特朗普与丹麦达成格陵兰安全协议，沙特输油管道遇袭致柴油创纪录

DAVID: COMING UP ON "BLOOMBERG THIS WEEKEND," BREAK. GEMINI JOINS OPENAI, META, AND GOOGLE EXPOSING ARTIFICIAL INTELLIGENCE HACKS.

WE SHOULD GO AS FAST AS WE CAN, IRRESPECTIVE OF ANYONE ELSE. CHRISTINA: PLUS, AN AGREEMENT OF GREENLAND.

IT IS A VICTORY FOR DENMARK BECAUSE IT PROBABLY MEANS HE IS GOING TO STOP THREATENING TO POTENTIALLY MILITARILY INVADE GREENLAND. CHRISTINA: BUT IT MAY NOT BE A DONE DEAL. WE WILL SPEAK TO AN INVESTOR. DAVID: AND SEARCHING FOR COMMON GROUND. UTAH'S REPUBLICAN GOVERNOR JOINS US LIVE AS VOTING GETS UNDERWAY. CHRISTINA: HAPPY SATURDAY. WELCOME TO "BLOOMBERG THIS WEEKEND." I'M CHRISTINA RUFFINI. DAVID: I'M DAVID GURA, ALONGSIDE LISA MATEO.

WELCOME TO OUR LISTENERS AND VIEWERS ACROSS ALL BLOOMBERG PLATFORMS. A CASCADE OF NEWS OUT OF THE WHITE HOUSE ON FRIDAY AFTERNOON. WE HEARD ABOUT GREENLAND. IT SOUNDS WE HAVE A REVOLUTION, ALTHOUGH WE DON'T KNOW HOW MUCH HAS CHANGED AS A RESULT OF WHAT HAS BEEN ANNOUNCED. CHRISTINA: I REACHED OUT TO SOME NORDIC SOURCES QUITE LATE THEIR TIME LAST NIGHT AND INITIALLY THEY SAID, YES, IT SOUNDS LIKE IT IS DIFFERENT FROM WHAT WE ALREADY HAVE, BUT THE U.S.

COULD ALREADY PUT WHATEVER MILITARY BASES THEY WANT THEIR. THERE ISN'T THAT MUCH FINANCIAL INVESTMENT FROM PLACES LIKE RUSSIA YET, BUT WE HAVE TO SEE WHAT IS CODIFIED, AND IT HAS TO BE APPROVED BY THEIR PARLIAMENT. DAVID: SHE HAS NORDIC SOURCES. I JUST WANT TO UNDERSCORE THAT. THAT IS INCREDIBLE. CHRISTINA: I DON'T ALWAYS HAVE USEFUL SOURCES, BUT THERE ARE SMALL POCKETS. DAVID: IN THIS CASE, VERY GOOD. LET'S GET A CHECK OF THE HEADLINES HERE WITH LISA.

LISA: GOOD MORNING. LET'S START WITH THIS IN WASHINGTON. THOUSANDS OF PROTESTERS TOOK TO THE JOHN F. KENNEDY SENATOR LAST NIGHT -- CENTER LAST NIGHT. THE PRESIDENT, WHO HAD BEEN FIGHTING TO HAVE HIS NAME PLACED ON THE BUILDING, HAS THREATENED TO TEAR IT DOWN. THE KENNEDY CENTER BOARD VOTED TUESDAY TO CLOSE THE CENTER INDEFINITELY FOR REPAIRS HOURS AFTER A DISTRICT JUDGE BLOCKED THEIR PLANS TO RETURN TRUMP'S NAME TO THE FACILITY.

PRESIDENT TRUMP WAS BUSY YESTERDAY MAKING A NUMBER OF ANNOUNCEMENTS INCLUDING THE U.S. REACHING A SECURITY DEAL WITH GREENLAND. IN A SOCIAL MEDIA POST, THE PRESIDENT SAID HIS ADMINISTRATION REACHED AN AGREEMENT WITH DENMARK, GIVING THE U.S. PERMANENT CONTROL OVER SECURITY FOR GREENLAND. THE LEADERS OF DENMARK AND GREENLAND SAY THEY EXPECT THE PACT TO BE SIGNED LAST -- NEXT WEEK. THEY ALSO SIGNED A RUSSIAN SANCTIONS BILL INTO LAW.

