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Economy & Business

Oil tankers and cargo vessels are anchored off the coast of Oman after being stranded for days as congestion at Port Sultan Qaboos has prevented them from docking on June 23, 2026 in Muscat, Oman. The Strait of Hormuz, a vital shipping route for the region's oil and gas, was effectively blockaded since the outbreak of war between the United States and Iran in late February. This week's provisional peace deal between the countries was meant to reopen the waterway to shipping traffic, but the pace of that reo

Oil prices ease as OPEC+ increases production, Hormuz traffic rebounds

Brent crude, the international benchmark, fell 0.15% to $71.87 a barrel as of 8:07 a.m. EDT after dropping as low as $71.09 earlier in the session, its lowest level since before the US-Israel-Iran war began on Feb. 28.

An aerial view shows port of the western Syrian port city of Latakia, on Dec. 18, 2024.

Analysis

Can a UAE-backed Syria-Iraq corridor become Gulf's next trade route?

On June 26, Emirati and Syrian officials discussed plans for a logistics corridor connecting Syrian ports to Gulf markets via Iraq.

In Bristol, reporting on regional business, climate change, AI, tech

Oil drilling near Dakhiliyah in the desert region of Hasakah, Syria, Jan. 25, 2026.

Syria launches gas project with Saudi firm in latest Gulf energy partnership

The project is the latest in a series of Gulf-backed investments aimed at rebuilding Syria's energy sector after the ouster of President Bashar al-Assad in December 2024.

Crude oil tankers, bulk carriers and vessels sit anchored around Qaboos Port on June 22, 2026, in Muscat, Oman.

Oil falls below $71 as US-Iran talks continue, Gulf exports rebound

Qatar’s Foreign Ministry spokesperson said in an X post on Wednesday that Iran and the United States had made "positive progress."

Latest News

Trump earns $810M from UAE-backed crypto firm: What to know

People walk past a cryptocurrency exchange office with a screen featuring US President Donald Trump holding cryptocurrency coins in Hong Kong on March 12, 2025.

United Arab Emirates

Kuwait's Zain eyes $1.5B mobile network in postwar Syria: What to know

Omar Albaw / Middle East Images / AFP via Getty Images

Here's what to know about Iraq's corruption as Zaidi launches crackdown

AHMAD AL-RUBAYE / AFP via Getty Images

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

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

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

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

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.

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.