Name: Oil Fluctuates Despite Steady Hormuz Flows | Horizons Middle East & Africa 7/6/2026
Uploaded: 2026-07-06T07:44:58+00:00
Duration: 2770 s

Speakers

Stephen — Energy Team Leader, Bloomberg Asia

Avril Hong — Reporter, Bloomberg Markets

Gareth Nicholson — CIO, FAB Asset Management

Zeina Rizk — Amwal Capital Partners, Co-Head of Fixed Income

Jennifer — Chief Africa Correspondent, Bloomberg

Abeer — Anchor, Bloomberg

Summary

Asian equities reversed early gains as the AI-led rally lost momentum ahead of key earnings from Samsung and SK Hynix. Oil prices fluctuated as Hormuz flows continued and OPEC+ signaled further supply increases. Guests discussed equity broadening, yen depreciation, Middle East credit complacency, and South Africa's accelerating renewable energy shift.

Asian stocks wobbled, with Korea reversing sharply as AI consolidation continued ahead of earnings.
Oil prices whipsawed; OPEC+ raised production quotas while Hormuz traffic showed cautionary recovery.
Goldman Sachs revised USD/JPY forecast to 165, citing higher US yields and slow BOJ hikes.
FAB CIO Gareth Nicholson sees a healthy broadening of equities, favoring Japan inflows.
Amwal Capital’s Zeina Rizk highlighted complacency in Middle East credit after spreads tightened.
South Africa's companies rapidly adopt solar to hedge against Eskom blackouts and price increases.
Abu Dhabi wealth fund may take TAQA private, a step in the emirate's broader asset restructuring.

Ideas

Avril Hong Reporter, Bloomberg Markets 3:37

Yen to weaken further toward 165.

Goldman Sachs has pushed its USD/JPY forecast to 165 from 155, citing higher-for-longer US yields and slow BOJ hikes. Additionally, Japan's bond buying operation is creating a negative feedback loop that adds downward pressure on the yen, supporting a continued depreciation trade.

Stephen Energy Team Leader, Bloomberg Asia 5:02

Oil oversupply emerging, sellers discounting cargoes.

OPEC+ is raising production quotas even though Asian buyers are well-stocked after stockpiling alternative supplies during the Hormuz disruption; sellers are now offering cargoes at a discount because there are few near-term buyers, signalling a developing oversupply that will pressure oil prices.

Gareth Nicholson CIO, FAB Asset Management 13:59

Japan equities attract healthy rotation inflows.

The equity bull market is broadening beyond expensive mega-cap AI names, which is healthy. Japan is seeing strong inflows as part of this rotation, and other semiconductor industry segments are benefiting, creating a more stable and constructive environment for Japanese equities.

This Bloomberg Markets video, published July 06, 2026, features Avril Hong, Stephen, Gareth Nicholson discussing USD/JPY, BNO, EWJ. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Avril Hong, Stephen, Gareth Nicholson · Tickers: USD/JPY, BNO, EWJ

Oil Fluctuates Despite Steady Hormuz Flows | Horizons Middle East & Africa 7/6/2026

Summary

Ideas

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