Oil Rises as Hormuz Risks Persist | Horizons Middle East & Africa 9/4/2026
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Oil heads for its biggest weekly gain since July, approaching $96 a barrel as risks around the Strait of Hormuz keep prices elevated. The yen surges ahead of the BOJ’s rate decision, while the dollar falls to its weakest level since May. US stocks rally as Fed Governor Christopher Waller signals openness to holding rates if inflation continues to improve, while bonds rise and markets reassess the outlook for monetary policy. The US adds 55,000 jobs in August, while JPMorgan warns that a $103 billion yen short position could unwind if the currency strengthens beyond 155. The BOJ is leaning toward a quarter-point rate hike. Asian stocks climb as expectations for Fed easing cool and the yen gains on rate-hike and intervention risks. Bitcoin retakes $80,000 as choppy US demand tests the rally. In technology, OpenAI rolls out its GPT-6 Astra model, with Sam Altman saying the launch took longer than expected. Altman says there are clear red lines for AI models and that debate over AI limits
Tags: Abeer Abu Omar, Africa, Carla Slim, Donald Trump, Iran Nuclear talks, NVIDIA Corp., Oil, OpenAI Inc, Sam Altman, Senegal, Standard Chartered Bank, Strait of Hormuz, U.S. Dollar, Yen, nvidia, petroleum
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