with Brent rising above $113 a barrel, while gold wiped out this year's gains. Selloffs in stocks and bonds intensified. More than 40 energy assets across nine countries in the Middle East have been "severely or very severely" damaged by the war, the International Energy Agency said. Its director compared the current disruptions to the oil crises of the 1970s and the 2022 natural gas crisis "all put together." Goldman raised its oil price forecasts and now expects Brent to average $85 a barrel this year.   In the US, Trump is directing ICE agents to airports, where "they will do Security like no one has ever seen before." The goal is to help ease long security lines, triggered by TSA agents—who haven't been paid in several weeks—calling in sick. Separately, Markwayne Mullin cleared a committee vote toward confirmation as secretary for the Department of Homeland Security. An Air Canada Express plane with 76 people aboard collided with a fire truck shortly after landing at New York's LaGuardia Airport, the latest in a series of incidents that have put aviation safety in the spotlight. Two pilots were confirmed dead, the Port Authority said. LGA will be closed until at least 2 p.m. Deep Dive: Cuba Prepares Photographer: Yamil Lage/AFP A senior Cuban official told NBC the country is preparing for a possible military assault as Trump increases economic pressure on the government in Havana and suggested it could be the next US target after Venezuela and Iran.
The Big Take John Ternus. Photographer: Adam Gray/Bloomberg Apple CEO Tim Cook doesn't want to talk about retirement yet, but John Ternus, senior vice president for hardware engineering, is emerging as his most likely successor. OpinionKharg Island isn't the only spigot in Iran's vast oil network, Javier Blas writes. To truly choke Tehran's petrodollar lifeline, Trump would have to seize not just Kharg, but multiple terminals—all at once. More Opinions Play Alphadots!Our daily word puzzle with a plot twist.  Before You Go Source: Capital Pictures/Alamy/https://www.alamy.com Project Hail Mary topped the US and Canadian box office this weekend with an $80.5 million debut, the biggest opening this year. It's also the strongest debut for an Amazon title since its $8.5 billion deal to buy MGM, surpassing Creed III. A Couple More Bloomberg House arrives in Miami at the Formula One Grand Prix. Set against one of the world's most electrifying sporting events, we bring together business, investment, real-time data and Bloomberg journalism to fuel forward-looking discussions, as well as exclusive networking with global leaders. Register here. More From BloombergEnjoying Morning Briefing Americas? Get more news and analysis with our regional editions for Asia and Europe. Check out these newsletters, too:
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