Saudi Oil Falls to 9-Year Low as Tanker Attacks Rise | Horizons Middle East & Africa 9/3/2026
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Saudi oil exports fall to their lowest level in nine years as tankers come under attack in the Red Sea, with Saudi exports dropping to around 3 million barrels a day in August. Oil prices steady after their recent rally as Trump says strikes on Iran could be short-lived and warns the US is prepared to attack at any time. The US also escorted 18 million barrels of oil through the Strait of Hormuz on Tuesday, while traders watch the yen for possible intervention during the holiday period. Hegseth extends Middle East troop deployments into 2027. On the technology front, the US weighs fresh tariffs on imported chips and electronics, with Lutnick saying the measures aim to boost domestic chip production. Taiwan is expected to announce more investment in US semiconductor manufacturing next week, with TSMC and Micron among companies investing in the US. Meta releases a more powerful AI model, Nvidia CEO calls on G20 nations to accelerate AI adoption, HPE raises its sales forecast on AI demand
Tags: Abeer Abu Omar, Africa, Bloomberg, Bloomberg News, Bloomberg TV, Bloomberg Television, China, Donald Trump, Economy, Iran, Israel, Japan, Maurice Gravier, Microsoft Corp., Middle East, Mideast, NVIDIA Corp., Saudi Arabia, South Korea, Steven Witkoff
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