Oil Prices Rise as Trump Downplays Iran Peace Talks | Horizons Middle East & Africa 7/22/2026

Global markets opened higher as technology stocks extended their rally, but investors remained focused on the Middle East, where escalating tensions continued to support oil prices. President Trump played down the prospects for renewed nuclear talks with Iran and warned that the US would respond if shipping through the Red Sea were blocked. Secretary of State Marco Rubio also questioned Iran’s willingness to negotiate, while Defense Secretary Pete Hegseth told lawmakers the conflict has already cost the United States more than $37.5 billion. Energy markets remain on edge as Gulf economies warn that a prolonged conflict could damage investment and economic growth, with regional allies reportedly growing frustrated by the continued escalation. We also examine South Korea’s eighth consecutive trading session with sidecar market controls, Japan’s renewed warnings over the weakening yen after it moved beyond ¥163 per U.S. dollar, and Nigeria’s decision to keep interest rates unchanged at 26.5% because of rising geopolitical risks. In corporate and technology news, SpaceX is preparing a share sale that could value the company at around $1.16 trillion, Super Micro reported a growing order backlog driven by AI demand, and GE Aerospace CEO Larry Culp discussed the industry's multi-year growth outlook. We also cover President Trump’s reciprocal trade agreement with Jordan, new tariffs targeting generic drug manufacturers, his meeting with Lebanese President Joseph Aoun, the restoration of direct flights between the US and Lebanon after four decades, Israel’s withdrawal from several Lebanese towns, and comments on Hezbollah. Elsewhere, political unrest intensified in India as a key rival of Prime Minister Narendra Modi was removed by police during student protests. Gabon plans to raise $1.5 billion through external borrowing to support its budget, and Novo Nordisk announced plans to expand access to its oral weight-loss treatment across Africa. Guests includes Rachel Ziemba, Ziemba Insights Founder; Parisha Saimbi, BNP Paribas FXLM Strategist EM Asia; David Wood, International Crisis Group Lebanon Senior Analyst; and Larry Culp, GE Aerospace Chairman & CEO. Chapters: 00:00:00 - Introduction 00:05:50 - Rachel Ziemba, Ziemba Insights Founder 00:12:25 - Parisha Saimbi, BNP Paribas FXLM Strategist EM Asia 00:17:25 - Trump's Tariffs Target Generic Drug Manufacturers 00:27:35 - Trump holds bilateral meeting with Lebanese president 00:31:00 - David Wood, International Crisis Group Lebanon Senior Analyst 00:37:41 - Nigeria Holds Interest rates on Iran war risks 00:42:16 - Larry Culp, GE Aerospace Chairman & CEO -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X:   / bloombergtv   Facebook:   / bloombergtelevision   Instagram:   / bloombergtv   Connect with Bloomberg Business on: X:   / business   Facebook:   / bloombergbusiness   Instagram:   / bloombergbusiness   TikTok: https://www.tiktok.com/@bloombergbusi... Reddit:   / bloomberg   LinkedIn:   / bloomberg-news   More from Bloomberg: Bloomberg Radio:   / bloombergradio   Bloomberg Surveillance:   / bsurveillance   Bloomberg Politics:   / bpolitics   Bloomberg Originals:   / bbgoriginals   Watch more on YouTube: Bloomberg Technology:    / @bloombergtechnology   Bloomberg Originals:    / @business   Bloomberg Quicktake:    / @bloombergquicktake   Bloomberg Espanol:    / @bloomberg_espanol   Bloomberg Podcasts:    / @bloombergpodcasts