Business
Oil Risks Soar as Houthis Threaten Red Sea Blockade | Horizons Middle East & Africa 7/21/2026
Global markets are closely watching the Middle East as the conflict enters a new phase. The US carried out a tenth consecutive day of strikes on Iran, while President Trump vowed that Iran “will pay” following the deaths of US troops. At the same time, international mediators are working to secure a new US-Iran ceasefire, even as fighting continues to expand across the region.
Energy markets are increasingly focused on the Red Sea after Yemen’s Houthi movement threatened a maritime blockade, raising fears that oil prices could climb above $100 a barrel if shipping disruptions intensify. The Pentagon has requested $80 billion to help fund military operations, while traders continue to assess whether diplomatic efforts can prevent a broader regional conflict.
In financial markets, Asian stocks rebounded on a rally in semiconductor shares, although South Korea’s exchange temporarily activated a sidecar mechanism to curb excessive program buying in the KOSPI. We also cover the European Union’s $629 million fine against Alibaba, legal challenges to the proposed Paramount–Warner Bros. transaction, new 50% tariffs on Canadian goods, Boeing securing nearly 150 aircraft orders at the air show, Airbus signing a major agreement with SMBC Aviation Capital and Riyadh Air, and interviews with the CEOs of Dubai Airports and Turkish Airlines on how the Iran conflict is affecting aviation.
Elsewhere, health officials are expanding the use of existing Ebola vaccines to protect frontline medical workers, Senegal’s President Bassirou Diomaye Faye prepares to launch a new political party following a split with an ally, and a Chinese company has secured a $2.7 billion contract to build a railway in Tanzania. Guests includes Lt. Gen. Karen Gibson (retired), Academy Securities Geopolitical Intelligence Group, Advisor; Ryan Lemand, Neovision Wealth Management CEO & Co-Founder; Paul Griffiths, Dubai Airports CEO; and Murat Seker, Turkish Airlines Chairman.
Chapters:
00:00:00 – Introduction
00:05:05 – Houthis Red Sea Threat Risks Bigger Oil Shock
00:07:58 – Lt. Gen. Karen Gibson (retired), Academy Securities Geopolitical Intelligence Group, Advisor
00:15:18 – Ryan Lemand, Neovision Wealth Management CEO & Co-Founder
00:28:00 – Fresh 50% Tariffs on Canadadian Goods
00:31:00 – Houthies Threaten Saudi Maritime Blockade
00:34:26 – Paul Griffiths, Dubai Airports CEO
00:38:26 – Murat Seker, Turkish Airlines Chairman
00:42:04 – Kelly Ortberg, Boeing CEO
00:42:44 – Guillaume Faury, Airbus CEO
——–
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The Close brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today’s guests are Duke University Professor of Finance Cam Harvey, Morningstar Senior Equity Analyst David Swartz, Philip Morris International Group CEO Jacek Olczak, Citi Wealth Head of Portfolio Advisory Jeanne Sun, RBC Capital Markets Software Equity Research Managing Director Rishi Jaluria, Janus Henderson Global Head, Client Portfolio Management Seth Meyer, SMAC Entertainment CEO & Co-Founder Constance Schwartz-Morini, DraftKings CEO Jason Robins, & Fanatics Betting & Gaming CEO Matt King.
