There is growing speculation that the US could exit the war with Iran, with the Strait of Hormuz still remaining effectively closed. 

We'll unpack the comments fueling the speculation, and hear how Europe and how both sides of Australian politics are responding.

Then, we'll turn to domestic affairs - and hear about the latest debates in parliament and tension within the Liberal party. 

Recap the morning's news, politics and global affairs with the Breakfast Wrap.