Trump Takes Hard Line as Hormuz Tensions Mark New Normal

Watch on YouTube ↗  |  August 19, 2026 at 12:45  |  3:13  |  Bloomberg Markets
Speakers
Jeff Mason — White House Correspondent
Jake Sullivan — Former US National Security Advisor

Summary

The video covers the US-Iran standoff after Trump denied ongoing talks and an MOU expired, leaving the Strait of Hormuz in limbo. Jake Sullivan says regional countries may pursue their own deals with Iran, while Jeff Mason discusses whether $90 oil is a new normal. Mason also sees the US-Canada tariff deadline likely passing without a breakthrough, with tariffs possibly taking effect overnight.

  • Trump says there are no ongoing talks with Iran
  • The US-Iran MOU has expired and Hormuz control is in limbo
  • Jake Sullivan expects regional countries to seek their own Iran deals
  • Jeff Mason says $90 oil may be the new normal if the stalemate continues
  • The US-Canada tariff deadline is approaching with no sign of progress
  • A White House official did not expect a major tariff breakthrough
Ideas
Jeff Mason White House Correspondent 1:46
Oil at $90 may be new normal
Jeff Mason argues that with no US-Iran talks and an effective stalemate over the Strait of Hormuz, oil at $90 a barrel could very well become the new normal if the stalemate continues; he sees that as the current trajectory.
WTI MED
Jeff Mason White House Correspondent 2:14
Canada tariff event risk appears unresolved
The US-Canada tariff deadline is barreling toward midnight with no sign of progress; a White House official did not expect a major breakthrough, and tariffs could take effect first thing tomorrow, making Canada a live event-risk watch.
EWC MED
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This Bloomberg Markets video, published August 19, 2026, features Jeff Mason discussing WTI, EWC. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jeff Mason  · Tickers: WTI, EWC