Chapters:
00:00:00 Bloomberg The Close
00:03:42 Duke’s Cam Harvey on Rates, Inflation & Economic Growth
00:07:19 AI Investment, U.S. Growth & the $40 Trillion Debt Load
00:10:24 AI Capex, Data Centers & the Risks of Overinvestment
00:14:01 Oil Tops $107 as Middle East Supply Risks Intensify
00:17:21 Top Calls
00:19:05 Macy’s Turnaround, Consumer Pressure & Department Stores
00:22:38 Philip Morris CEO on the U.S. & Smokeless Products
00:26:00 Nicotine Pouches, Regulation & Philip Morris’ Smoke-Free Strategy
00:29:19 Philip Morris on Capital Allocation & Dividends
00:31:03 Oracle & Adobe Earnings Preview
00:35:18 Markets, Rising Rates & Closing Bell Countdown
00:38:20 Citi Wealth on Economic Resilience & Consumer Strength
00:41:11 AI Investing, Data Center Pushback & Energy Costs
00:43:05 Oracle, AI Spending
00:46:31 Market Selloff, Sector Moves & Defensive Positioning
00:50:34 Adobe Earnings & the Generative AI Challenge
00:55:09 Oracle Earnings Beat as Cloud Revenue Surges
00:58:20 Oracle’s AI Growth, Funding & Long-Term Risks
01:02:13 Financing the AI Boom & Oracle’s Debt Load
01:05:27 Data Center Demand & the Changing Credit Market
01:09:08 SMAC CEO on Athletes Becoming Business Empires
01:12:10 Sports Media, AI & the Growth of Women’s Sports
01:16:16 DraftKings CEO on Sports Betting & Prediction Markets
01:19:04 DraftKings on Regulation, Growth & Investor Concerns
01:22:08 Fanatics on Sports Betting & Market Share
01:24:24 Fanatics on Regulation, Prediction Markets & Responsible Gaming
01:28:30 What to Watch
——–
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A key gauge of US consumer prices rose by more than expected last month, bolstering the case for Federal Reserve officials to raise interest rates next week. Bloomberg Intelligence US Interest Rate Strategist Ira Jersey and Bloomberg News Marco Strategist Frank Monkam discuss how the oil market is moving and what it all means for the Fed ahead of its September meeting next week. Then, Kalshi Chief Risk Officer Udesh Jha talks about the prediction market platform launch of Gold & Silver perpetual trading. Plus, the 2026 NFL season kicked off this week. Bloomberg News Senior Reporter and Co-Host of the ‘Business of Sports’ Podcast Randall Williams previews the season. All on the latest episode of “Bloomberg Businessweek Daily.”
Chapters
00:00:00 Bloomberg Businessweek Daily
00:04:49 Markets: Stocks Rise as Oil Falls
00:06:22 Inflation, Rates & the Fed’s Next Move
00:09:04 Why Markets Expect a Fed Rate Hike
00:11:53 Oil, Gas Prices & Inflation Risks
00:14:00 Consumer Sentiment & the U.S. Economy
00:16:09 Strait of Hormuz & the Oil Market
00:20:41 Kalshi Expands Into Perpetual Futures
00:23:59 Bringing Gold, Silver & Stock Trading to More Investors
00:27:08 Regulated Perpetuals vs. Offshore Markets
00:32:20 Saudi Pipeline Attack & Oil Prices
00:35:19 NFL Goes Global With More International Games
00:38:54 NFL Revenue, Streaming & Private Equity
00:43:07 Market Update: Stocks, Rates & Oil
00:44:20 Stock Movers: Oracle, Microsoft & Adobe
00:47:46 What Comes Next for the AI Trade?
——–
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Ellen Zentner, chief economic strategist and global head of thematic and macro investing at Morgan Stanley Wealth Management, joins Scarlet Fu on “Bloomberg Money.” They discuss how wealth managers must adjust to people living longer.
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Bloomberg Money takes the pulse of your financial life, powered by the reporting of our global newsroom. Today’s guests: Centerview Partners Senior Counselor, Council on Foreign Relations President Emeritus, and Former Advisor to Colin Powell & President H.W. Bush Richard Haass and Morgan Stanley Wealth Management Chief Economic Strategist Ellen Zentner.
YouTube Chapters:
00:00 Bloomberg Money opens
02:01 Roundtable: Inflation, Oil & Interest Rates
05:00 Midterms, Affordability & $5,000 Checks
08:01 Stock Market, Retirement & “VOO and Chill”
09:34 Eric Balchunas on Vanguard & Low-Cost Investing
11:28 Richard Haass: America’s Strength at Home
13:26 Richard Haass on U.S. Foreign Policy
14:51 National Debt as a Security Risk
16:03 Rebuilding Trust in Government
18:50 Richard Haass on His Investing Strategy
20:01 Richard Haass on George H.W. Bush & The Big Lebowski
22:39 Kathryn Anne Edwards on Social Security
26:22 Ellen Zentner on Social Security & Retirement
28:42 Ellen Zentner on Longevity & Wealth Planning
30:19 Rethinking Generational Wealth Transfers
31:32 Women & the Coming Wealth Transfer
32:42 Millennials, Markets & Wealth
34:10 Sports Betting vs. Investing
36:08 9/11 Memorial Ceremony
45:25 Final Moment of Silence & 9/11 Remembrance
——–
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DraftKings Inc. Chief Executive Officer Jason Robins says the company has seen growth across all of its products and says prediction markets present a huge opportunity for the business. He speaks to Bloomberg’s Romaine Bostick.
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