President Donald Trump said Iran is ready to make a deal to end the war but the US wants better terms, signaling no letup in a conflict that’s brought shipping in the strategic Strait of Hormuz to a near standstill and upended energy markets.

Separately, Iranian Foreign Minister Abbas Araghchi said the Islamic Republic is open to “any regional initiative that leads to a fair end to the war,” according to an interview published by the UK-based Al-Araby Al-Jadeed news website on Sunday. He added that no specific proposal has yet been presented.

On today's show, Bloomberg This Weekend hosts David Gura and Christina Ruffini speak with:

- Philip Crowther, Associated Press International Correspondent, Joumanna Bercetche, Bloomberg Anchor on "Horizons Middle East and Africa," and Bloomberg News Washington Deputy Bureau Chief Laura Davidson on President Trump's comments that the United States needs better terms to reach a deal to end the war with Iran.

- EPA Administrator Lee Zeldin on the war in Iran and the ever changing energy markets.

- United States Representatives Adam Smith (D-WA) and Michael Lawler (R-NY) to discuss what their opinions are on President Trump's actions in Iran and the Middle East.

- Co-Host of the "Bloomberg Business of Sports" Podcast, Vanessa Perdomo, on the upcoming NCAA Tournament and how the tournament affects the sports gambling market.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

See omnystudio.com/listener for privacy information.

The US struck military sites on Kharg Island, from which Iran exports almost all its oil, for the first time overnight, upping the ante in a Middle East war that’s raged for more than two weeks and shows little sign of easing.

President Donald Trump said military facilities on the Persian Gulf island had been “obliterated,” adding that he chose not to hit oil infrastructure “for reasons of decency.” He threatened to do just that should Iran “do anything to interfere with the Free and Safe Passage of Ships through the Strait of Hormuz.”

On today's show, Bloomberg This Weekend hosts David Gura and Christina Ruffini speak with:

- Philip Crowther, Associated Press International Correspondent, Dan Williams, Bloomberg News Jerusalem Reporter, and Bloomberg White House Reporter Jeff Mason on the war's impact on the economy and oil production.

- Former US Diplomat to Syria, Colonel Joel Rayburn, on the United States' military operation in Iran and how it compared to former administrations.

- Trane Technologies CEO Dave Regnery, on the company's apprenticeship program and skills-based hiring.

Plus, David, Christina, and Lisa Mateo play Pointed: The News Quiz for Risk Takers.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

See omnystudio.com/listener for privacy information.

Iran picked a new supreme leader and kept up attacks on the ninth day of the war in the Middle East, hitting a water plant in Bahrain, while Israel struck fuel depots in Tehran and threatened the Islamic Republic’s power grid. Tehran didn’t disclose the identity of the new leader.

The chaos that has gripped the oil market looks set to deepen, with more production getting cut as the war in Iran effectively shuts the Strait of Hormuz, and the US considers widening its range of targets in the country.

On today's show, Bloomberg This Weekend hosts David Gura and Christina Ruffini speak with:

- Daniel Yergin, Vice Chairman at S&P Global, on oil prices nearing a $100-a-barrel threshold.

- Former US Ambassador to Israel Tom Nides, on the relationship between President Trump and Prime Minister Netanyahu, and Israel's role in the Iran conflict.

- Republican Senator Mike Rounds of South Dakota, on why the Trump Administration may have chosen to pursue a war with Iran.

- Team USA Olympic Bobsledders Kaillie Humphries and Elana Meyers Taylor, on what it means to be both a mother and a gold medalist.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

See omnystudio.com/listener for privacy information.