Financial Times Markets examines whether Donald Trump can negotiate with Iran as tensions persist in the Strait of Hormuz. Middle East editor Andrew England joins Katie Martin and Rob Armstrong to analyze the president's stalled diplomatic efforts and their impact on global markets.

The discussion centers on Trump's apparent inability to conclude his own war with Iran, leaving investors to navigate uncertainty around oil shipments and regional stability. The Strait remains a critical chokepoint for global energy supplies, making any escalation a direct concern for commodity markets and shipping insurers.

Beyond geopolitics, the show also covers positions on English football and the Great Brotation. However, the Iran question dominates given its potential to disrupt energy flows and trigger market volatility across multiple sectors.

With oil prices sensitive to Middle East developments and the White House's mixed messaging on Iran policy, market participants face renewed risk assessment challenges. The lack of diplomatic breakthrough keeps energy traders particularly cautious.