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In this picture obtained from Iran's ISNA news agency on May 4, 2026, the Iran-flagged tugboat Basim sails near a ship anchored in the Strait of Hormuz off Bandar Abbas in southern Iran.

What to know about Iran's 'Persian Gulf Strait Authority' to control Hormuz traffic

The establishment of an entity seeking to control maritime transportation in the Strait of Hormuz is the latest sign that Iran wants to formalize authority in the strategic waterway.

Egyptian Prime Minister Mostafa Madbouly speaks in Beirut on Dec. 19, 2025.

Egypt ramps up energy investments amid war-driven price pressures

Prime Minister Mostafa Madbouly said Wednesday that Egypt has secured commitments exceeding $19 billion from international oil companies over the next three years.

Tankers are seen at the Khor Fakkan Container Terminal in the Sharjah Emirate, along the Strait of Hormuz on June 23, 2025. (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Few ships pass Hormuz despite US efforts to break Iran's hold

Only four commercial vessels had transited the strait in the 24 hours before Tuesday morning, according to ship-tracking data.

Latest News

Iran strikes UAE’s Fujairah oil hub as US pushes Hormuz reopening

Meysam MIRZADEH / TASNIM NEWS / AFP via Getty Images

United Arab Emirates

Analysis

MENA wheat importers face food security risks as Hormuz crisis festers

Crops of wheat and barley in Terbol village on May 10, 2022, in Bekaa Valley, Lebanon.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Oman enters Gulf AI race with new special economic zone in Muscat

Haitham AL-SHUKAIRI / AFP via Getty Images

Oil surges past $120 to war-time high as Trump rejects Iran overture

A pumpjack stands idle in the Huntington Beach oil field, with port cranes visible in the distance, on April 23, 2026, in Huntington Beach, California.

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

Jack Dutton

Chief Business Correspondent

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

Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Vanessa Ghanem

In Dubai, reporting on business, energy and politics

Francisco Serrano

In Lisbon, reporting on North Africa business

Security forces are seen during a pro-government rally on January 12, 2026, in Tehran, Iran.

Can Iran’s promised economic reforms quell unrest?

The Iranian government has made several economic pledges to protesters, though some carry risk of increasing inflation further.

The skyline of Riyadh, Saudi Arabia, on Oct. 31, 2023.

MidEast VC funding hits record $3.8B in 2025, driven by strong Gulf showing

Many emerging venture markets contracted in 2025, but the Middle East and North Africa bucked the trend.

A pump jack stands near an oil spill at a facility in Venezuela.

Analysis

How Trump’s Venezuela oil grab could test OPEC’s power, Mideast energy models

Over the longer term, Washington’s bid to bring the world’s largest proven crude oil reserves firmly into its orbit raises questions for OPEC's strategy and the outlook for big-spending Gulf producers.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

ANWAR AMRO/AFP via Getty Images

Lebanon revives offshore gas push with new approval for Total-led consortium

Beirut has approved a new exploration permit allowing international energy companies to begin work on an offshore block bordering Israel’s maritime border.

FAYEZ NURELDINE/AFP via Getty Images

Saudi SABIC sells $950M in overseas assets amid global chemicals slump

The global chemicals industry is facing a slowdown due to high energy prices, stagnant economic growth, investment shifts and trade tensions.

FAYEZ NURELDINE/AFP via Getty Images

Saudi Arabia to open stock markets to all foreign investors in February: What to know

The Saudi Capital Market Authority announced that it would remove restrictions that have historically limited foreign investors' access to the country’s Tadawul stock exchange.

Saudi Crown Prince Mohammed bin Salman is greeting Syria’s interim president, Ahmad al-Shara, left, during his arrival on Sunday at the royal palace in Riyadh, Saudi Arabia

Syria's Sharaa, Saudi crown prince discuss economic ties as SDF clashes flare

Syria is facing a number of security challenges amid sectarian tensions as it rebuilds its economy.

The Iranian-flagged oil tanker Fortune is docked at the El Palito refinery after its arrival to Puerto Cabello in the northern state of Carabobo, Venezuela, on May 25, 2020.

Analysis

Venezuelan crisis unlikely to impact MENA crude exporters in short term

Oil prices inched up on Monday as global oversupply concerns outweighed output disruption fears over the upheaval in Venezuela.

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

This photograph taken on April 26, 2023 shows the construction of the Russian-built Akkuyu Nuclear Power Plant in Mersin Province. - Turkey's President Recep Tayyip Erdogan will try to offset his absence from the campaign trail weeks before crucial elections by unveiling the nuclear plant by video link. (Photo by OZAN KOSE / AFP) (Photo by OZAN KOSE/AFP via Getty Images)

Analysis

Mideast nuclear energy goals tested as Turkey, Saudi Arabia eye breakthroughs

Though the region’s nuclear energy boom was supposed to be in full swing by 2025, key projects have all fallen behind schedule or fizzled entirely — but new momentum could be emerging.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Railroad tracks by a quarry at the Jubail Industrial City, north of Dammam, in Saudi Arabia's Eastern province, overlooking the Gulf, Dec. 11, 2019.

Saudi Arabia awards record number of mining licenses in Vision 2030 push

Riyadh estimates the country’s mineral resources to be worth $2.51 trillion.

Yasir Al-Rumayyan, head of the Public Investment Fund, Saudi Arabia's influential sovereign wealth fund, addresses the opening ceremony of the Future Investment Initiative, in Riyadh, on Oct. 28, 2025.

Gulf accounted for 43% of global sovereign wealth fund investment in 2025

Saudi Arabia's Public Investment Fund was the world's highest spending sovereign wealth fund in 2025, investing some $36.2 billion.

A picture taken at the port of Dilovasi, outside Istanbul, on June 20, 2019, shows the drilling ship Yavuz scheduled to search for oil and gas off Cyprus.

Turkey eyes offshore energy pact with Syria in 2026 amid East Med isolation

Turkish Energy Minister Alparslan Bayraktar has offered up details on a deal with Syria that could unsettle regional rivals in the gas-rich Eastern Mediterranean.