THE MOVE ALLOWS HIM TO OPPOSE TARIFFS ON COUNTRIES THAT PURCHASE RUSSIAN CONTROL -- PETROLEUM PRODUCTS. U.S. ALLIES LIKE TURKEY MAY BE AFFECTED. OPPONENTS ARGUE IT COULD OPEN THE DOOR TO TARIFFS ON THE ENTIRE EUROPEAN UNION. IT IS AN HONOR THAT STRIKES AT THE HEART OF THE FIRST AMENDMENT. IN A SOCIAL MEDIA POST, PRESIDENT TRUMP SAID SEE AS -- CNN, MS NOW, AND POLITICO ARE BANNED FROM THE WHITE HOUSE EFFECTIVE IMMEDIATELY DUE TO WHAT HE CALLED UNFAVORABLE COVERAGE.

THE PRESIDENT DEFENDED HIS DECISION DURING A PRESS CONFERENCE YESTERDAY.

IT IS CUMULATIVE. OVER THE LAST FEW YEARS. YOU GET SICK OF IT. LISA: THE PRESIDENT THREATENED TO BAR OTHER OUTLETS FROM THE EXECUTIVE MANSION. FROM A PRESS BAN TO HEALTH CARE. PRESIDENT TRUMP ANNOUNCED ALL 50 STATES WILL JOIN A PROGRAM TO PROVIDE A MORE COMPETITIVE PRICING FOR SOME MEDICAID DRUGS. HE CLAIMS THE PLAN WILL SAVE BILLIONS ON PRESCRIPTION DRUG COSTS.

THIS WAS -- THIS WILL SAVE STATES BILLIONS OF DOLLARS A YEAR IN DRUGS. IT WILL ALLOW THEM TO INVEST IN PROVIDING BETTER HEALTH CARE AND BETTER QUALITY SERVICE WITH THE AMERICAN PEOPLE. LISA: JAMIESON GREER WILL NOW JOIN SCOTT BESSENT IN TALKS WITH CHINESE OFFICIALS IN NEW YORK TOMORROW. IT COMES AHEAD OF THE MEETING BETWEEN PRESIDENT TRUMP AND XI JINPING ON THURSDAY IN WASHINGTON. THE WHITE HOUSE WILL RELEASE AN ITINERARY ON WEDNESDAY.

PRESIDENT TRUMP WILL GREET XI AND HIS WIFE AS THEY ARRIVE AT JOINT BASE ANDREWS. THEY WILL HOLD A MEETING DURING THE DAY, FOLLOWED BY A STATE DINNER. FRIDAY, THE TRUMPS WILL HOST THEM FOR TEA BEFORE THEY DEPART. DAVID: WE WERE TALKING ABOUT THIS WITH TOM KEENE YESTERDAY. THE PAGEANTRY OF GOING TO JOINT BASE ANDREWS TO GREET THE PLANE, SOMETHING HE CLEARLY LIKES. I'M NOT SURE IF IT HAPPENED THE LAST TIME HE WENT TO BEIJING.

CHRISTINA: HE NOTICES WHEN THE LEADER DOESN'T SHOW UP AT THE TARMAC. I ASSUME HE IS MAKING AN EFFORT TO DO THAT. DAVID: OVERNIGHT, GAS AND DIESEL PRICES CONTINUED THEIR UPWARD CLIMB EVEN AS OIL PRICES HAVE EASED. A GALLON OF REGULAR GAS IS NOW JUST A FEW CENTS OFF FROM THE HIGHS WE SAW IN MAY. DIESEL FUEL HIT ANOTHER RECORD, ALMOST $6.50 A GALLON. CHRISTINA: IN EUROPE, THERE IS CONCERN ABOUT THE OIL SUPPLY WITH FUEL DISRUPTIONS ON BOTH SIDES OF THE ARABIAN PENINSULA.

JOINING US IS CHRIS KENNEDY. I BELIEVE YOU'RE JOINING US FROM WASHINGTON. IF NOT, PLEASE CORRECT US. YOU HAVE WRITTEN THIS ARTICLE CALLED "A TALE OF TWO STRAITS," WHICH IS MORE CLEVER THAN MIKE SCHRODINGER'S -- THAN MY SCHRODINGER'S STRAIT. GIVE US AN IDEA OF WHAT IS MOVING, WHAT IS IT MOVING, AND IF YOU LOOK AHEAD IS EVEN POSSIBLE NOW. CHRIS: THANKS SO MUCH. I AM IN WASHINGTON AND IT IS GREAT TO JOIN YOU AGAIN. THE STORY IS SINCE THE WAR BEGAN , THERE'S BASICALLY BEEN THREE EXPORT ROUTES FOR OIL THAT IS BEING PRODUCED INSIDE THE PERSIAN GULF.

