Oil Surges as Houthi-Saudi Fighting Escalates, Iran Braces for Long War

Watch on YouTube ↗  |  September 11, 2026 at 07:16  |  45:59  |  Bloomberg Markets
Speakers
Stuart Livingstone-Wallace — Bloomberg Executive Editor for Middle East, North Africa, and Russia
Winnie Hsu — Bloomberg Reporter (Asia Markets)
Angelina Lai — CIO Asia & Middle East, St. James's Place
Thani bin Ahmed Al Zeyoudi — UAE Foreign Trade Minister
Abeer Abu Omar — Reporter, Bloomberg London
David Savage — Editor, The Block
Chris — Bloomberg Media and Entertainment Reporter
Jennifer Zabasajja — Chief Africa Correspondent, Bloomberg

Summary

Oil surged above $108 as Saudi-Houthi fighting intensified and risks around Hormuz and the Red Sea rose. Global bonds sold off, pushing 10-year Treasury yields toward 5% and raising fears that oil-led inflation could force the Fed to hike. Asian equities fell, with Korean memory names hit after DeepSeek's cheaper AI model raised HBM-demand concerns. The UAE outlined a major German investment package and defense cooperation, while BRICS and Iran nuclear developments remained in focus.

  • Oil climbed above $108 as Middle East escalation threatened shipping routes.
  • Global bond selloff pushed Treasury yields near 5% and lifted Fed hike odds.
  • Asian stocks fell on oil, inflation and higher yields; Korean memory names weakened.
  • DeepSeek's cheaper model raised concerns about lower HBM demand and AI price wars.
  • UAE announced large German investment and defense-sector agreements.
  • BRICS met in New Delhi amid divisions over Iran and trade alignments.
  • IAEA flagged activity at Iran's Pickaxe Mountain nuclear site.
  • CPI and the Fed decision remained key near-term macro catalysts.
Ideas
Winnie Hsu Bloomberg Reporter (Asia Markets) 3:46
DeepSeek cuts HBM need, memory pressured
DeepSeek's cheaper and more efficient Ultra model requires less high-bandwidth memory, which is driving memory chip stocks lower. SK Hynix and Samsung Electronics are leading Asian losses as investors worry about lower HBM demand.
000660.KS 005930.KS MED
Winnie Hsu Bloomberg Reporter (Asia Markets) 4:09
MiniMax hit by AI price war
DeepSeek's cheaper model is also hitting competitors such as MiniMax, and the price war among Chinese AI competitors is likely to continue, pressuring those names.
MiniMax MED
Stuart Livingstone-Wallace Bloomberg Executive Editor for Middle East, North Africa, and Russia 6:05
Oil stays elevated on shipping escalation
Escalation around Hormuz and the Bab el-Mandeb is making shipping more targetable and disrupting the oil market. With Brent above $100 and no sign of a quick de-escalation, he expects oil to remain elevated and sees no near-term drop back below $100.
WTI HIGH
Thani bin Ahmed Al Zeyoudi UAE Foreign Trade Minister 8:53
UAE investment supports Germany
The UAE is committing €46 billion of investment into Germany, including €10 billion into Bavaria, across AI, energy, logistics and industrial development. He frames Germany as an industrial and technology powerhouse and says the partnership is long-term.
EWG MED
Thani bin Ahmed Al Zeyoudi UAE Foreign Trade Minister 10:39
UAE deals boost German defense sales
The UAE and Germany signed government and private-sector agreements covering defense, with around €9.3 billion of contracts. He sees a big market and huge sales opportunity for German defense companies, while the UAE can also supply tested technology to German defense firms.
ITA MED
Angelina Lai Asia and Middle East CIO, St. James's Place 15:59
Inflation and hikes pressure Treasuries
The real risk is inflation and expected central-bank rate hikes, which could lead to lower asset values and further Treasury bond selloffs; the move toward 5% on the 10-year yield is significant but secondary to inflation risk.
TLT MED
Angelina Lai Asia and Middle East CIO, St. James's Place 19:17
Weather shocks lift wheat and copper
Extreme weather and El Nino effects have pushed wheat prices sharply higher and constrained copper supply, adding to inflation and stagflation risks; she is focused on inflation-resilient portfolios.
WEAT COPPER MED
Winnie Hsu Bloomberg Reporter (Asia Markets) 26:47
AI price war pressures HSTECH
Cheaper AI models are intensifying price competition among Chinese AI players, creating pressure on the HSTECH index even as higher yields already weigh on tech stocks.
HSTECH MED
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This Bloomberg Markets video, published September 11, 2026, features Winnie Hsu, Stuart Livingstone-Wallace, Thani bin Ahmed Al Zeyoudi, Angelina Lai discussing 000660.KS, 005930.KS, MiniMax, WTI, EWG, ITA, TLT, WEAT, COPPER, HSTECH. 8 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Winnie Hsu, Stuart Livingstone-Wallace, Thani bin Ahmed Al Zeyoudi, Angelina Lai  · Tickers: 000660.KS, 005930.KS, MiniMax, WTI, EWG, ITA, TLT, WEAT, COPPER, HSTECH