Economy and trade

Amir Hossein KHORGOOEI / ISNA / AFP via Getty Images

Oil tops $90 as Iran warns Hormuz 'will not be safe'

Tensions escalated further after Iran's Islamic Revolutionary Guard Corps vowed on Monday that not a "single drop" of oil or gas would pass through the Strait of Hormuz.

Director of European Affairs and Customs at La Poste Groupe Christelle Defaye-Geneste (L) and Morocco's Minister of Industry and Trade Ryad Mezzour (R) sign agreements between La Poste Groupe and Barid Al-Maghrib, alongside France's Prime Minister Sebastien Lecornu (C-L) and his Moroccan counterpart, Aziz Akhannouch, during a meeting in Rabat on July 16, 2026.

Explainer

France-Morocco ties get an energy jolt as historic heatwaves pressure Europe

During Prime Minister Sebastien Lecornu's visit to Morocco on Thursday, the two countries spotlighted plans to explore an electricity interconnection that could one day deliver Moroccan renewable power to France.

A ship sails off the coast of Ajman on July 10, 2026.

Interview

Why Strait of Hormuz no longer rattles oil markets as much: IMF

The fund's Middle East director, Jihad Azour, told Al-Monitor that the big Gulf energy producers now have more capacity to absorb the shock.

Jihad Azour

Jihad Azour

Director of the Middle East and Central Asia Department at the International Monetary Fund

A man holds a Syrian flag across the street from the White House after Syrian President Ahmed al-Sharaa met with President Donald Trump at White House in Washington, on Nov. 10, 2025.

Syria, US hold first business forum since sanctions relief: What to know

The one-day forum in Damascus was organized by Syria’s Ministry of Economy and Industry and the US-Syria Business Council, which was established in Washington last June to advance trade and investment between the two nations.

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Analysis

Saudi-UAE payment blocks could imperil billions in trade: What to know

A man crosses a street while returning home from work, in Dubai on June 23, 2026. (Photo by FADEL SENNA / AFP via Getty Images)

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Explainer

How Macron seeks to carve out France's role in new Syria

Syrian President Ahmed al-Sharaa (L) welcomes France's President Emmanuel Macron for a joint press conference in Damascus on July 7, 2026.

How Iran war could impact oil markets in 2027

Igor IVANKO / AFP via Getty Images

Why US strikes on Iran rail bridge signal shift in Hormuz conflict

Majid Saeedi/Getty Images

Syrian President Ahmed al-Sharaa (R) shakes hands with France's President Emmanuel Macron following a joint press conference in Damascus on July 7, 2026.

Explainer

French energy, shipping giants explore Syria deals during Macron visit

The two countries signed preliminary pacts spanning transport, healthcare, banking, infrastructure and development on Tuesday, even as twin explosions in the capital underscored the fragile investment environment.

Farmers roast harvested wheat using fire in a field on the outskirts of Aleppo, Syria, on May 18, 2026.

Analysis

How Syria’s wheat fields turned into first battleground over reconstruction

A battle over wheat prices could be the first political contest over who reconstruction will benefit.

Haddon Barth

By Haddon Barth

An aerial view shows port of the western Syrian port city of Latakia, on Dec. 18, 2024.

Analysis

Can a UAE-backed Syria-Iraq corridor become Gulf's next trade route?

On June 26, Emirati and Syrian officials discussed plans for a logistics corridor connecting Syrian ports to Gulf markets via Iraq.

In Bristol, reporting on regional business, climate change, AI, tech

Crude oil tankers, bulk carriers and vessels sit anchored around Qaboos Port on June 22, 2026, in Muscat, Oman.

Oil falls below $71 as US-Iran talks continue, Gulf exports rebound

Qatar’s Foreign Ministry spokesperson said in an X post on Wednesday that Iran and the United States had made "positive progress."

Omar Albaw / Middle East Images / AFP via Getty Images

Kuwait's Zain eyes $1.5B mobile network in postwar Syria: What to know

The Kuwaiti company is planning to invest more than $1.5 billion in Syria after securing a license to operate there, Bloomberg reported Tuesday.

French President Emmanuel Macron (L) and Oman's Sultan Haitham bin Tarik pose during a meeting with business leaders in Paris on June 29, 2026.

Oman's sultan meets Macron in first France visit since 1989: What to know

French President Emmanuel Macron has been pushing against any form of toll for the Strait of Hormuz.

AFP via Getty Images

Traffic plummets through Strait of Hormuz after Iran, US trade fire

Shipping through the Strait of Hormuz had recovered somewhat before renewed fighting between Iran and the United States saw traffic drop sharply over the weekend.

A student attends a training seminar at the Tourism Ministry Training center in the city of Riyadh on August 30, 2022.

Interview

Saudi labor localization will take ‘generation or two': Armada CEO

Around 70% of Saudi Arabia's population is 35 years old or younger, according to the kingdom’s General Authority for Statistics, providing ample opportunity for an educated and technology-savvy national workforce in the coming decades.

Olivier Badard

CEO of Armada Holding

A tourist boat passes near crude oil tankers, bulk carriers, and other vessels anchored off Port Sultan Qaboos in Muscat, Oman, June 19, 2026.

Analysis

Why the Hormuz oil shock never became an energy catastrophe

The US-Israel-Iran war produced a historic oil supply shock but not a severe global economic crisis, due to ample prewar supplies, China's energy pivot and strategic reserve releases.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Elke Scholiers/Getty Images

Oil falls below $74 as Hormuz traffic recovers after Iran war

Brent crude, the international benchmark for oil prices, was trading at $73.81 a barrel at 10:40 a.m. EDT, down 4.2% from Tuesday's close.

A picture shows the four seasons hotel in Beirut with the snow covered mountain of Sannine in the background on March 8, 2019.

Explainer

Lebanon advances controversial $500K golden visa law: What to know

While its supporters say the scheme would help Lebanon's economy recover, critics say it could offer a channel for corruption.

Qatar's Energy Minister and CEO of QatarEnergy Saad Sherida al-Kaabi speaks during a press conference in Doha on June 22, 2026.

Explainer

Qatar blast underscores challenges in race to restart Gulf energy flows

The deadly explosion marks an early test of Gulf efforts to revive oil and gas production following a historic energy supply shock caused by the US-Israel-Iran war.