Qatari LNG Tanker Reportedly Struck in Hormuz | Horizons Middle East & Africa 7/7/2026

Global markets are back on edge as tensions in the Strait of Hormuz resurface after a Qatari LNG tanker was struck, sending oil prices higher and renewing concerns over global energy supplies. We also cover Saudi Aramco’s decision to cut its crude price to the lowest level since 2020, Morgan Stanley’s view that US equities are entering an adjustment period, and Samsung’s disappointing earnings that weighed on Asian stock markets.
In today’s update, we examine ADNOC’s $1 billion acquisition of Shell’s South African fuel retail, wholesale, aviation, and lubricants business, SK Hynix’s preparations for a potential $28 billion US listing, Microsoft’s Xbox division cutting 3,200 jobs, the latest mediation in the legal battle between Elon Musk and OPENAI, Japan’s strongest 30-year bond auction demand since 2019, renewed debate over the undervalued Japanese yen, Arabica coffee prices surging on El Niño concerns, NATO’s growing air defense challenges, and Mubadala’s launch of a $25 billion private credit business. Guests includes Deepak Mehra, Commercial Bank of Dubai Chief Economist, and Bader Saeed Al Lamki, ADNOC Distribution 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
00:03:36 – Hormuz Tensions Resurface
00:07:05 – Deepak Mehra, Commercial Bank of Dubai Chief Economist
00:13:32 – Bader Saeed Al Lamki, ADNOC Distribution CEO
00:27:55 – Samsung Shares Fall After Results
00:32:20 – Arabica coffee soars 19% on EL Nino fears
00:37:03 – Nato’s Spending Gap
00:42:54 – Mubadala opens $25B credit business to outsiders
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