The US signaled it would stick with a naval blockade of Iranian ports as it tries to force Tehran back to the negotiating table. Trump told aides to prepare for an extended blockade of the Strait of Hormuz, the WSJ reported, sending oil prices higher and prompting one leading analyst to warn that Brent crude may hit $125 a barrel. Meanwhile, the UBS Group Chief Executive Officer, Sergio Ermotti, said that financial markets are at risk of over-optimism regarding the Iran conflict. Today's guests: