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Saudi Pipeline Stays Offline; Trump Clashes With AI Bosses
Oil advances as Saudi Arabia seeks to boost oil exports through the Strait of Hormuz while its key East-West pipeline remains offline for several days, keeping energy markets focused on supply risks. Etihad Airways says its large cargo business and fuel hedging have helped limit the impact of higher oil prices, with the airline targeting breakeven.
The US 10-year Treasury yield breaches 5% for the first time since 2023 as traders weigh higher yields, AI concerns and expectations for Federal Reserve policy. Emerging-market assets slide as oil and AI worries weaken risk appetite, although emerging markets have outperformed this year and positive real yields remain supportive.
AI takes center stage as Trump clashes with technology leaders over concerns about the risks and pace of AI development. Trump calls fears over AI taking over the world a hoax and attacks Anthropic over calls to slow development, while Sacks says AI labs do not need government to dictate the pace of technology. China rejects what it calls AI fearmongering. Bank of America’s Brian Moynihan warns that markets and businesses need time to absorb the pace of AI change, highlighting concerns around autonomous AI agents, product liability and delayed AI spending.
In Asia, stocks trade mixed amid AI slowdown fears, while Chinese consumption and investment remain weak despite August industrial output rising 5.2% year-on-year. Economists see September as critical for additional stimulus.
Canada’s Mark Carney says tensions with the US helped clarify red lines and that a mutually beneficial US-Canada deal remains possible. UK Mayor Andy Burnham considers Saudi support against the Houthis as the Saudi-Houthi conflict raises economic risks for the UK.
In Africa, Dangote plans to start a new refinery in Kenya this month, while a rush to buy Dangote refinery shares causes some Nigerian trading apps to crash. Guests includes Matthew Ryan, Ebury Market Strategy Head, Antonoaldo Neves, Etihad CEO, Rajeev Sibal, Morgan Stanley Senior Global Economist and Michael Wade, IMD Professor of Strategy and Digital.
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
00:05:10 - Matthew Ryan, Ebury Market Strategy Head
00:12:30 - Saudi Arabia Seeks Hormuz Oil Export Boost
00:15:12 - Antonoaldo Neves, Etihad CEO
00:19:49 - Chinese Consumption and Investment Languishes
00:27:28 - Rajeev Sibal, Morgan Stanley Senior Global Economist
00:33:28 - Michael Wade, IMD Professor of Strategy and Digital
00:41:25 - Brian Moynihan, Bank of America Chairman and CEO
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Published Sep 15, 2026
