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Your Evening Briefing

Your Evening Briefing

(Bloomberg) --

Members of Congress warned President Donald Trump against a military strike on Iran tied to the attack on Saudi Arabia’s oil facilities. Over the weekend, Secretary of State Mike Pompeo quickly blamed Iran without offering evidence and Trump issued an action-film warning. Iran denied a role, calling the allegations Washington’s “maximum-lies policy.” As Timothy O’Brien writes in Bloomberg Opinion, “not everyone is telling the truth here.” As for Capitol Hill, where Saudi Arabia has fewer friends since the murder and dismemberment of journalist Jamal Khashoggi, Hawaii Senator Brian Schatz said that, in this case, “the U.S. military is not authorized to retaliate on behalf of another country.” 

Here are today’s top stories

Oil predictably surged after the explosions knocked out a portion of Saudi Arabia’s production capacity. Mark Gongloff writes in Bloomberg Opinion that this wasn’t the way OPEC wanted to boost prices.

If you live in America, expect those prices to rise later this week.

With billions of dollars worth of weapons purchased from U.S. defense contractors, why is Saudi Arabia having such a hard time defending itself?

A key U.S. borrowing market saw a massive surge Monday, a warning sign that the Fed is having trouble controlling short-term interest rates.

JPMorgan’s precious metals trading desk was a criminal enterprise operating inside the bank for almost a decade, U.S. prosecutors alleged.

The biggest backers of SoftBank’s Vision Fund are reconsidering how much to commit to its next investment vehicle as an oversized bet on WeWork sours.

What’s Joe Weisenthal thinking about? The Bloomberg news director says to keep an eye on longer-dated oil futures as we learn more about what happened to Saudi Arabia’s oil facilities over the weekend (and who is responsible).

What you’ll need to know tomorrow

What you’ll want to read tonight in Bloomberg Pursuits

All whiskey is made from grain, but in the U.S., we tend to reserve our wheat supply for bread and breakfast cereal. American whiskey sales in 2018 rose 6.6%, or $224 million, to $3.6 billion worldwide. Wheat whiskey has accounted for only a tiny fraction of that figure. But that could be changing.

Your Evening Briefing

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