Saudi Oil Flows hit 90% Pre-War Rate | Horizons Middle East & Africa 7/3/2026
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Today's global market update covers the biggest developments shaping financial markets, geopolitics, artificial intelligence, and energy. U.S. job growth slowed sharply in June, raising fresh questions about the Federal Reserve's next move on interest rates. Iran's floating oil storage continues to grow after the US reportedly granted a 60-day window for Tehran to sell its oil, while Saudi Arabia's crude exports have recovered to 90% of their pre-war levels. Meanwhile, Europe is increasingly preparing for the possibility of higher shipping costs through the Strait of Hormuz. In technology, Anthropic is reportedly in talks with Samsung to develop custom AI chips, SoftBank has unveiled plans to introduce AI-powered computers in the United States, and semiconductor stocks are off to a weak start, BDCS imposing distribution caps for a second consecutive quarter and Yen traders are closely watching for potential intervention by Japanese Government. Elsewhere, the Ebola outbreak in Congo cou
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