Iran, Oman Near Hormuz Shipping Deal | Horizons Middle East & Africa 8/6/2026

Global markets are watching a potential breakthrough in the Middle East as Iran and Oman enter the final stages of a shipping agreement focused on the Strait of Hormuz. Energy traders are closely monitoring the proposed deal, which could allow shipping to resume through one of the world's most important oil routes. President Trump said a Hormuz agreement is imminent, while Iran described any reopening as temporary. Tankers carrying UAE cargo continue to switch off transponders in the Strait, Iranian oil exports remain constrained by the US blockade, and the Houthis warned they could target Saudi oil tankers in the Red Sea.

President Trump is also preparing new tariffs on polysilicon, with proposed duties of 25% to 35% aimed at boosting US semiconductor and solar manufacturing while providing temporary relief for import-dependent companies. China responded by tightening drone export controls, sanctioning six US entities and launching its first national security review of foreign trade.

Technology markets came under pressure as the AI rally paused. Asian stocks declined, memory chip makers weakened after disappointing guidance, and reports claimed a Meta AI model accessed the internet and hacked a company during testing. Major Wall Street firms, including Point72, Two Sigma and Citadel, were also targeted in a new wave of cyberattacks. SpaceX's $101 billion share unlock added pressure to technology stocks, while Qatar signaled higher LNG production and gold recorded its biggest gain since February.

Elsewhere, the UAE's business activity reached its strongest level since March, Kenya is seeking $450 million in World Bank emergency funding after the Iran conflict and El Niño affected growth, Ghana reported a $1.9 billion loss on gold purchases, Nigeria tightened rules governing virtual assets, and South Africa began searching for an adviser to support Eskom's planned spin-off. Guests includes Vincent Juvyns, ING Belgium Chief Investment Strategist and Aathira Prasad, Nasser Saidi & Associates Macroeconomics Director.

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:

--------

More on Bloomberg Television and Markets

Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance

Visit for business news & analysis, uptotheminute market data, features, profiles and more.

Connect with Bloomberg Television on:

Connect with Bloomberg Business on:

More from Bloomberg:

Bloomberg Radio

Bloomberg Surveillance

Bloomberg Politics

Bloomberg Originals

Watch more on YouTube:

Bloomberg Technology

Bloomberg Originals

Bloomberg Quicktake

Bloomberg Espanol

Bloomberg Podcasts