Oil Rises as Hormuz Risks Persist | Horizons Middle East & Africa 9/4/2026

Watch on YouTube ↗  |  September 04, 2026 at 06:47  |  45:13  |  Bloomberg Markets
Speakers
Katie Sharma — Founder and CEO, Algorithm Research
Onur — Bloomberg Managing Editor, Middle East and North Africa
Anthony Stevens — Bloomberg Market Producer
Carla Slim — Chief Economist, Middle East and Pakistan, Standard Chartered
Paul Dobson — Executive Editor, Bloomberg
WINNIE SUE — Asia Markets Reporter
Sam Altman — CEO, OpenAI
Abeer — Anchor, Bloomberg
Demetrius Menendez — CEO, Maersk

Summary

The episode covers oil near $96 on renewed US-Iran and Strait of Hormuz supply risks, plus a surging yen ahead of the BOJ decision and carry-trade unwinds. It also covers Fed Governor Waller's comments shifting rate expectations before US payrolls, and AI news including OpenAI GPT-6 Astra, Anthropic's credit facility, Nvidia's Hugging Face deal, and Saudi adoption of MiniMax. Guests provide market views on oil, the yen, Treasuries volatility, GCC investment, and Asian tech.

  • Oil heads for its biggest weekly gain since July, near $96, on US-Iran/Hormuz supply risks.
  • The yen surges toward 155 as traders unwind carry trades and bet on more BOJ rate hikes.
  • Fed Governor Waller signals openness to holding rates if inflation remains soft; payrolls due later.
  • Asian equities rise, led by Korean tech names; Japanese exporters lag on yen strength.
  • OpenAI GPT-6 Astra rollout lifts AI sentiment and SoftBank; Anthropic nears a $15 billion credit facility.
  • Saudi AI firm Human adopts China's MiniMax M3 model, sending MiniMax shares higher.
  • Standard Chartered sees GCC investment pickup and oil prices skewed to the upside.
Ideas
WINNIE SUE Asia Markets Reporter 3:08
Rate-sensitive Korean tech leads Asia gains
Asian markets are gaining as investors pare bets on Federal Reserve rate hikes, with rate-sensitive tech names like Samsung Electronics and SK Hynix driving the gains.
005930.KS 000660.KS MED
Katie Sharma Founder and CEO, Algorithm Research 7:49
Yen appreciation is not a blip
The Bank of Japan is expected to hike rates, and Japan's sovereign is shifting investments from advanced economies back into domestic markets. Because Japan holds massive foreign assets, this repatriation will likely support appreciation of the yen, and the yen strength is not a blip but a medium-term consequence.
JPY HIGH
Katie Sharma Founder and CEO, Algorithm Research 8:24
Treasury volatility remains the new normal
Treasury market volatility is here to stay because the buyer base changed after 2022 from central banks to price-sensitive hedge funds and mutual funds, so bond-market volatility remains part of the game.
TLT MED
Onur Bloomberg Managing Editor, Middle East and North Africa 12:08
Hormuz supply risk keeps oil elevated
Oil prices are skewed to the upside because inventories must eventually be replenished, reserves are running at record lows, global oil demand growth should continue into year-end, and spare capacity is low.
BNO MED
Anthony Stevens Bloomberg Market Producer 18:41
New OpenAI model lifts SoftBank
OpenAI's GPT-6 Astra marks a sea change, with scores about 10 points higher than Anthropic's last model. SoftBank is up almost 10% in response, showing market excitement around the new model and AI leadership.
SFTBY MED
Anthony Stevens Bloomberg Market Producer 20:56
Saudi adoption validates MiniMax model
Saudi AI firm Human adopting China's MiniMax M3 model validates the open-weight AI thesis and opens a new Middle East-China cooperation vertical, making MiniMax worth watching.
MiniMax MED
WINNIE SUE Asia Markets Reporter 26:50
Strong yen hurts Japanese exporters
The strong yen is hurting Japanese stocks, particularly exporters, with Topix underperforming the tech-heavy Nikkei 225.
TOPIX LOW
Carla Slim Chief Economist, Middle East and Pakistan, Standard Chartered 27:33
GCC planned investment is rising strongly
Standard Chartered's proprietary survey shows GCC planned investment rising sharply: announced 2026 planned investment already matches all of 2025, actual investment is rising, and high-frequency indicators show consumption back to pre-conflict levels, supporting regional growth despite unrest.
GCC HIGH
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This Bloomberg Markets video, published September 04, 2026, features WINNIE SUE, Katie Sharma, Onur, Anthony Stevens, Carla Slim discussing 005930.KS, 000660.KS, JPY, TLT, BNO, SFTBY, MiniMax, TOPIX, GCC. 8 trade ideas extracted by AI with direction and confidence scoring.

Speakers: WINNIE SUE, Katie Sharma, Onur, Anthony Stevens, Carla Slim  · Tickers: 005930.KS, 000660.KS, JPY, TLT, BNO, SFTBY, MiniMax, TOPIX, GCC