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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

An electronic sign on a building shows the price of Brent crude oil in Hong Kong, March 9, 2022.

Brent crude falls nearly 10%, OPEC basket drops slightly

Saudi Arabia has acted to keep prices high recently against the wishes of the US.

An Algerian employee prepares bread at a bakery in the capital Algiers, on Feb. 27, 2022.

War in Ukraine tests Algeria’s wheat reserves amid inflation, drought

Wheat supplies should be sufficient for the rest of 2022. But the country will eventually be compelled to secure additional quantities at higher prices

StoreDot's headquarters in the Israeli coastal city of Herziliya on Feb. 16, 2021.

Fundraising by Israeli startups expected to decline during 2022

A survey of Israeli startup companies shows a significant drop in fundraising.

A general view of the Egyptian Stock Market in the capital, Cairo, on Jan. 6, 2013.

UAE investments boost Egyptian economy

The United Arab Emirates is seeking profits by investing $2 billion in Egyptian state-held stakes in some companies.

Korea UAE

Abu Dhabi, South Korea pledge to boost economic relations

South Korean entities have signed major deals with Egypt and Saudi Arabia recently.

United Arab Emirates

An employee counts banknotes at a currency exchange shop, Cairo, Egypt, Nov. 3, 2016.

Fitch gives Egypt ‘stable’ debt rating, citing reforms

Egypt is pursuing deregulation and tax reforms to some success, but the war in Ukraine has severely hurt the country’s economy.

Georgian border guards work at the Darial Gorge (Verkhniy Lars) border crossing, March 1, 2010.

Russian invasion of Ukraine slams Turkey’s transportation industry

Traffic at the Turkish border crossings have come to a grinding halt after trucks en route to Russia, Belarus and Central Asia diverted routes to Turkey and Georgia following Russia’s invasion of Ukraine.

This picture taken on March 13, 2020, shows an aerial view of low-rise luxury housing in the residential suburb of Madinaty in Cairo.

Buyers rush to purchase Egyptian real estate as prices rise

Oman

Oman on cusp of introducing personal income tax

Income tax is now in the pipeline in Oman, and other nations in the Gulf, one of the world’s largest bastions of tax-free wages, are watching with interest.

H.M. King Abdullah II of the Hashemite Kingdom of Jordan.

Saudi Arabia sends $50 million to Jordan for budget as economy falters

The Jordanian government is working to close tax loopholes and increase its revenue collection amid its economic struggle.

LOIC VENANCE/AFP via Getty Images

UAE-India economic agreement to lower tariffs, duties in bid to boost trade

India is one of the UAE’s largest trading partners, with oil, jewelry and textiles forming a bulk of the trade.

United Arab Emirates

Picture of the Tel Aviv Stock Exchange building, Jan. 16, 2011.

Tel Aviv Stock Exchange continues to reach historic highs

The TA 125 index’s growth is being led by banks and not Israel’s large tech sector.