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- Brent Crude Slipped Below $100; Delivery Hero Stock Surged 9.8%; Fresha Valued Above $1B
Brent Crude Slipped Below $100; Delivery Hero Stock Surged 9.8%; Fresha Valued Above $1B
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Tuesday, May 26, 2026
Happy Tuesday everyone!
Brent crude dropped below $100 a barrel on signs of progress in US-Iran negotiations regarding the Strait of Hormuz, though President Donald Trump cautioned that talks are not yet finalized. In equity markets, Delivery Hero shares jumped 9.8% to €36.88 in Frankfurt as investors anticipate a higher counter-bid to Uber’s initial €10 billion offer, amid competing interest from DoorDash for its Middle Eastern unit, Talabat. Concurrently, UAE-founded wellness platform Fresha secured a $80 million investment from KKR, officially pushing its valuation past $1 billion while processing $15 billion in annual transactions globally.
Markets
EGX30 | 52,658.75 | 0.38% |
DFMGI | 5,692.82 | Closed |
ADX | 9,701.92 | 0.68% |
Tadawul | 11,027.54 | 0.38% |
Oil Prices Drop as US-Iran Diplomacy Progresses
What Is It About?
International oil prices fell as traders reacted to initial progress in talks between Washington and Tehran. Brent crude dipped under $100 a barrel following signs that the Strait of Hormuz might gradually reopen to commercial traffic. However, President Donald Trump tempered expectations by stating that the discussions are not yet finalized and should not be rushed.
Why It Matters?
The Strait of Hormuz is a critical chokepoint for global energy supply. While the drop below $100 brings some relief to energy-importing nations, physical distribution networks remain highly strained. Shipping companies are still navigating alternative, more expensive paths, meaning retail fuel prices may take weeks to reflect the current market dip.
What’s Next?
Traders are watching for a formal joint statement from negotiators. Until a binding agreement is signed, energy markets will remain highly sensitive to daily political comments, with analysts expecting high volatility to continue through the next quarter.
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Delivery Hero Stock Climbs on Higher Takeover Expectations
What Is It About?
Shares in Delivery Hero SE surged to €36.88 in Frankfurt, sitting roughly 13% above Uber Technologies’ indicative buyout offer of €33 a share. Investors are bidding up the stock because Uber's proposal values the firm at €10 billion ($11.6 billion) but offers no premium over its recent baseline price, signaling that a higher bid will be necessary to close the purchase.
Why It Matters?
The low-premium bid from Uber leaves the door open for competing corporate buyers. DoorDash has already expressed interest in Delivery Hero’s Middle Eastern business, Talabat, though it has not made a formal offer. This creates a complex dynamic where the company's regional pieces might be worth more if sold separately to different tech platforms.
What’s Next?
The ball is now in Uber’s court to see if it will raise its price floor toward €40 a share, as demanded by several large institutional shareholders. Watch for whether DoorDash capitalizes on the market friction to make a targeted play for the Talabat division.
Fresha Reaches Unicorn Status via KKR Investment
What Is It About?
B2B marketplace Fresha has closed an $80 million primary growth investment round led by global private equity firm KKR. The funding round pushes the software firm’s total capital raised to $285 million and sets its valuation above $1 billion. Founded in the UAE in 2015, the platform now acts as an operational dashboard for 130,000 businesses across 120 countries.
Why It Matters?
Fresha's rise highlights the strength of vertical software networks that bundle booking, payment processing, and marketing tools for specific service industries. Already running a profitable model, the company processes $15 billion in annual gross merchandise volume. Its new status shows that software businesses launched in the Gulf can successfully scale into global tech leaders.
What’s Next?
The company will use the $80 million injection to expand its market share in North America and Europe. It also plans to build new automation and data analytics features to help salon owners manage their staff schedules and inventory levels more efficiently.
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🔍In other news…
🦄 World of Startups
Dubai gifting marketplace Udora secures $10M
Saudi fashion platform Aya secures $7m to scale real time production
Jordan-based Tamatem has acquired Istanbul-founded Playable Factory, strengthening its push into performance marketing and user acquisition.
Egypt’s Lucky Raises USD 23M Series B. Its Consumer Credit Model is Expanding Into North Africa
“We Got Funded!” Maison Safqa Raises US$620,000 in Pre-Seed Funding to Expand Luxury Flash-Sale Platform Across GCC
Via Separations, US-based deeptech startup, raised $36M in funding from Aramco Ventures (Saudi), and other global investors.
