Trump Expands Iran War, Conflict Drives Oil Spike, Dubai’s Worst Nightmare

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

On today's podcast:

(1) President Donald Trump said the bombing campaign against Iran will continue until its objectives are achieved, calling on the nation’s leaders to capitulate as a report indicated at least one top official in Tehran sought to resume nuclear talks with the US.

(2) Iran's Leader Ayatollah Khamenei’s demise has potentially seismic consequences for the Middle East and beyond. While it marks the end of an era for Iranians — the majority have only known one leader — for now, as the fighting continues in the Persian Gulf, the Islamic Republic as a system of rule continues to function.

(3) Europe scrambles to react, with the UK allowing the US to make use of British military bases for the specific purpose of destroying Iranian missile depots.

(4) The oil market’s nightmare scenario came true this weekend. European natural gas prices could more than double if shipping through the Strait of Hormuz is halted for one month, according to Goldman Sachs.

(5) Travel chaos extended through the Middle East and beyond, sending airline stocks sharply lower on Monday, as carriers across the Persian Gulf extended blanket flight suspensions, causing major disruptions at some of the world’s busiest airports.

(6) Dubai’s nightmare scenario unfolded Saturday: Defense systems repelling Iranian missiles and drones over its famous skyscrapers, explosions and plumes of black smoke rising out of the city-state’s most celebrated neighborhood.

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