Houthi Threat Grows as Saudi Pipeline Shutdown Hits Oil
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Saudi Arabia faces growing economic pressure as Houthi threats target the kingdom and its East-West oil pipeline could remain mostly shut for six weeks, tightening supply routes around the Red Sea. European oil prices surge as Aramco delays some deliveries, while Russia extends its diesel export ban through September and tighter Chinese fuel stockpiles raise the prospect of export curbs. Oil’s supply-driven rally, however, begins to look overdone. The US 10-year Treasury yield tops 5% ahead of the Federal Reserve decision, with traders pricing in more than a 90% chance of a rate hike. Bloomberg Economics says Kevin Warsh could leave another hike in play as the Fed is seen potentially raising rates despite pressure from Trump. Markets await the decision as Bessent prepares to meet his Chinese counterpart, with tariffs, US energy and agricultural exports and differences over AI expected on the agenda. Bitcoin suffers its biggest drop since June after the US Senate blocks a bill, while Be
Tags: Abeer Abu Omar, Africa, Aramco, Bloomberg, Bloomberg News, Bloomberg TV, Bloomberg Television, Bonds, China, David Savage, Donald Trump, Economy, El Nino, Ethiopia, Federal Reserve, Friedrich Merz, Guy Wolf, Iran, Israel, Japan
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