Saudi Pipeline Stays Offline; Trump Clashes With AI Bosses
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Oil advances as Saudi Arabia seeks to boost oil exports through the Strait of Hormuz while its key East-West pipeline remains offline for several days, keeping energy markets focused on supply risks. Etihad Airways says its large cargo business and fuel hedging have helped limit the impact of higher oil prices, with the airline targeting breakeven. The US 10-year Treasury yield breaches 5% for the first time since 2023 as traders weigh higher yields, AI concerns and expectations for Federal Reserve policy. Emerging-market assets slide as oil and AI worries weaken risk appetite, although emerging markets have outperformed this year and positive real yields remain supportive. AI takes center stage as Trump clashes with technology leaders over concerns about the risks and pace of AI development. Trump calls fears over AI taking over the world a hoax and attacks Anthropic over calls to slow development, while Sacks says AI labs do not need government to dictate the pace of technology. Chin
Tags: Abeer Abu Omar, Africa, Avril Hong, Bloomberg, Bloomberg News, Bloomberg TV, Bloomberg Television, China, Dangote Group, Donald Trump, Economy, Iran, Israel, Middle East, Mideast, Oil, Rajeev Sibal, Saudi Arabia, Senegal, Strait of Hormuz
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