Oil Supply Risks Rise as Hormuz Talks Stall | Horizons Middle East & Africa 8/13/2026
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Global markets gain as softer US inflation reduces expectations for another Federal Reserve rate hike, while investors continue watching the standoff between the US and Iran over the Strait of Hormuz. Talks appear deadlocked, although Pakistan says Washington and Tehran may be moving toward a possible agreement. Hormuz traffic remains below prewar levels, Iran says users must address environmental damage, and President Trump insists the US has "total control" of the strategic waterway. Asian stocks advance on technology gains and easing rate-hike bets, with South Korea leading the region's tech rally. Tencent shares fall as investors assess rising AI costs despite hopes that WorkBuddy could drive an AI turnaround. Cisco's strong results also fail to impress investors, while Cerebras shares tumble after a weaker growth outlook. Anthropic is reportedly in talks to acquire startup company Decart for $6 billion. In energy markets, oil prices edge lower after a six-day rally, while the IEA
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