Qatari LNG Tanker Reportedly Struck in Hormuz | Horizons Middle East & Africa 7/7/2026
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Global markets are back on edge as tensions in the Strait of Hormuz resurface after a Qatari LNG tanker was struck, sending oil prices higher and renewing concerns over global energy supplies. We also cover Saudi Aramco's decision to cut its crude price to the lowest level since 2020, Morgan Stanley's view that US equities are entering an adjustment period, and Samsung's disappointing earnings that weighed on Asian stock markets. In today's update, we examine ADNOC's $1 billion acquisition of Shell's South African fuel retail, wholesale, aviation, and lubricants business, SK Hynix's preparations for a potential $28 billion US listing, Microsoft's Xbox division cutting 3,200 jobs, the latest mediation in the legal battle between Elon Musk and OPENAI, Japan's strongest 30-year bond auction demand since 2019, renewed debate over the undervalued Japanese yen, Arabica coffee prices surging on El Niño concerns, NATO's growing air defense challenges, and Mubadala's launch of a $25 billion pri
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