Oil Declines as US and Iran Explore Agreement to Reopen Hormuz

Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from Brussels, 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. Oil declined as US and Iranian negotiators explored a phased deal that would see Tehran reopen the Strait of Hormuz. A global bond selloff that drove yields to multi-decade highs stabilized in Asia as oil snapped a two-day surge, offering investors some respite after a bruising stretch for debt markets. And Donald Trump’s summit with China’s Xi Jinping has been heavy on pageantry and platitudes but light on substantive announcements, with the events shadowed by the US president’s preoccupation with construction projects and personal grievances. (Source: Bloomberg)