Oil, Gas Surge as Trump Orders Hormuz Blockade & Hungary's Orbán Ousted| Daybreak Europe 4/13/2026
Original Report
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And...
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. On today's show, oil and gas surge after President Trump ordered a blockade of the Strait of Hormuz after the breakdown of talks with Iran at the weekend. The US intends to stop maritime traffic entering and leaving Iranian ports from 10am NY, 3pm London time on Monday. Iran says it "won't allow" the blockade to go ahead. The Hungarian forint surged to a four-year high following a landslide election victory for the opposition. Péter Magyar's win ends Viktor Orbán's 16 years in power. Analysts expect it to unblock Hungary's access to EU financing and low-interest loans, providing stimulus for the Hungarian economy. (Source: Bloomberg)
Glass House Analysis
Energy prices affect virtually every aspect of daily life—from commuting costs to heating bills to the price of groceries (which must be transported). For working families, energy represents one of the most volatile and impactful line items in their budgets. Energy policy decisions ripple through the economy, affecting everything from manufacturing competitiveness to household financial stress.
The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.
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How Three Key Ships Moved Through Hormuz Hours Ahead of US Blockade
Here's how news of a US Navy blockade affected the movement of three ships in the Strait of Hormuz. Blloomberg's David Ingles reports. (Source: Bloomberg)