Hormuz Deal in Doubt as Iran Keeps Strait Shut | Horizons Middle East & Africa 8/12/2026
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Global markets focus on the Strait of Hormuz as doubts grow over a deal to reopen the vital shipping route. President Trump says the US "totally controls" Hormuz, while Iran says the Strait will remain closed until its conditions are met. The US also says it fired on a vessel accused of violating the blockade, while Pakistan's interior minister travels to Iran for talks. Oil prices extend gains as traders assess the risk of prolonged disruption, while investors await US core CPI data for signs of how the Iran war is affecting inflation and Federal Reserve policy. The yen moves toward ¥160 per US dollar as intervention concerns return, while Asian stocks gain on stronger technology shares. In technology, CoreWeave shares surge as its AI backlog reaches $104 billion, with another $25 billion in new deals. Nvidia's credit risk eases after its CEO clarifies the company's $500 billion AI infrastructure plan, while Super Micro shares jump after its outlook tops the highest forecast on strong
Tags: Aarthi Chandrasekaran, Abeer Abu Omar, Africa, Bloomberg, Bloomberg News, Bloomberg TV, Bloomberg Television, CPI, China, Coreweave Inc, Donald Trump, Economy, Iran, Israel, Japan, Kenya, Libya, Middle East, Mideast, Nigeria
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