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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

An Egyptian woman casts her vote at a polling station, Cairo, Egypt, Nov. 9, 2005.

Egypt empowers disabled with entrepreneurship incubator

Egypt will establish a new incubator to help entrepreneurs with disabilities turn their projects into viable businesses, as the Arab country aspires to turn this segment of society into a driving force of economic growth.

Bitcoin

Jordanians turn to cryptocurrency despite ban

Despite the risk in the cryptocurrency trading market, it remains largely unregulated in Jordan, where thousands have invested amid lack of job opportunities.

Yemen currency

Divergent currency values make life even harder in Yemen

Yemenis continue to bear the brunt of the war, including a devastated economy and banknotes that may have no value depending on which part of the country they visit.

A general view taken on Dec. 20, 2019 shows the skyline of the Qatari capital Doha.

Doha Bank releases 2021 profits

The Qatari bank reported a slight increase in profits compared to 2020, though it experienced a loss in its amount of total assets.

Al-Monitor Staff

By Al-Monitor Staff

Passengers from Iran arrive to Najaf airport after it reopened on July 16, 2018.

Iraq receives 145% more foreign visitors in 2021

Iraq waived the visa requirements for citizens of many economically powerful countries last year in a bid to attract tourists and businesspeople.

Turkey electricity

Popular anger simmers in Turkey over ballooning electricity bills

Electricity bills have doubled and even tripled in Turkey after massive price hikes, fueling frustration with Erdogan’s economic management.

Turkey protest

Turkish unemployment down at end of 2021

Turkey is in the midst of an economic crisis, marked by historically high inflation. The government has misled the public with its unemployment figures in the past.

Al-Monitor Staff

By Al-Monitor Staff

Egypt gas plant

Egypt plans to export gas to Lebanon by end of February

While Egypt stresses that the route is open for gas exports to Lebanon, two prominent members of the US Congress have called on the Biden administration to reconsider its support for the energy deal between Egypt, Jordan, Syria and Lebanon.

Dubai expo

Saudi Arabia building support for Expo 2030 bid

The kingdom wants to host the international cultural forum, which is currently being held in Dubai.

Palestinian school teacher Jihad Abu Sharar gives lessons online from her home, after a decision by the minister of education to close schools and kindergartens following a surge in coronavirus cases, Dura village, the West Bank, Feb. 3, 2022.

World Bank report notes improvement Palestinian digital economy

The DC-based institution’s report also said that Israeli restrictions and the Palestinian legal framework are impeding further development in the West Bank and Gaza Strip.

Egypt financial

First Abu Dhabi Bank seeks to buy Egyptian financial firm EFG Hermes

Merger and acquisition activity rose dramatically in Egypt in 2021.

Al-Monitor Staff

By Al-Monitor Staff

Israel economy

Report: Israel central bank leader not concerned about inflation

Andrew Abir discussed interest rates, Israel’s high cost of living, foreign currency purchases and more with the Israeli media outlet Globes.

Al-Monitor Staff

By Al-Monitor Staff