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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

ADEM ALTAN/AFP via Getty Images

Turkey’s middle class priced out of home ownership

Buying a home has become an elusive dream even for middle-class professionals in Turkey as the country’s economic woes erupt into a perfect storm over the housing market.

A social worker plays an educational game with a homeless child inside one of the mobile units run by the Egyptian authorities and used as part of the "Atfal bala ma'wa" (Children Without a Home) social program, Abbasia district, Cairo, Egypt, June 22, 2020.

Egyptian startups reimagine mental health services in Arab-speaking world

In an attempt to fill some of the most urgent gaps in mental health issues across the region, online platforms have developed tech-enabled alternatives to offer services that are safe, stigma-free and help raise awareness — although concerns about accessibility persist.

Gaming in Israel

Israel's gaming industry continues expansion

ADNOC headquarters (Abu Dhabi National Oil Company) office complex (C).

Affiliate of Abu Dhabi oil company to list on stock exchange

Borouge is ADNOC’s joint venture with Austrian petrochemical firm Borealis AG.

United Arab Emirates

Turkish Airlines Airbus A321 takes off.

Airport wars flare up in Turkey amid claims of Gulf acquisition

A row over the fate of Istanbul’s iconic Ataturk Airport has escalated in Turkey amid opposition claims that a plan to demolish the facility is designed to gratify Gulf investors interested in operating the city’s newer airport.

Obsolete Turkish lira banknotes.

Turkish lira continues to fall

Turkey is in the midst of an economic crisis marked by high inflation.

Adam Lucente

By Adam Lucente

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

Russian tourists are seen swimming and snorkeling in the Red Sea resort of Sharm el-Sheikh, Egypt, Sept. 29, 2021.

Egypt looks to Gulf to revive tourism sector affected by Russian-Ukrainian war

Egypt is seeking to increase Arab tourism from the Gulf at a time when this vital sector has struggled to overcome the recession it suffered with the Russian invasion of Ukraine.

YAMIL LAGE/AFP via Getty Images

Cuba seeks food security help from Iranian private sector

Iran and Cuba also pledged to boost trade during a summit in Tehran.

Egypt's President Abdel Fattah al-Sisi presents his national statement.

Egypt invests more than $1 billion in green projects ahead of COP27

Egypt is expanding its implementation of green projects ahead of hosting the 2022 UN Climate Change Conference.

A real estate advertising offers apartments and houses with the view on the canal, in the small coastal village of Karaburun, near Istanbul, on June 12, 2018.

Erdogan’s home loan incentives threaten to fan inflation

A further increase in already skyrocketing home prices appears inevitable in Turkey following Erdogan’s announcement of loan incentives, a move that many pundits see as pouring fuel on the inflation fire.

Egyptian men work in a bakery at a market in Cairo, on March 17, 2022.

What do rising wheat prices, India’s export ban mean for Egypt?

Egypt is seeking to import wheat from India due to the Russian war on Ukraine.

The platform of the Leviathan natural gas field in the Mediterranean Sea is pictured from the northern coastal city of Caesarea, Israel, Feb. 24, 2022.

Global energy crisis opens possibilities for Israeli natural gas

Experts say that the global energy crisis is exactly the moment when Israel must expand its natural gas export quotas.