Bloomberg Daybreak: Europe Edition Gulf States Weigh Joining War, Iran Denies Trump Talks, EU-Australia Trade Deal
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Mar 24, 2026 Paul Wallace, Bloomberg managing editor for Middle East economics and government, offers sharp regional analysis. He discusses the risk of Gulf states joining hostilities with Iran. He explains disputed claims about talks with Iran and how indirect negotiations are being handled. He outlines the economic shockwaves—energy, GDP and trade impacts—from the Iran conflict and what joining the fighting would mean.
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Gulf States Considering Direct Involvement Raises Oil Risk
- Oil prices rose on reports that Saudi Arabia and the UAE may join attacks on Iran, reversing the prior day's plunge when strikes were paused.
- The Wall Street Journal reported Saudi allowed US use of an air base and Crown Prince Mohammed bin Salman is near a decision to participate.
Allies Pressured US To Pause Strikes To Avert Regional Disaster
- Donald Trump paused strikes on Iran's energy infrastructure after private warnings from US allies and Gulf partners about regional catastrophe.
- Bloomberg says calming markets and reassuring Middle East allies were key factors in the president's decision to delay action.
Trump's Talk Claims Clash With Iran's Public Denials
- President Trump framed a pause as progress toward talks with Tehran, but Iranian officials publicly denied direct negotiations.
- Iran's parliament speaker called Trump's claims 'fake news' aimed at manipulating financial and oil markets.