Hormuz Tensions Rise After UAE Tankers Hit | Horizons Middle East & Africa 7/14/2026
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Global markets are reacting to another sharp escalation in the Middle East after President Trump reinstated a blockade on Iranian shipping, declaring the US would "keep the Strait" and proposing a 20% levy on vessels transiting the Strait of Hormuz. Oil prices extended their rally as geopolitical risks intensified following reports that the IRGC struck communication facilities, US staff housing, and weapons depots linked to military bases in Bahrain. The United Arab Emirates also reported that two tankers were hit along the southern shipping route through the Strait of Hormuz, raising fresh concerns over global energy supplies. We also examine growing expectations for further Federal Reserve interest rate hikes ahead of the latest US inflation data, as traders assess the inflationary impact of the conflict. In technology, SK Hynix shares fluctuated after a Wall Street selloff in AI memory stocks, while Huawei and Apple gained support in China amid ongoing memory supply disruptions. Riy
Tags: Abeer Abu Omar, Africa, BlackRock Inc., Bloomberg, Bloomberg News, Bloomberg TV, Bloomberg Television, Donald Trump, Economy, Iran, Israel, Kenya, Middle East, Mideast, Oil, Saudi Arabia, Senegal, Strait of Hormuz, US Banks, Yemen
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