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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

Israeli passengers arrive from Ukraine via the border with Romania on an Israeli Israir flight at Ben Gurion Airport in Lod, near Tel Aviv, Israel, March 1, 2022.

Israel expects post-COVID tourism rebound this summer

Israeli experts do not expect tourism to reach this summer the record level of 2019, but they certainly notice a trend of increase on both outbound and incoming tourism.

Women buy bread from a local bread stand in Al Fustat neighborhood on May 2, 2022, in Cairo, Egypt.

Egypt rejects World Trade Organization agreements on global food crisis

Egypt objected to the WTO agreements to alleviate the global food crisis, as it refuses to be forced to export food when it is grappling with its own food crisis.

Russian Foreign Minister Sergey Lavrov (L) talks with his Azerbaijani counterpart Elmar Mammadyarov (C) and Iranian counterpart Mohammad Javad Zarif (R)in Baku on Aug. 8, 2016.

Iran, Russia to establish trade centers

The two countries will focus on energy-related trading and establishing a north-south corridor to rival the Suez Canal.

FRANCK FIFE/AFP via Getty Images

Saudi Arabia’s NEOM to build renewable-powered desalination plant

The controversial planned city will partner with a Japanese and a French company in the endeavor.

SAID KHATIB/AFP via Getty Images

Crisis-stricken Hamas borrows from local banks

The Hamas movement has been forced to borrow from the local banks to fund the salaries of its 45,000 employees amid low local revenues, costly subsidies and declining Qatari financial grants.

This picture shows an aerial view of farmland near the city of al-Khankah in Qalyoubiyah province in the fertile Nile Delta agricultural region, north of Cairo, Egypt, May 28, 2021.

Egypt puts up for sale land plots for expats wishing to build cemeteries

The Ministry of Housing and Urban Communities in Egypt has put up for sale cemetery lands for Egyptians abroad in four new cities, priced in dollars, as part of the government’s efforts to counter a severe foreign currency shortage.

ASAAD NIAZI/AFP via Getty Images

Iraq connects electrical grid with Saudi Arabia

The move could help Iraq with its electricity woes and reduce energy dependence on Iran.

Turkey economy

Analysis

Turkey ‘highly vulnerable’ to liquidity pinch, says leading credit agency

Turkey, Tunisia and other countries in the Middle East could face liquidity challenges amid rising interest rates worldwide.

Adam Lucente

By Adam Lucente

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

Traders work on the floor of the New York Stock Exchange on June 15, 2022.

Israel raises interest rates, following Gulf, US

Inflation is rising throughout the Middle East and many countries' central banks are raising interest rates in response.

SAJJAD HUSSAIN/AFP via Getty Images

UAE bans exports of India-sourced wheat, restricts others

The Ministry of Economy said the decision was motivated by global supply chain disruptions as well as the recent trade agreement between the UAE and India.

Tunisia food

Tunisians watch prices of most consumer goods soar

Tunisians have seen their purchasing power plummet in recent days, amid a market shortage of basic goods, soaring prices of most consumer goods and warnings of possible nationwide protests.

Visitors look at a scale model of the city of Dubai.

Dubai real estate transactions hit 13-year high

The American commercial real estate firm CBRE released a lengthy report on the Emirati city’s real estate market.