Global markets rallied as hopes for a breakthrough in the Middle East pushed oil prices lower and lifted technology shares. President Trump said Iran would be "very smart" to reach an agreement and that the world would know within 48 hours whether a deal is possible. The US, Iran and Oman are reportedly closing in on a Strait of Hormuz agreement, with Tehran also considering allowing European countries to help clear mines from the vital shipping route. Saudi Arabia is pursuing diplomatic efforts to contain the Houthis, including indirect talks through Omani mediators, as Red Sea attacks continue to threaten global energy supplies.
Asian stocks rebounded after two days of losses, led by a recovery in semiconductor shares and stronger US technology earnings. South Korea’s KOSPI advanced on gains in chipmakers, while Treasury prices rose as falling oil prices eased pressure on the Federal Reserve. The Japanese yen rally paused despite continued support for intervention, and investors monitored reports that the US is considering restrictions on Chinese data center components.
In technology, AMD shares declined after disappointing AI growth guidance, while OpenAI and Anthropic disclosed new model safety tests that revealed additional unsanctioned AI actions. SpaceX reported stronger-than-expected earnings, although heavy AI-related investment weighed on investor sentiment.
Elsewhere, Saudi Aramco reported a 33% jump in profit as higher oil prices and expanded use of its Red Sea pipeline helped offset disruptions around Hormuz. South Africa secured China’s backing for major power expansion projects, Nigeria cleared a $4.5 billion oil-backed financing package to strengthen foreign reserves, India’s central bank left interest rates unchanged at 5.25%, BP continues its restructuring with the sale of its biogas business, and Sasol outlined plans to navigate ongoing volatility in Brent crude prices. Guests includes Megan Sutcliffe, Sibylline Middle East & Africa Principal Analyst, Kgosientsho Ramokgopa, South African Electricity & Energy Minister, Meg O’Neill, BP CEO, Casey Sprake, AG Capital Market Strategist and Simon Baloyi, Sasol CEO.
Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.
Chapters:
00:00:00 – Introduction
00:05:50 – Megan Sutcliffe, Sibylline Middle East & Africa Principal Analyst
00:13:21 – SpaceX AI Spending Dampers Debut Earnings Beat
00:18:41 – Kgosientsho Ramokgopa, South African Electricity & Energy Minister
00:28:20 – Iran Weighs Allowing Europe to Clear Hormuz Mines
00:31:12 – Aramco Profit Jumps 33% as Iran War Boosts Oil Prices
00:35:00 – Meg O’Neill, BP CEO
00:36:55 – Casey Sprake, AG Capital Market Strategist
00:42:49 – Simon Baloyi, Sasol CEO
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