THAT IS THE STRAIT OF HORMUZ, WHICH WAS DISRUPTED EARLY, AND TO BYPASS ROUTES. THE BYPASS ROUTE THROUGH THE UNITED ARAB EMIRATES, AND WHAT WE ARE TOM MARINO, WHICH IS THE EAST-WEST PIPELINE THAT GOES THROUGH SAUDI ARABIA. OVER THE COURSE OF THE CONFLICT, THAT PORT AND THAT PIPELINE HAD BECOME MORE IMPORTANT. IN AUGUST, THE PIPELINE ACCOUNTED FOR ABOUT 4 MILLION BARRELS A DAY OF EXPORTS. THAT IS UP FROM ABOUT ONE MILLION BARRELS A DAY PRIOR TO THE WAR.

THAT IS ALMOST 30% OF TOTAL EXPORTS FROM THE PERSIAN GULF. SO, THE ATTACK ON THIS PIPELINE IS A SERIOUS HIT TO THE ABILITY TO MOVE BARRELS OUT OF THE PERSIAN GULF. THAT IS WHAT WE ARE SEEING NOW. WE ARE SEEING SAUDI IS TELLING EUROPEAN COUNTRIES THEY ARE GOING TO BE MISSING DELIVERIES NEXT MONTH THAT THEY HAVE CONTRACTED. IT IS STILL A LITTLE TOO EARLY TO SAY HOW LONG THIS DISRUPTION WILL LAST. SAUDI ARABIA CLAIMS THEY WILL BE ABLE TO GET SOME PRODUCTION OR SOME MOVEMENT THROUGH THE PIPELINE IN THE NEXT FEW DAYS, BUT IT COULD TAKE A MONTH OR MORE TO FULLY REPAIR THE PIPELINE.

LONGER TERM, I THINK THIS CREATES ANOTHER RISK. WE HAVE SEEN FLOWS THROUGH THE PIPELINE CAN BE DISRUPTED BY ATTACKS FROM IRAN-ALIGNED GROUPS IN IRAQ AND YEMEN. IT IS ANOTHER RISK TO THE OVERALL OUTPUT FOR THE REGION. DAVID: IT IS TIME FOR OUR WEEKLY SEGMENT ON THE REFINING CRISIS. WE GOT NEWS, I WAS ON AIR WHEN WE LEARNED THAT EUROPE WILL RECEIVE A PRETTY SUBSTANTIAL AMOUNT OF CRUDE IN THE MONTH AHEAD FROM SAUDI ARABIA.

WHAT DOES THAT MEAN FOR EUROPE AND THE GLOBAL ENERGY PICTURE MORE BROADLY? CHRIS: AS YOU MENTIONED, THE REAL CRUNCH RIGHT NOW IS ON THESE OIL PRODUCTS, REFINED PRODUCTS, DIESEL, GASOLINE. BUT DIESEL IS THE BIG ONE. DIESEL ACCOUNTS FOR ABOUT 30% OF OIL OUTPUT , AND PRIMARILY DIESEL, WHICH IS THE WORKFORCE OF THE ECONOMY AS TRANSPORTATION FUEL. WE ARE AT RECORD HIGHS IN THE U.S.. BUT THIS IS REALLY A GLOBAL CHALLENGE. EUROPEANS ARE GOING TO BE FACING A CRUNCH.

IF THEY CANNOT GET CRUDE FROM THE MIDDLE EAST TO RUN INTO THEIR REFINERIES ENTERED INTO DIESEL AND OTHER PRODUCTS, THEY WILL BE PULLING MORE FROM THE U.S.. WE SAW LAST WEEK THE U.S. WAS TOUCHING RECORD CRUDE EXPORTS. WE EXPECT THAT PRESSURE TO CONTINUOUS COUNTRIES AROUND THE WORLD LOOK FOR ALTERNATIVE SUPPLIES FOR CRUDE. FOR THE TIME BEING, WE ARE NOT REALLY SEEING THIS CRUNCH ON DIESEL ALLEVIATING. THE PRICE INCREASE HAS SLOWED A LITTLE BIT BUT YOU MENTIONED WE ARE AT A RECORD HIGH IN THE U.S.

AND THAT IS REALLY THE STORY AROUND THE WORLD RIGHT NOW. CHRISTINA: I WILL ADMIT, I DON'T NORMALLY READ JP MORGAN COMMODITIES REPORTS, BUT ONE DID CATCH MY EYE THIS WEEK. THEIR COMMODITIES TEAM SAID IT IS NO LONGER OFFERING FORECASTS FOR WHEN IT THINKS THE WAR MIGHT END. FOR THE FIRST TIME SINCE