Oil Falls Amid Expectations of Oversupply | Horizons Middle East & Africa 7/2/2026
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Stay ahead of today's biggest global financial and geopolitical developments. Today, we cover Apple's reported move to source Chinese-Made memory chips, Meta's plans to launch an AI cloud computing business, OPENAI discussed handing the US Government a 5% Stake, and the latest comments on inflation from former Federal Reserve official Kevin Warsh. We also examine growing concerns over a potential global currency crisis, Trump's remarks following the US-Iran talks, the continued decline in oil prices, and renewed shipping activity through the Strait of Hormuz. We also discuss the UAE's oil exports returning to pre-conflict levels, Saudi Arabia's efforts to revive oil exports through spot sales, the U.S. decision not to renew its trade agreement with Canada and Mexico, Nigeria's stock market rally becoming a political issue, South Africa's rising inflation expectations, Johannesburg's $128 million funding gap, Prime Minister Narendra Modi's meeting with Sanae Takaichi, Google's partnersh
Tags: Abeer Abu Omar, Africa, Apple Inc., Bloomberg, Bloomberg News, Bloomberg TV, Bloomberg Television, Donald Trump, Economy, Ghana, Hormuz, Iran, Israel, LNG, Middle East, Mideast, Saudi Arabia, Senegal
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