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Economy & Business

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Oil nears $92 on UAE missile alert as Trump claims Iran talks stuck

Brent crude climbed near $92 a barrel on Tuesday, reaching its highest level this month amid new escalatory developments.

United Arab Emirates

RAMI AL SAYED/AFP via Getty Images

Explainer

What US sanctions on Syria remain as Shibani, Barrack hold talks?

Key sanctions remain on Damascus, including a designation that was made more than four decades ago.

A picture take on Sept. 13, 2017, shows Khalaf Ahmad Al Habtoor, chairman of the Al Habtoor Group, attending the World Premiere of La Perle in Dubai.

UAE billionaire Habtoor takes aim at Ben Gvir’s Gaza rhetoric

The prominent Dubai businessman condemned the Israeli national security minister's call to kill of dozens Gazans nightly, putting a pointed criticism from an influential Emirati voice on the record.

United Arab Emirates

Ships are anchored in the Strait of Hormuz on Aug. 10, 2026, off the coast of Bandar Abbas, Iran.

Iran says understanding reached with Oman over new Hormuz route map

Iranian Foreign Ministry spokesperson Esmail Baghaei told reporters in Tehran on Monday that “an understanding has been reached regarding the map of the transit route.”

Latest News

Analysis

Beyond bases: Russia’s foothold in Syria shrinks even as ties endure

Russian President Vladimir Putin greets Syrian President Ahmed al-Sharaa at the Grand Kremlin Palace, Moscow, Oct. 15, 2025.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Explainer

What would BRICS Bank membership mean for Iran's reeling economy?

Motorists drive vehicles past a billboard depicting Iran's late supreme leader Ali Khamenei along a street in central Tehran on August 8, 2026. Hopes for an imminent US-Iran deal to end the blockage of the Strait of Hormuz added to optimism that oil and gas, along with other key products, would again start flowing freely after more than five months of war. But oil prices turned higher ahead of the weekend in the absence of any confirmation of an accord, amid reports that Iran was planning to block US and Is

Oil spills off Oman, Iran's Qeshm Island reap environmental havoc amid war

A photograph obtained from the Iranian Students’ News Agency shows an oil slick along the southern coast of Qeshm Island, Iran, August 13, 2026.

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

A Ryanair Boeing 737-800 aircraft lands at Barcelona's 'El Prat' airport on September 28, 2018

Ryanair scraps Tel Aviv return amid airport dispute, regional instability

The Irish low-cost carrier said Tuesday it would not restart winter flights to Israel, scrapping some 22 routes to and from Tel Aviv and around 1 million seats.

The Saudi delegation meets with Vietnamese officials in Hanoi, Sept. 29, 2025.

After China, Saudi industry minister visits Vietnam in eastward economic push

Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef met with a number of Vietnamese officials on Monday as the oil-rich Gulf kingdom looks east to diversify its economic alliances.

Iranians drive next to a billboard displaying pictures of nuclear scientists, centrifuges and a sentence reading in Farsi, "Science is the power," at the Enqelab Square in Tehran, on Aug. 29, 2025.

Iran rial hits record low 1.13M to dollar as UN snapback sanctions resume: What to know

The sanctions, which were trigged by the three European signatories to the nuclear deal, will not hinder Iranian oil exports to China, an official said.

EA office building in Austin, Texas, USA.

Gaming giant Electronic Arts taken private in $55B Saudi-backed buyout

The transaction represents a significant deal involving entities close to the Saudi Arabian and US governments.

Eric Trump, executive vice president of the Trump Organization and the US president's son, looks over the proposed plan ahead of the signing ceremony with Qatar's Diar and Dar Global, Doha, Qatar, April 30, 2025.

Trump family further expands Gulf business with $1B Jeddah plaza project

It will be the second Trump-branded development in the kingdom after the launch of Trump Tower Jeddah last December.

The headquarters of the UAE's state oil company, ADNOC, Dubai, July 27, 2022.

Analysis

After $20B deals unravel, will Gulf oil majors scale back abroad?

International deals pursued by Saudi Aramco and the UAE's ADNOC have collapsed in recent weeks, adding fresh complications for both national oil companies amid their drive to grow in new markets.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

People and street vendors move past one of Hama's landmark historic water wheels on a bridge over the Orontes riverbank in the heart of the central Syrian city on Dec. 30, 2024.

Saudi Arabia and Qatar pledge $89M for Syrian public sector: What to know

The new Syrian government has struggled to pay public workers sufficiently and is implementing a plan aimed at rooting out “ghost employees" who do not show up to work.

FAYEZ NURELDINE/AFP via Getty Images

Saudi Arabia courts Chinese firms in mining investment drive

Mining and Industry Minister Bandar Alkhorayef met with executives from more than 20 mining firms in Beijing on Thursday.

Pictured is the entrance to King Abdullah Economic City in Jeddah, on Feb. 3, 2009.

Analysis

OECD forecasts 3.7% growth for Saudi Arabia, citing US tariff shield

The kingdom is projected to grow at 3.7% this year, 1.9 percentage points more than forecasted in June.

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

Moroccan soldiers patrol the city of Tangiers on August 11, 2020 amid a new outbreak of the novel coronavirus.

India, Morocco open new military factory in Casablanca region

The facility will make WhAP 8x8 armored combat vehicles for the Moroccan military and international markets.

US President Donald Trump (L) and Turkey's President Recep Tayyip Erdogan (R) leave the stage after the family photo to head to the plenary session at the NATO summit at the Grove hotel in Watford, northeast of London.

Turkey scraps tariffs on some US imports ahead of Erdogan-Trump meeting

The reversal of the levies was announced in Turkey’s Official Gazette on Monday, affecting goods such as passenger cars, fruit, rice, cosmetics, solid fuels and chemical products.