U.S. President Donald Trump speaks to the media before boarding Air Force One at Joint Base Andrews, Maryland, March 13, 2026.
Nathan Howard | Getty Images
Hello, my name is Leonie Kidd and I’m from London. Welcome to another edition of CNBC’s Daily Open.
There are many developments to digest from the Middle East wars. President Donald Trump is pressuring countries to support reopening the Strait of Hormuz, while also threatening to target Iran’s Kharg Island again, this time for its oil infrastructure.
Diplomatic routes remain blocked, as does the Strait of Hormuz itself, but another weekend of escalating attacks in the region begins.
What you need to know today
Trump said the NATO alliance faces a “very bad” future if America’s allies do not respond to his call to send military assets to help reopen the Strait of Hormuz, according to an interview with the FT on Sunday. The president also said he may postpone his meeting with Chinese President Xi Jinping as he seeks China’s cooperation in lifting the blockade of the Strait of Hormuz.
Over the weekend, President Trump called on China, France, the United Kingdom, South Korea and Japan, among others, to join a joint effort to help tankers safely transit the strait. So far, the response to his request has been mixed.
Iran’s key oil export hub, Kharg Island, is now within sight of the president, who has threatened to attack the island’s oil infrastructure after striking military targets on Friday. US crude oil futures prices have once again exceeded $100 per barrel, and this is definitely not calming the oil market. On Monday, the U.S. president told reporters on Air Force One that oil prices “will plummet when this is over.”
Asian markets traded mixedly, but futures in Europe and the United States suggested they were likely to be flat or slightly higher. Goldman Sachs estimates that the soaring energy prices caused by the Iran war could cause global GDP to decline by about 0.3% over the next year, and the headline inflation rate to rise by about 0.5 to 0.6%.
— Leonie Kidd
And finally…
“One Battle After Another” wins Best Picture at Oscar Awards
The darkly comic thriller “One Battle After Another” won the Academy Award for Best Picture, taking home six trophies on Sunday night as Hollywood bestowed top film honors on an unconventional story.
A quirky tale of political resistance triumphs in the vampire tale “Sinners,” which fights to the end at the Dolby Theater.
— CNBC.com
