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

On today's podcast:

(1) Oil dropped from its highest close since July 2022, as the leaders of the US and Israel sought to reassure investors rattled by damage to major Persian Gulf energy facilities.

(2) Iran’s latest attack on Qatar, which severely damaged the world’s largest liquefied natural gas export facility, will cost the country’s state energy company about $20 billion of lost revenue.

(3) The European Union is bracing for a protracted energy price shock after Iran crippled a vital Qatar gas plant, raising the prospect of a years-long supply crunch.

(4) European Central Bank policymakers would be ready to raise interest rates as soon as their next meeting should fallout from the war in Iran push inflation too far above target, according to people familiar with the situation.

(5) The Bank of England said it “stands ready to act” against a surge in inflation triggered by war in the Middle East, prompting traders to ramp up bets on an interest-rate hike as soon as next month.

Podcast Conversation: Traders Overwhelmed by Iran News Are Turning to AI for Help