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

This picture taken on Nov. 17, 2019, shows the Liberia-flagged container ship RDO Concord sailing through Egypt's Suez Canal.

Ukraine war drives more traffic to Egypt's Suez Canal, increasing revenues

Although Egypt is being adversely affected by the war in Ukraine, the Suez Canal is benefiting greatly from Western countries sailing into the Gulf in search of oil.

Dubai airport

Dubai airport’s passenger traffic reaches pre-pandemic levels

Air travel in the UAE has returned to normal after the industry suffered major losses due to virus-related travel restrictions.

United Arab Emirates

This photo illustration shows Chinese 100 yuan notes in Beijing on Jan. 14, 2020.

Egypt considers issuing bonds in China’s yuan

Saudi Arabia may also price oil sales in the Chinese currency.

n Emirati man follows the market's movement at the Dubai Financial Market.

UAE meets $400 million target in first bond auction

The Emirati government decided to sell bonds in dirhams to boost the local banking sector and diversify financially.

United Arab Emirates

UK Prime Minister Boris Johnson (R) and Iraqi Kurdistan Regional Government Prime Minister Masrour Barzani.

Russian ambassador to Iraq: ‘No objections’ to Kurdistan Region exporting gas to Europe

Elbrus Kutrashev spoke to the Kurdish news outlet Rudaw about plans to export natural gas from the autonomous part of northern Iraq to Europe in response to the war in Ukraine.

KARIM SAHIB/AFP via Getty Images

Passenger traffic at Abu Dhabi airports triples, aided by travel from India

The quarterly results from airports in Abu Dhabi indicate that the air travel industry in the United Arab Emirates has recovered from the COVID-19 pandemic.

United Arab Emirates

Palestine COVID

World Bank praises Palestinian easing of COVID rules, criticizes Israeli control

The international financial body recommended several governance reforms for the Palestinian Authority to increase economic growth.

Prime Minister Kyriakos Mitsotakis (L) and Heir to the Throne of Abu Dhabi Mohammed bin Zayed Al Nahyan, May 9, 2022.

UAE, Greece sign $4.2 billion agreement

The UAE and Greece have become close allies in recent years.

United Arab Emirates

Eid Yosri, an artifact replica craftsman, poses for a photo with a mini sarcophagus of his own creation.

Egypt, EU sign development grants worth 138 million euros

The European Union has provided Egypt with numerous grants in recent years, while also criticizing the country on some human rights issues.

JACK GUEZ/AFP via Getty Images

British company announces new gas discovery off Israeli coast

Israel’s relatively new natural gas supply plays a major role in the country’s relations with its neighbors in the eastern Mediterranean Sea.

French rice farmer Bernard Poujol holds a stalk of rice in a rice field, Saint Gilles, France, Oct. 12, 2017.

Egyptian scientist creates new rice variety that requires less water

An Egyptian scientist and head of the National Rice Development Project at the Ministry of Agriculture invented a new type of rice that does not need much water, after the Egyptian government announced that the country is suffering from water poverty.

People walk past Saint-Vincent de Paul Cathedral on Habib Bourguiba Avenue in Tunis on Dec. 14, 2021.

International pressure compounds Tunisian economic crisis

There are international and local concerns over the political and economic situation in Tunisia, which is hoping for a deal with the IMF in return for implementing reforms that are rejected by the powerful UGTT labor union.