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Oil Jumps After Houthis Attack Two Saudi Tankers | Horizons Middle East & Africa 7/23/2026

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Oil prices jumped after the Houthis said they attacked two Saudi oil tankers in the Red Sea, prompting more vessels to avoid the region and raising fresh concerns over global energy supplies. Shipping disruptions are now spreading across both the Red Sea and the Strait of Hormuz, creating what analysts describe as a “two-chokepoint” risk for the global oil market. The US also carried out a twelfth round of strikes against Iran, while President Trump threatened to target Iran’s bridges and power plants if the conflict continues. Despite the escalation, Washington and Tehran signaled that new peace talks are not expected anytime soon.
We also cover the latest earnings from Emirates NBD and First Abu Dhabi Bank, both reporting slightly stronger-than-expected quarterly operating income. The US signed a civilian nuclear cooperation agreement with Saudi Arabia, while Alphabet raised its AI investment outlook, Tesla reported weaker-than-expected profits despite plans to increase capital spending, and US officials alleged that Moonshot AI accessed restricted Nvidia chips.
In Asia, South Korea’s KOSPI surged nearly 4%. We also examine Canada’s response to new 50% US tariffs, DU’s steady second-quarter financial results, rising inflation in South Africa strengthening expectations for higher interest rates, and why the European Central Bank is expected to hold rates steady in July before potentially tightening policy in September.
Guests includes Amol Shitole, Mashreq Capital Fixed Income Head; Anita Anand, Canadian Foreign Minister; and Kais Ben Hamida, DU CFO.

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
00:04:55 – Houthis Attack Two Saudi Tankers in the Red Sea
00:09:35 – Alphabet Hikes AI Spending Outlook
00:14:25 – Amol Shitole, Mashreq Capital Fixed Income Head
00:20:05 – Moonshot Accessed Banned NVIDIA Chips
00:27:05 – Oil Jumps After Houthis Attack Two Tankers in Red Sea
00:31:15 – Anita Anand, Canadian Foreign Minister
00:35:40 – Kais Ben Hamida, DU CFO
00:42:05 – ECB likely to keep rates unchanged in July
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Odyssey Returns to the Cultural Spotlight

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University of Pennsylvania classics professor Emily Wilson says Christopher Nolan’s adaptation of The Odyssey is introducing a new generation to Homer, driving a surge in book sales, library checkouts and interest in studying the classics. Wilson says diverse audiences and fresh perspectives continue to enrich the interpretation of ancient texts, while emphasizing that every translation begins with the original Greek rather than previous English versions.
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UN Needs Rules on AI Weapons, Grossi Says

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Rafael Mariano Grossi, the Argentine head of the International Atomic Energy Agency in Vienna, says there needs to be guardrails around how countries could use autonomous weapons, but innovation can’t be stifled. He speaks during a town hall event moderated by Bloomberg Television in the UN’s General Assembly chamber.
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‘The Chinese Won’: Steven Rattner on Lessons From Trump’s Trade War

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President Trump says tariffs will rebuild American manufacturing, shrink the deficit, and strengthen America’s hand against China. But after court challenges and months of new data, have they delivered? Steven Rattner of Willett Advisors breaks down what’s actually happened, and what it means for investors, businesses, and the US economy.
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Trump Drops Hormuz Fee as US Strikes on Iran Continue

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US President Donald Trump backed away from his plan to impose a 20% charge on cargo shipments through the Strait of Hormuz, but resumed its blockade on Iranian shipping. Meanwhile, US Central Command said it completed a seven-hour wave of strikes against dozens of targets near the strait and along Iran’s coast. Bloomberg’s Abeer Abu Omar reports.
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US Strikes Iran for 10th Day; Burnham Surprises with Chancellor Healey | Daybreak Europe 7/21/2026

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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.

On today’s show, the US launched another wave of strikes on Iran, after President Trump said Iran would ‘pay’ for the deaths of US troops. The 10th consecutive day of attacks came even as mediators sought to revive the truce.

The new UK Prime Minister Andy Burnham has made the surprise decision to appoint former Defense Secretary John Healey as Chancellor, fuelling speculation about a bigger increase in military spending.

And the US says it will impose a fresh 50% tariff on some Canadian goods, alleging Canada has been treating American cars, alcohol and dairy unfairly.

Today’s guest: Tim Bale, Queen Mary University of London, Politics Professor.

Chapters:
00:00:00 – Daybreak Europe
00:00:53 – Chip Stocks Drive Asia Rebound
00:05:48 – US Strikes More Iranian Targets as Houthis Threaten Blockade
00:09:19 – Burnham Chooses Healey as Chancellor
00:13:54 – US Vows 50% Tariff on Canada
00:16:31 – Trade War Looms Over US-Canada Tariff Threat
00:19:50 – France, Germany Plot Roadmap on China Trade
00:21:45 – EU Fines Alibaba for Selling Illegal Products
00:27:26 – Burnham Pledges ‘Circuit Breaker’ Moment for UK
00:33:30 – Tim Bale, Queen Mary University of London, Politics Professor
00:38:09 – Gilts Rattled on Burnham’s First Day as Fiscal Fears Return
00:42:34 – Boeing Returns to Air Show With Flurry of Orders
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