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Economy & Business

A general view of Navigator Terminals, an oil storage depot along the River Thames, London, March 10, 2026.

Oil plunges 8% after Trump extends Iran ultimatum

In a Truth Social post, US President Trump said that Washington and Tehran “have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East.”

Indian vessel 'Nanda Devi' carrying liquefied petroleum gas (LPG) arrives at Vadinar Port in the Jamnagar district of Gujarat state on March 17, 2026 after Iran allowed it to pass through the Strait of Hormuz, a key energy corridor that remains disrupted by the Middle East war.

Iran’s Hormuz choke hold leaves West divided as energy markets reel

Between March 1 and March 19, there were only 114 crossings of the strait, according to analytics firm Kpler — 95% less than prewar traffic.

Excess gas is burned at the oil refinery in Israel's northern city of Haifa late on March 19, 2026.

Analysis

Iran expands energy targets beyond Gulf as Red Sea and East Med come into play

In retaliation for strikes on its energy sector, Tehran's campaign against regional oil and gas infrastructure has intensified and broadened to include Saudi Arabia's Yanbu port and an Israeli refinery in Haifa.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

US Treasury Secretary Scott Bessent arrives to attend an event in the East Room of the White House, Washington, DC, March 5, 2026.

US weighs easing Iran oil sanctions amid Hormuz crisis: What to know

A possible move by the Treasury would reduce pressure on Iranian crude as Washington seeks to offset supply losses tied to Iran's virtual closure of the strait.

Latest News

Analysis

How Iran's strike on Qatar gas field could impact LNG market for years

A picture of Qatar Energy's operating facilities on March 3, 2026 in Ras Laffan Industrial City, Qatar.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

After 35% surge, how far could Gulf disruptions push European gas?

In this aerial view, Storage tanks at Grain LNG importation terminal, operated by National Grid Plc sit near the River Medway in the Thames Estuary on March 12, 2026, in Isle of Grain, England.

UAE steps in to support banks as war pressure builds: What to know

AFP via Getty Images

United Arab Emirates

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

A general view of the Egyptian Exchange, Cairo, Egypt, Jan. 6, 2013.

Islamic finance grows despite global economic turmoil

OZAN KOSE/AFP via Getty Images

Ankara forces companies to sell hard currency as circle tightens

The Turkish government’s latest loan restriction may help the embattled lira recover to some extent, but not without the risk of damaging side effects.

Morocco drought

Morocco invests in desalination plants as drought worsens

Located in an arid zone characterized by rain disruption, Morocco seeks solutions to solve water scarcity and ensure supply for domestic, industrial, and agricultural purposes

Osama Rabie, chairman of the Suez Canal Authority, speaks during a press conference after the release of the Panama-flagged MV Ever Given container ship, in the canal's central city of Ismailia, Egypt, July 5, 2021.

Suez, Panama canals sign cooperation agreement to boost investments

The Suez and Panama canals’ economic zones seek to attract more investments through a cooperation agreement to exchange experiences and information.

Boxes of coronavirus vaccines are stacked on the tarmac after the first batch arrived at Khartoum airport on an Emirates Airlines flight, Khartoum, Sudan, March 3, 2121.

Western creditors suspend debt relief to Sudan over coup as country’s economy sinks

The Paris Club of major creditors announced the suspension of a 2021 agreement with the now-deposed transitional government to restructure the large foreign debt of Sudan.

Russian Foreign Minister Sergey Lavrov (L) and Egyptian Foreign Minister Sameh Shoukry walk prior to talks of representatives of the Arab League states, Moscow, Russia, April 4, 2022.

Egypt plans to use ruble in trade with Russia

Egypt and Russia seek to switch to local currencies in their trade transactions to overcome obstacles created by Western sanctions on Moscow over the Ukraine war.

People queue to buy olive oil, which is sold cheaply by the Agricultural Products Office, Ankara, Turkey, Feb. 17, 2022.

Egypt, Turkey hold firm on interest rates

Turkish President Recep Tayyip Erdogan is adamantly opposed to raising interest rates, but some observers expected Egypt to raise rates in line with Gulf banks and the US Federal Reserve.

Egypt industry

Egypt, Saudi Arabia sign economic agreements worth $7.7 billion

Saudi Arabia intends to invest about $8 billion in various economic sectors in Egypt, which will ease the Egyptian economy's wheels amid the global crisis.

An employee packs bread at a bakery on March 23, 2022, in Istanbul, Turkey.

Turkey says no evidence Ukrainian grains stolen by Russia reached its shores

Turkey is being lobbied by the UK to discuss the safe shipping of Ukrainian grain due to looming global shortages but denies any has reached its ports.

A visitor walks past a Dubai billboard at the Arabian Travel market exibition in the Gulf emirate, May 17, 2021.

Tourism to Dubai up nearly 200% this year

The Expo 2020 Dubai provided a big boost as the Emirati city continues to bounce back from the coronavirus pandemic.

Egypt's President Abdel Fattah al-Sisi (L) and Russia's President Vladimir Putin (R).

Egypt participates in Russian economic forum

Egyptian President Abdel Fattah al-Sisi delivered a virtual speech at the opening session, stressing the need to find "effective solutions" to the global economic crisis.

Palestine technology

Palestinians call out PayPal for discrimination

PayPal's refusal to offer services in Palestine is impeding the region's economic growth and preventing many freelance knowledge workers from receiving digital payments.