Gulf oil exports surpass prewar levels despite escalating tanker attacks According to data from Kpler, oil shipments through the Strait of Hormuz and alternative routes across the Middle East averaged more than 24 million barrels a day last week, surpassing prewar levels of 23.3 million. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Macron secures Gulf diesel supplies as France grapples with fuel costs, unrest France now has commitments for 295,000 metric tons of diesel per month from the Gulf, accounting for just over 10% of the European country’s consumption. Bahrain
Analysis As Iran’s oil lifeline runs dry, can it outlast Trump's economic siege? The country's last barrels of crude stockpiled beyond the reach of a US naval blockade fell to zero in October, raising the stakes for Tehran amid mounting economic distress. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Analysis How much oil can cushion another Middle East supply shock? Global oil inventories stood at 3.35 billion barrels in October, the lowest level on record since January 2017, according to Kpler. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Hormuz attacks spike after US airstrike on Iran-linked tanker By Jared Szuba In Washington, DC, reporting on defense, national security, military
UAE to help Germany reduce dependence on Russian gas Qatar is also reportedly close to supplying the European country with natural gas amid the Ukraine war. United Arab Emirates
Iraqi prime minister emphasizes Iraq's role in regional stability at UN The Iraqi prime minister highlighted Iraq's main issues and the country's regional and international significance at the UN General Assembly. Iraq
Natural gas profits finally put Israel's wealth fund into business After four disappointing years, Israel’s wealth fund, based on tax revenues from natural gas companies, has enough money to begin making investments. Israel
Israeli natural gas revenues boom With a projected increase in output, Israel will have the opportunity to boost exports to Europe. Israel
Dubai supplier to replace coal with natural gas in bid to reduce carbon emissions The Abu Dhabi National Oil Company signed an agreement to provide Dubai with natural gas, which will be used to generate electricity. Natural gas is a relatively clean fuel but does lead to carbon emissions. United Arab Emirates
Why Hezbollah won't torpedo Lebanon's maritime border talks with Israel Israeli sources believe that Hezbollah Secretary-General Hassan Nasrallah realizes how important it is for economically failing Lebanon to reach an agreement with Jerusalem on its maritime border and the extraction of natural gas. Israel
Energy, dams boost Egypt’s clout in Africa Egypt has emerged as a regional energy power in recent years and is using its electricity and gas surpluses and experience in building dams to boost its foothold in Africa. Egypt
Oil prices fall following Saudi-backed OPEC+ production cut The decrease in production could be a message from Saudi Arabia to the US over the Iran nuclear deal. Legacy: Gulf
Oil spill darkens Egyptian tourist town Ahead of the Cop27, an oil spill in Egypt highlights the country’s inability to deal with environmental disasters. Egypt
On visit to Algeria, France’s Macron advances post-colonial reconciliation The presidents of France and Algeria signed Aug. 27 a pact for a new partnership between the two countries, announcing the setting up of a joint historian commission to explore the colonial period, alleged French crimes and the bloody eight-year independence war. Algeria
Israel to invest more in Egyptian renewable energy projects Israel plans to invest more in the field of power generation with renewable energy in Egypt, after two Israeli companies announced a major plan to carry out several projects to this effect. Egypt
UAE non-oil trade increases as Gulf state seeks reduced oil dependence The news follows trade agreements the Gulf state made with Israel and India. United Arab Emirates