Europe’s oil refiners are paying high premiums for cargoes as the shutdown of Saudi Arabia’s East-West pipeline forces the region’s buyers to scramble for alternatives with fuel prices soaring.  We take a deep dive with Rob Barnett, Senior Energy Analyst for Bloomberg Intelligence. Eric Martin, Bloomberg News State Department Reporter, joins to discuss his Big Take reporting on how Secretary of State Marco Rubio has adapted his foreign policy approach under President Donald Trump. Plus, debate is heating up amongst NFL players and owners – grass versus turf. Nick Pappas, the NFL’s Director of Field Operations, and Randall Williams, Bloomberg Business of Sports Reporter, weigh in on the state of playing surfaces.

Chapters
00:00:00 Bloomberg Businessweek Daily
00:03:05 Markets: Stocks Slip as Yields Rise
00:05:05 Oil, Gas Prices & the Midterms
00:06:20 Saudi Oil Supply & Pipeline Disruptions
00:08:01 Iran Conflict & the Global Oil Market
00:09:11 Why Diesel Prices Are So High
00:11:07 Fed Rate Hikes, Inflation & the Economy
00:13:22 Labor Market & Consumer Spending
00:15:29 Earnings, AI & Market Volatility
00:18:29 Marco Rubio’s Role in Trump’s Foreign Policy
00:21:19 How Rubio Evolved From Trump Rival to Adviser
00:23:53 Rubio, China & U.S. Foreign Policy
00:26:31 Venezuela, Energy Security & Rubio’s Influence
00:29:21 Rubio & the 2028 Presidential Conversation
00:32:21 NFL Debate: Grass vs. Artificial Turf
00:36:00 Inside the NFL’s Playing Field Operations
00:38:17 Injury Rates on Grass vs. Turf
00:40:27 How the World Cup Changed NFL Stadium Fields
00:43:24 Stock Movers: Coinbase, Netflix & Nucor
00:47:21 AI Safety Concerns & the Chip Market
——–
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Nvidia CEO Jensen Huang comments on the sidelines of an event hosted by King Charles III in Scotland about concerns surrounding the mounting risks of artificial intelligence. “You have rigorous testing systems, the testing lab should be contained, and products should not be released to the public until it’s ready to be used by the public,” Huang says.
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Greg Allen, Founder and CEO of Decision Tree Research, says AI has already had “extremely concerning incidents” and model releases should not be “exceeding our pace of safety technologies.” Allen discusses concerns about AI models leaving tools for themselves across the internet and the challenge posed by open-source models as their capabilities increase. He speaks with Kailey Leinz and Joe Mathieu on Bloomberg’s “Balance of Power.”
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Francisco Blanch, commodities and derivatives research head at BofA Securities, says Brent oil prices could climb as high as $150 a barrel if critical infrastructure, like Saudi Arabia’s East-West pipeline, “is hit on a more permanent basis.” Blanch speaks on Bloomberg Television.
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Saudi Arabia faces growing economic pressure as Houthi threats target the kingdom and its East-West oil pipeline could remain mostly shut for six weeks, tightening supply routes around the Red Sea. European oil prices surge as Aramco delays some deliveries, while Russia extends its diesel export ban through September and tighter Chinese fuel stockpiles raise the prospect of export curbs. Oil’s supply-driven rally, however, begins to look overdone.
The US 10-year Treasury yield tops 5% ahead of the Federal Reserve decision, with traders pricing in more than a 90% chance of a rate hike. Bloomberg Economics says Kevin Warsh could leave another hike in play as the Fed is seen potentially raising rates despite pressure from Trump. Markets await the decision as Bessent prepares to meet his Chinese counterpart, with tariffs, US energy and agricultural exports and differences over AI expected on the agenda.
Bitcoin suffers its biggest drop since June after the US Senate blocks a bill, while Bessent says he supports $5,000 checks for Americans and believes they could be funded without increasing the deficit.
In AI, Trump advisers meet with Anthropic executives as OpenAI weighs a funding round valuing the company at $1.2 trillion and works with Anthropic and Google on AI safety. Hong Kong plans to double spending on technology and innovation.
Dubai continues to attract strong global tourism demand, with Kazim saying visitors from the CIS, Far East and Middle East are increasing, although the city remains reliant on Emirates and flydubai to bring in tourists.
In Africa, El Niño is straining Ethiopia’s power supply as drying dams force cuts to Bitcoin miners, who consume almost a third of the country’s electricity. Senegal seeks a debt plan under the G20 framework, the US restricts visa access for some South Africans, and Vodacom plans to appeal a ruling involving its Safaricom stake sale. Guests includes Jeffrey Sexton, Demeter Tactical Investments CEO, Issam Kazim, Dubai Corp for Tourism and Commerce Marketing CEO and Guy Wolf, Marex Market Analytics Global Head.

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
00:04:16 – Markets Await Fed Decision
00:05:37 – Jeffrey Sexton, Demeter Tactical Investments CEO
00:14:23 – Houthis Threaten Saudi Economy
00:18:40 – Issam Kazim, Dubai Corp for Tourism and Commerce Marketing CEO
00:26:36 – European Oil Prices Soar as Aramco Delays Deliveries
00:30:31 – Guy Wolf, Marex Market Analytics Global Head
00:35:47 – Bessent to Meet Chinese Counterpart
00:40:43 – El Niño Strains Ethiopia’s Power Supply
——–
More on Bloomberg Television and Markets

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