US Orders Some Diplomats Out of Saudi Arabia After Deadly Attacks, Brent Tops $110
The US orders some diplomats and their families to leave Saudi Arabia as Houthi attacks intensify. Three people are killed in separate incidents at an Aramco oil field and a Saudi airport, while Brent moves above $110 as the security risks lift oil prices.
Iran says Washington must lift its blockade to demonstrate a genuine commitment to peace. Saudi Crown Prince Mohammed bin Salman meets Emmanuel Macron in Riyadh as diplomacy continues alongside the fighting.
Stocks retreat as investors assess contrasting results from Meta and Tesla and the scale of AI investment. Meta delivers a clear earnings beat, while Tesla’s performance is more uneven. Tesla also reduces its 2026 capital-spending plan to $20 billion from more than $25 billion. On Horizons, Equiti Group Senior Market Analyst Nadia Elbilassy argues that AI is not in a bubble and that gold’s longer-term appeal remains intact, with steadier yields potentially helping prices regain momentum.
In an earlier Bloomberg interview, Kuwait Petroleum CEO Sheikh Nawaf Al-Sabah says oil exports have recovered to pre-conflict levels. He calls for stronger protection for ships carrying jet fuel and diesel through Hormuz, describes efforts to keep cargoes moving and praises US military assistance as further support becomes available.
The UAE’s Emirates Global Aluminium has restarted half the production cells at its war-damaged Al Taweelah smelter. Private-equity firm Advent is also extending its Gulf presence with an Abu Dhabi office.
UAE Space Agency Chairman Ahmad Belhoul Al Falasi joins Horizons to discuss the launch of the country’s first domestically built commercial satellite and investor interest in its space ambitions. The conversation spans Thuraya-1’s launch in 2000, Emirati astronaut missions in 2019 and 2023, and a $1 billion satellite partnership linking the UAE and France.
In South Africa, the Industrial Development Corporation is reportedly nearing a $610 million deal for ArcelorMittal South Africa, with cash and debt forming part of the proposed transaction. Ninety One’s Hendrik du Toit sees promising prospects for Johannesburg’s recovery, with the firm planning to support infrastructure projects aimed at reversing the city’s decline. A new fiscal anchor accompanies a budget seen as supportive for government bonds.
JPMorgan’s Turkish securities subsidiary plans to cease operations. The move concerns the brokerage business, rather than the bank’s continuing operations in Istanbul. Guests includes Nadia Elbilassy, Equiti Group Senior Market Analyst, Hasan Alhasan, IISS Senior Fellow for Middle East Policy and Ahmad Belhoul Al Falasi, UAE Space Agency Chairman.
Chapters:
00:00:00 – Introduction
00:07:31 – Nadia Elbilassy, Equiti Group Senior Market Analyst
00:12:53 – US Orders Some Diplomats Out of Saudi Arabia
00:15:53 – Hasan Alhasan, IISS Senior Fellow for Middle East Policy
00:27:28 – Ahmad Belhoul Al Falasi, UAE Space Agency Chairman
00:35:53 – Sheikh Nawaf Al-Sabah, Kuwait Petroleum CEO
00:39:53 – IDC Nears $610M Deal for ArcelorMittal South Africa
——–
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: https://tinyurl.com/ysu5b8a9
Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.
Connect with Bloomberg Television on:
X: https://twitter.com/BloombergTV
Facebook: https://www.facebook.com/BloombergTelevision
Instagram: https://www.instagram.com/bloombergtv/
Connect with Bloomberg Business on:
X: https://twitter.com/business
Facebook: https://www.facebook.com/bloombergbusiness
Instagram: https://www.instagram.com/bloombergbusiness/
TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en
Reddit: https://www.reddit.com/r/bloomberg/
LinkedIn: https://www.linkedin.com/company/bloomberg-news/
More from Bloomberg:
Bloomberg Radio: https://twitter.com/BloombergRadio
Bloomberg Surveillance: https://twitter.com/bsurveillance
Bloomberg Politics: https://twitter.com/bpolitics
Bloomberg Originals: https://twitter.com/bbgoriginals
Watch more on YouTube:
Bloomberg Technology: https://www.youtube.com/@BloombergTechnology
Bloomberg Originals: https://www.youtube.com/@business
Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake
Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol
Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts
