Economy & Business - AL-Monitor: The Middle Eastʼs leading independent since 2012

Business and Economy Cover Image

Economy & Business

US Secretary of Energy Chris Wright speaks during 2026 CERAWeek by S&P Global energy conference in Houston on March 23, 2026.

US ramps up emergency oil flows as prices swing on Iran strike pause

US Energy Secretary Chis Wright announced Monday that the United States started releasing 1 million to 1.5 million barrels of oil per day last week from the Strategic Petroleum Reserve.

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

Latest News

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

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

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.

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

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.

A picture taken on Sept. 29, 2021, shows Russian tourists in the Egyptian Red Sea resort of Sharm el-Sheikh.

Egypt looks for upsurge in tourists from sanctions-hit Russia

Cairo and Moscow are holding talks to allow the Russian payment system MIR in Red Sea resorts.

This picture taken on Feb. 22, 2021, shows a view of vehicles in the Sayeda Aisha district of Egypt's capital, Cairo.

Egypt’s car industry suffers under dollar crisis

Car prices experienced a steep spike in Egypt over the past months as the dollar rose against the Egyptian pound and import restrictions were imposed amidst a decline in supply and a redirection of Egypt’s market shares to other countries.

Egypt's President Abdel Fattah al-Sisi (R) stands with Congolese President Felix Tshisekedi (L).

Egypt, Congo boost ties with electricity deal

Egypt and the Democratic Republic of the Congo agreed to partner in the field of electricity as part of Egypt’s plan to boost its presence in the African continent amid the stalled talks on the Grand Ethiopian Renaissance Dam crisis.

Turkey economy

Currency shocks, wild inflation mark Erdogan’s time as executive president

Turkey’s currency has lost 73% of its value against the dollar since Erdogan assumed sweeping executive powers in 2018 and remains prone to fresh shocks amid growing economic fragilities.

European Commission President Ursula von der Leyen (4th-R) poses for a group photo with the EU Commissioner for Energy Kadri Simson (6th-R), Egypt's Minister of Petroleum Tarek el-Mulla (5th-R), Israeli Minister of Energy Karine Elharrar (3rd-R) and other officials during the signing ceremony of a trilateral natural gas deal during the ministerial meeting of the East Mediterranean Gas Forum, Cairo, Egypt, June 15, 2022.

Egypt looks for boost from gas deal with Israel, EU

The EU, Egypt and Israel signed an agreement for the export of natural gas to Europe, which would reduce the latter’s dependence on Russian gas.

Saudi Minister of Energy, Industrial and Mineral Resources, Khaled al-Falih.

Saudi Arabia’s ACWA Power to develop wind project in Egypt

Wind power is slowly growing in the Middle East and North Africa, including in the oil-rich Gulf.

Jordan's King Abdullah II (L) and Saudi Crown Prince Mohammed bin Salman.

Saudi Arabia, Jordan strengthen ties with energy, mining deals

Saudi Arabia is now a major investor in Jordan.

Saudi King Salman bin Abdul-Aziz Al Saud (C) and Crown Prince Mohammed bin Salman (R) are seen receiving Egyptian President Abdel Fattah al-Sisi, Riyadh, Saudi Arabia, March 8, 2022.

Egypt, Saudi Arabia sign agreements on green hydrogen, infrastructure

The deals came during Saudi Crown Prince Mohammed bin Salman’s visit to Egypt.

This photo shows an aerial view of the southernmost tip of Egypt's Nile delta region, including the Qanater al-Khayreya Nile River barrages, north of the capital Cairo, Egypt, Oct. 15, 2021.

Egypt, France boost cooperation ahead of COP27

Egypt and France are boosting their bilateral cooperation, especially with respect to temperature-tolerant and sustainable crops, in the midst of Egypt's preparations to hold the COP27 conference at the end of this year.

A picture shows an Emirates Airlines airplane at Dubai International Airport on Feb. 1, 2021.

Middle East airlines to suffer losses again in 2022

The International Air Transport Association said that airlines in the region will fare somewhat better financially due to the return of long-haul flights.

Kazakhstan President Kassym-Jomart Tokayev is seen on a monitor during a video conference with European Council President Charles Michel at the European Council building, Brussels, Belgium, Jan. 10, 2022.

Iran, Kazakhstan boost trade relations with new railway network

Kazakhstan is a strong ally of Iran, and has helped the Islamic Republic circumvent sanctions.