Hormuz Traffic Nears Standstill as Iran Truce Wavers | Horizons Middle East & Africa 7/10/2026

Global markets are balancing strong technology gains against renewed geopolitical tensions in the Middle East. Asian stocks advanced after a rally in US chipmakers, while Micron announced plans to increase investment in its US manufacturing facilities to $250 billion. SK Hynix is set to overtake Alibaba with a record US listing, and Meta plans to begin charging developers to access its latest AI model.
In energy markets, oil prices steadied after a volatile week as shipping through the Strait of Hormuz neared a standstill following recent US-Iran strikes. President Trump’s proposed truce with Iran remains uncertain after renewed attacks, even as Washington and Tehran continue technical discussions over a potential nuclear agreement. We also cover the burial of Iran’s supreme leader in Mashhad and the latest developments across the region.
Elsewhere, the Federal Reserve’s Kevin Warsh announced leadership for five new policy task forces, the Bank of Japan maintained its regional economic assessment while warning of upside inflation risks, and Japanese government bond yields declined. Taiwan suspended stock trading because of a typhoon, while Typhoon Bavi raised flood risks in parts of China.
We also examine Morgan Stanley’s downgrade of Saudi Arabian equities, Deutsche Bank’s expansion across the Middle East, METL’s $250 million graphite refining investment, the World Bank’s weaker growth outlook for Kenya, Nigeria’s stock market overtaking South Korea’s KOSPI in performance, and Goldman Sachs restricting employee prediction market betting. Guests includes Rachel Ziemba, Ziemba Insights Founder; Selena Ling, OCBC Chief Economist; and Mohammed Dewji, METL Group President and CEO.

Chapters:
00:00:00 – Introduction
00:05:20 – Trump’s Iran Truce in Limbo
00:08:25 – Rachel Ziemba, Ziemba Insights Founder
00:15:17 – Selena Ling, OCBC Chief Economist
00:28:56 – Oil Steadies at End of Volatile Week
00:33:36 – Mohammed Dewji, METL Group President and CEO
00:37:36 – METL to spend $250M on refining graphite
00:42:20 – SK HYNIX’s $26.5B Listing
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