Daily Update — October 7, 2026
Clean Energy Trends; El Niño Economic Impacts; and Middle East Data Centers
Today is Wednesday, October 7, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Expansion
Listen: Talking clean-energy investment trends with ACORE
In this episode of the “EnergyCents” podcast, Lesley Hunter, senior vice president of policy and engagement at the American Council on Renewable Energy (ACORE), joined hosts Hill Vaden and Sam Humphreys to discuss financing trends in the clean energy economy. They also discussed how the sector is weathering changes in federal policy support.
ACORE is a Washington, DC-based nonprofit that brings together partners in finance, policy and technology to advance US clean energy initiatives.
Economy
Listen: Super El Niño: How Weather Shocks Ripple Through the Global Economy
A potential super El Niño could become a global supply-side shock, disrupting food production, energy systems, mining, transport and trade while adding to inflation and political instability.
In this episode of “The Decisive” podcast, adapted from a Sept. 9 S&P Global Market Intelligence client webinar, experts examined how extreme weather could compound existing pressures across the Asia-Pacific region, sub-Saharan Africa, Latin America and the wider global economy.
Artificial Intelligence
Middle East Data Centers: How Telcos Fuel The AI Boom
AI is fueling a fresh wave of investment in data centers, with hyperscalers continuing to increase spending and reinforce the sector's long-term growth outlook. S&P Global Ratings expects hyperscalers’ aggregate capital expenditure to reach $1.3 trillion globally in 2027, with cumulative spending set to exceed $7 trillion by 2030. Still, risks for owners, operators and investors vary across facilities and financing sources.
S&P Global Ratings expects the UAE and Saudi Arabia to lead growth in the Middle East and add about 2-3 gigawatts of IT power to the region's data center market by 2030. These additions represent less than 2% of IT power additions globally over 2026-2030 — with about 70% of new data center capacity coming from the US and Canada — but account for an over 80% regional share, according to data from 451 Research by S&P Global.
In case you missed it
- Iraqi Oil Tankers aims to purchase and own crude oil tankers, allowing it to ship crude beyond the Strait of Hormuz rather than offloading it to buyers at Basra port, state-run Iraqi News Agency reported, citing Ali Qais, the company's director general.
- Consumer spending has exceeded S&P Global Ratings’ expectations since the onset of the Middle East war, but factors including inflation pressures and supply chain disruptions risk eroding this resilience.
- On Sept. 21, Greece and Iceland crossed important thresholds in S&P Dow Jones Indices’ global equity benchmark. Greece was reclassified as a developed market after a 12-year hiatus, while Iceland was upgraded to an emerging market.
Upcoming events
- Navigating Mexico: Trade Tensions, Tariffs, and New AI Tailwinds | October 8 (Webinar)
- Compass Series 2026, Baltics: Mapping Energy Expansion with Sustainability | October 22 (Riga, Latvia)
- Africa Summit 2026 | November 10-11 (Lagos, Nigeria)