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Economy & Business

NEW YORK, NEW YORK - MARCH 18: Traders work on the floor of the New York Stock Exchange during morning trading on March 18, 2026 in New York City. Stocks continued to slide at opening amid an interest rate decision by the Federal Reserve and a release of producer price index that showed wholesale prices rose more than expected in February. (Photo by Michael M. Santiago/Getty Images)

Iran oil shock hits global economy as early data signal stagflation risks

The US-Israeli war with Iran is showing measurable economic impact across the world.

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.

Latest News

Analysis

Iran expands energy targets beyond Gulf as Red Sea and East Med come into play

Excess gas is burned at the oil refinery in Israel's northern city of Haifa late on March 19, 2026.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

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

People hold up their electricity bills as they protest against high energy prices in Ankara on Feb. 9, 2022.

Turkey’s producers face tough choices after staggering energy hikes

Industrial enterprises in crisis-hit Turkey have faced energy price hikes of up to 400% over a year, atop other economic blows, and many might not survive the turmoil, experts warn.

A Palestinian boy waits for falafel at a vendor in Hebron in the West Bank, April 18, 2021.

Rise in price of falafel leaves Palestinians hangry

The price hike of a falafel sandwich, a popular street food once available to all, has stirred wide resentment amid the increase of prices of other foodstuffs.

Qatari liquefied natural gas carrier Duhail passes through the Suez Canal near the port city of Ismailia, Egypt, April 1, 2008.

Egypt breaks LNG export records with eye on Europe

The country recorded 10-year high sales in 2021 following a jump in global prices and resumption of production in its second liquefied gas facility, a flow local authorities hope to maintain as they try to become a regional hub and major player in the market.

Saudi bank

Digital bank backed by Saudi sovereign wealth fund gets approval

The D360 Bank, which aims to operate locally, will be the third digital bank in Saudi Arabia as the kingdom's diversification efforts continue.

Al-Monitor Staff

By Al-Monitor Staff

Intel HQ

Intel acquires Israeli tech firm

The Silicon Valley tech giant has a large presence in Israel, and has acquired several Israeli companies in recent years.

Al-Monitor Staff

By Al-Monitor Staff

A man counts Egyptian pounds at a currency exchange shop, Cairo, Egypt, Nov. 3, 2016.

Standard Chartered eyes churning out profits from Egypt

Egyptian authorities are betting on Standard Charter's expertise to boost online banking and stoke competitiveness.

LOUAI BESHARA/AFP via Getty Images

How diamonds became Syrians' best friends

Syrians have been buying diamonds instead as the global prices of gold continue to increase.

Air Arabia airlplane.

Emirati budget airline Air Arabia reports record profits after loss in 2020

The Sharjah-based carrier said profits went up due to relaxed coronavirus-related restrictions.

Al-Monitor Staff

By Al-Monitor Staff

People queue outside Megasis, the first Iranian supermarket in Venezuela, in Caracas on July 31, 2020.

Direct Iran-Venezuela flights to begin next month

A Venezuelan official said the South American country wants to attract Iranian tourists.

Al-Monitor Staff

By Al-Monitor Staff

A picture taken on Sept. 3, 2019, shows freshly painted blue roads in Doha, an experiment to cool the tarmac surface and reduce the temperature of surrounding areas.

Qatar National Bank launches environmentally friendly finance project

The Doha-based bank will loan cash to the British bank HSBC to be used for green transportation investments.

Al-Monitor Staff

By Al-Monitor Staff

Ultra-Orthodox Jewish women work on computers in the central city of Holon on April 17, 2016.

Record number of ultra-Orthodox women join Israeli workforce

More and more Israeli ultra-Orthodox women turn to computer programming, accounting, entrepreneurship and other jobs instead of traditional positions in the education system.

Leviathan gas field

Negotiations likely to start over in Israel-Cyprus gas field dispute

Israel’s Energy Minister Karine Elharar is reexamining the Israel-Cyprus dispute over the gas field on their maritime border.