Oil Jumps as Iran Threatens Hormuz Again | Horizons Middle East & Africa 7/20/2026

Published 20 July 2026 · finance

Global markets were shaken as oil prices jumped following another sharp escalation in the US-Iran conflict. The US launched a ninth wave of strikes against

Global markets were shaken as oil prices jumped following another sharp escalation in the US-Iran conflict. The US launched a ninth wave of strikes against Iran, while Tehran abandoned its interim peace agreement with Washington and threatened to tighten control over shipping through the Strait of Hormuz, warning that future oil shipments could require Iranian approval. President Trump said the latest military campaign aims to end any possibility of Iran obtaining nuclear weapons, as the conflict intensified with the death of a third US service member and additional warplanes deployed to the Middle East. In technology, China's AI race accelerated as Moonshot AI unveiled new ambitions, reportedly targeting a Hong Kong IPO within six months, while Alibaba previewed its latest flagship artificial intelligence model.

The White House is also considering new AI oversight measures as investors reassess the outlook for AI stocks after a turbulent stretch. We also cover TSMC's plans in Arizona, the latest developments across the semiconductor industry, and what they mean for the global AI race. Elsewhere, Middle East banks prepare to report second-quarter earnings, the UAE reviews major investment projects following the Iran conflict, Ghana proposes sweeping changes to mining licenses, US and Congo travel restrictions threaten humanitarian aid efforts, and Spain defeats Argentina to win the FIFA World Cup. Guests Includes Niamh McBurney, Control Risk Director; Trinh Nguyen, Natixis Emerging Asia Senior Economist; Sam Gidoomal, Alvarez & Marsal Middle East Financial Director; and Wendell Huang, TSMC Senior Vice President & 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 00:05:18 - US, Iran Expands Strikes Beyond Military Targets 00:08:18 - Niamh McBurney, Control Risk Director 00:15:32 - Trinh Nguyen, Natixis Emerging Asia Senior Economist 00:28:01 - Sam Gidoomal, Alvarez & Marsal Middle East Financial Director 00:33:12 - Wendell Huang, TSMC Senior Vice President & CFO 00:37:39 - Andy Burnham to Become UK Prime Minister 00:41:35 - Ghana Seeks to Slash Mining License Duration More on Bloomberg Television and Markets Like this video?