US President Donald Trump speaks to the media before boarding Air Force One at Joint Base Andrews, Maryland on March 13, 2026.
Nathan Howard | Getty Images
Hello, this is Leonie Kidd writing to you from London. Welcome to another edition of CNBC’s Daily Open.
Lots of developments to digest from the war in the Middle East. President Donald Trump is pressuring nations to support the re-opening of the Strait of Hormuz, while again threatening to target Iran’s Kharg Island — this time targeting its oil infrastructure.
It marks another weekend of escalating attacks in the region, but diplomatic channels are as choked as the Strait of Hormuz.
Here’s what you need to know today
According to an interview with the FT on Sunday, Trump says the NATO alliance faces a “very bad” fate if America’s allies do not answer his call to send military assets to help reopen the Strait of Hormuz. The US president said he may delay a meeting with Chinese President Xi Jinping as he urges Beijing to unblock the Strait of Hormuz.
Over the weekend, Trump specifically called on China, France, the UK, South Korea and Japan to participate in a joint effort to support safe passage for tankers through the strait. So far, there has been a mixed response to his appeal.
Kharg Island, Iran’s critical oil export hub, is now in the president’s sights, with Trump threatening to attack the island’s oil infrastructure after striking military targets on Friday. That certainly didn’t calm oil markets, with US crude futures once again topping $100 a barrel. On Monday, the US president told reporters on Air Force One that oil prices “will come down once it’s all over.”
It was a mixed trading session for Asian markets, while European and US futures indicated a flat or slightly higher open. Goldman Sachs estimates that a surge in energy prices caused by the war in Iran could shave about 0.3% from global GDP over the next year, while boosting headline inflation by roughly 0.5% to 0.6%.
– Leonie Kidd
And finally…
‘One Battle After Another’ wins Best Picture at Oscars
Darkly comic thriller “One Battle After Another” won best picture at the Academy Awards, picking up six trophies Sunday night as Hollywood handed out its top film honors to unconventional stories.
The offbeat tale of political resistance trades triumphantly with the vampire tale “Sinners,” setting up a fight to the end at the Dolby Theater.
– CNBC.com
(tags to translate)World Markets
