McDonald’s is celebrating National Egg McMuffin Day with a limited-time deal for customers.

The fast-food giant is offering customers its classic breakfast sandwich or Sausage McMuffin with Egg for $1 on Monday during breakfast hours. In order to receive the deal, the McMuffin must be ordered through the McDonald’s mobile app.

The McMuffin traces its roots to Santa Barbara, California, in early 1971. McDonald’s owner/operator Herb Peterson developed the idea for the sandwich when a version of Eggs Benedict – particularly the Hollandaise sauce – didn’t make the cut. A slice of cheese replaced the sauce, and along with Canadian bacon, an egg and English muffin, the sandwich was created, according to McDonald’s.

McDonald’s Egg McMuffin sandwich was created in 1971. (McDonald’s Corp.)

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It entered test markets the following year and was served open-faced with honey or jam on a small tray. It cost 63 cents, equivalent to about $4.99 today.

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McDonald’s CEO Chris Kempczinski said during the company’s third-quarter earnings call in November that breakfast is typically the most “economically sensitive daypart” for the business.

“It’s an easy daypart to either skip the meal or to eat the meal at home,” he said. “Breakfast continues to be under pressure as a daypart industry-wide. We’re holding share in breakfast. So we’re doing okay in that segment, but we are still seeing that daypart is under pressure.”

McDonald’s has focused heavily on limited-time promotions and value meals to bring back customers. (Paul Weaver/SOPA Images/LightRocket)

McDonald’s has focused intently on limited-time promotions and value meals as a way to bring budget-conscious Americans back to its restaurants.

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The strategy appears to be working as U.S. sales rose 6.8% in the fourth quarter – the biggest jump in about two years – and lower-priced offers and aggressive promotions drove traffic back into restaurants. Analysts had expected a smaller 4.9% gain.

With Strait of Hormuz traffic nearly halted, China’s reliance on Iranian oil could trigger “real problems” within two months if the crisis continues, one expert warned.

Gatestone Institute senior fellow Gordon Chang joined FOX Business’ Maria Bartiromo on “Mornings with Maria” to assess how escalating tensions around the Strait of Hormuz could reverberate through China’s fragile, export-dependent economy.

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Oil tanker at a port in the Strait of Hormuz. (Giuseppe CacaceI/AFP via Getty Images)

Chang noted that a significant share of China’s discounted Iranian crude, vital for its independent “teapot” refiners, typically transits the narrow waterway, where ships are now largely stalled north and south of the Strait.

“Much of that oil… actually goes to China trying to get somewhere between… 15% and 23% of its seaborne oil from Iran, and that oil transits the Strait of Hormuz,” Chang said.

He added that while Beijing has diversified supplies, the loss of heavily discounted barrels comes at a vulnerable moment for factories dependent on cheaper energy.

“This will go through the system, and I suspect you will see real problems in about two months in China if this situation continues,” Chang said.

Hayman Capital Management founder and CEO Kyle Bass also joined FOX Business’ Maria Bartiromo to discuss market reaction and the broader energy shock rippling through global supply chains.

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Bass pointed to insurance withdrawals and the strategic weight of the choke point, warning that even a temporary disruption could send front-month crude prices sharply higher.

“About a third of the world’s seaborne crude flows through that strait every day. Fifty percent of China’s imports flow through that strait every day. And right now, things are not going through the strait,” Bass said.

“If 10 million barrels goes missing or gets delayed for a week, there’s no telling where the front end can go,” Bass added.

With insurers retreating, LNG shipments disrupted and tanker traffic effectively frozen, the crisis underscores how a five-mile-wide passage can shape the economic trajectory of the world’s second-largest economy.

“We’re at risk of a pretty major oil price spike here,” Bass said.

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Netflix co-CEO Ted Sarandos said Sunday he knew “right away” he would decline to counter Paramount’s winning attempt to buy Warner Bros. Discovery, admitting rival chief executive David Ellison made a superior offer. 

Netflix dropped its bid to buy Warner Bros. Discovery on Thursday after the company announced Paramount’s latest bid to buy all of its assets, including CNN, was “superior.”

“We had a very tight range that we’d be willing to pay and made that offer back when we closed this deal. We hadn’t moved much from that, except for moving to cash, which served to move the deal faster. I’m happy where we got in and happy where we got out,” Sarandos told Bloomberg. 

“We knew right away, when we got the notice on Thursday that they had a superior offer and the details of that deal,” he continued. “We knew exactly what we were going to do.” 

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Netflix co-CEO Ted Sarandos said he knew “right away” he would decline to counter Paramount’s latest attempt to buy Warner Bros. Discovery. (David Benito/FilmMagic via Getty Images / Getty Images)

In December, Warner Bros. announced it had reached a deal with Netflix to buy the Hollywood studio and HBO for $83 billion, prompting Paramount to launch a $108 billion hostile takeover bid for the entire company, including all of its cable assets like CNN, which would have been spun off into a separate company under the Netflix deal.

Sarandos suggested that President Donald Trump was largely interested in the deal because of CNN, the news network that he has long criticized. 

“Once it was clear that we weren’t in the CNN business, it was a lot less interesting. He didn’t care that much more about our deal,” he said.

Sarandos predicted that Paramount Skydance Corp. will ultimately need to slash a significant number of jobs. His comment came after CNN insiders told Fox News Digital that staffers feel “a mix of despair, apprehension and curiosity” as they await details. 

“It would be less production, less people working,” Sarandos told Bloomberg. 

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Netflix co-CEO Ted Sarandos told Bloomberg he was “happy where we got out” of the bid to buy Warner Bros. Discovery. (Charley Gallay/Getty Images for Netflix / Getty Images)

Paramount’s revised offer raised WBD’s value to $31 per share, putting the company’s valuation at $111 billion. Paramount will additionally pay the $2.8 billion termination fee to Netflix after WBD backed out of their deal.

Ellison’s billionaire father, Larry Ellison, is personally backing Paramount’s bid, committing $45.7 billion in equity through the Ellison Trust, while Bank of America Merrill Lynch, Citi and Apollo will provide a $57.5 billion debt commitment.

The Netflix honcho also said Paramount has major regulatory hurdles to clear.

“Even when we were thinking about keeping these businesses together and running, we knew that we had a difficult task ahead of integration. I can’t imagine doing all that and trying to cut billions and billions of dollars. Today, Paramount has half of the people that they had one year ago. So that gives you some sense of where this is heading for the town and for the business,” Sarandos said. 

Last month, Trump called on Netflix to fire board member Susan Rice immediately or “pay the consequences” after the former Obama official warned that corporations she said had “taken a knee” to Republican pressure should not expect forgiveness from Democrats if they return to power.

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President Donald Trump largely lost interest in the Netflix deal once CNN wasn’t involved, according to Ted Sarandos.  (Joe Raedle/Getty Images / Getty Images)

Sarandos told Bloomberg he spoke with Rice but never considered removing her from the board. 

CNN has largely embraced anti-Trump programming for much of the last decade, and the president has responded by publicly criticizing the network on a regular basis. Last year, The Wall Street Journal reported that Ellison told Trump officials that he’d make sweeping changes to CNN if he became its owner. 

One CNN insider said they were trying to keep an “open mind” but said it’s easy to understand why staffers are upset given the reporting on Ellison and Trump discussing changes.

“It’s existential for the brand to be owned by an individual who has personal allegiance to a political figure and is not even answering to public markets,” they told Fox News Digital. 

The White House didn’t immediately respond to Fox News Digital’s request for comment.

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Fox News Digital’s Joseph A. Wulfsohn contributed to this report.