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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

This picture taken on on Feb. 1, 2021 shows a view of the downtown Dubai skyline, with Burj Khalifa, as seen from the Dubai Frame vantage point.

Wealthy flock to UAE, fueling Dubai’s 32% company surge: What to know

Gulf states are diversifying their economies away from reliance on oil, and the UAE is leading the charge, with the country on track to welcome nearly 10,000 high-net-worth individuals this year.

United Arab Emirates

BEIJING, CHINA - MAY 30: Chinese President Xi Jinping and United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan review the honour guard during a welcome ceremony at The Great Hall of People on May 30, 2024 in Beijing, China. (Photo by Tingshu Wang - Pool/Getty Images)

UAE’s AD Ports Group opens first China office: What to know

UAE-China trade relations are on the rise amid persistent US scrutiny over sensitive technology.

United Arab Emirates

GIUSEPPE CACACE/AFP via Getty Images

Saudi mining licenses soar as kingdom hunts critical metals: What to know

The Saudi government has cleared hurdles for the mining industry in its pursuit of critical materials.

Saudi Crown Prince Mohammed bin Salman is greeting Syria’s interim president, Ahmad al-Shara, left, during his arrival on Sunday at the royal palace in Riyadh, Saudi Arabia

Saudi Arabia pledges $6B investment, to sign 47 deals with Syria: What to know

The event is a milestone for Syria-Saudi relations and the deals coming out of it are expected to help create 50,000 jobs across the country.

An image of Karim Attiyeh.

Meet Karim Attiyeh, youngest Arab American billionaire of Lebanese origin

Karim Attiyeh, a Lebanese-born technologist, has been named by Forbes Middle East as the youngest billionaire of Arab origin in the United States, joining the list of the 125 richest immigrant billionaires in the US.

BAKR ALKASEM/AFP via Getty Images

Saudi Arabia to invest $6B in Syria in boost to Sharaa: What to know

The kingdom has been at the forefront of diplomatic and economic efforts to support Syria's recovery.

A man carries the Syrian and the Saudi flags past a billboard thanking Qatar, in Damascus, on May 14, 2025.

Saudi Arabia offers travel permits to Syrian businessmen, investors: What to know

Syrian entrepreneurs can now directly apply for travel licenses at the Saudi Embassy in Damascus, while Saudi investors seeking to visit Syria can register via the Interior Ministry’s e-platform.

An export train to Russia and China leaves the Ankara station, on Jan. 29, 2021.

Turkey secures $2.8B green financing for Azerbaijan railway: What to know

The 223-kilometer railway will connect to the existing train route that joins Turkey’s northeastern city of Kars and the Georgian and Azerbaijani capitals of Tbilisi and Baku.

A flame from a Saudi Aramco oil instillation known as "Pump 3" is seen in the desert near the oil-rich area of Khouris, 160 kilometers east of the Saudi capital Riyadh, on June 23, 2008.

Saudi crude oil exports hit 3-month high as production soars: What to know

The increase comes as the kingdom is reeling from negative effects of lower oil prices and production boosts from OPEC+ under US pressure.

Boats sail near the shore in the Egyptian Red Sea resort city of El-Gouna, on Nov. 1, 2024.

Egypt pitches new investment plan to US firms: What to know

Egypt is hunting foreign investment as part of its Vision 2030 strategy for sustainable development.

Iraqi workers tend to a pipe at the Iraqi-Turkish pipeline in Karkuk, northern Iraq, Dec. 1, 2000.

Why Turkey plans to end its 52-year oil pipeline deal with Iraq

The Turkish decree stipulated that the 1973 Turkey-Iraq Crude Oil Pipeline Agreement — along with all amendments to the deal — would be terminated effective July 27, 2026.

A picture taken on December 7, 2022 in Riyadh, shows the Chinese and the Saudi flags adorning a street ahead of the Chinese president's visit to the Saudi capital. - Chinese President Xi Jinping will make a three-day visit to Saudi Arabia this week, meeting the king and de facto ruler of the world's biggest oil exporter. (Photo by Fayez Nureldine / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

Saudi Arabia's Diriyah awards Chinese firm $1.53B contract: What to know

Saudi Arabia’s Diriyah Company has awarded a major contract to China Harbour Engineering Company for the development of a Vision 2030 project.