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Explainer

Iraq seeks special Hormuz access from Iran in scramble to keep oil flowing

As Iran's parliament speaker holds talks in Baghdad, Iraq has asked Tehran for special consideration for its oil exports.

President Ahmad al-Sharaa meets Turkish Energy and Natural Resources Minister Alparslan Bayraktar at the People’s Palace in Damascus, Syria, on Aug. 19, 2026.

Turkey looks to expand Syria energy footprint into oil, gas

Turkish Energy Minister Alparslan Bayraktar said state oil giant TPAO and private companies are ready to explore for oil and gas onshore and offshore in Syria.

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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

Latest News

Explainer

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

RAMI AL SAYED/AFP via Getty Images

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

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.

United Arab Emirates

Iran says understanding reached with Oman over new Hormuz route map

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

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

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

NIKITA BORISSOV/AFP via Getty Images

Russia agrees to supply Iran with 55 bcm of gas, fund nuclear plant: What to know

Iranian Oil Minister Mohsen Paknejad is in Moscow this week, meeting with Russian Energy Minister Sergei Tsivilev on Friday.

Syrian President Ahmed al-Sharaa (2nd R) leaves a bilateral room after his meeting with Qatar's minister of foreign affairs during the Antalya Diplomacy Forum, Antalya, April 11, 2025.

UK lifts sanctions on Syrian ministries, intelligence agencies

It marks the second raft of sanctions on Syria lifted by the United Kingdom since the toppling of long-time dictator Bashar Al-Assad in December and the formation of a new government.

Saudi Arabia, UAE, Qatar face uneven 2025 growth as trade tensions rise: IMF

While Gulf economies face only the Trump administration’s baseline 10% tariffs, the levies have already impacted oil prices and revenue, especially for rentier states like Saudi Arabia.

Employees stand behind stacks of local currency notes as they serve clients at an exchange shop in Damascus, on April 16, 2025.

IMF appoints first Syria mission head in 14 years: What to know

Syria's new government faces the task of revitalizing an economy that has been devastated by 14 years of war and ravaged by international sanctions.

Excess flammable gasses burning from gas flares at the Havana oil field, west of the multi-ethnic northern Iraqi city of Kirku, Oct. 17, 2017.

Analysis

Why low oil prices under Trump are unlikely to curb Middle East output

Prices stood around $100 a barrel in 2022, under the Biden administration, but hovered between $63 and $66 this past week.

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

Jakarta

GCC-Indonesia economic ties deepen with Saudi MoUs, joint Qatar fund

Trade between Indonesia and the Gulf is rising and negotiations are underway for a GCC-Indonesia free trade agreement.

People walk past a currency exchange board showing the Turkish Lira which fell to historic lows against the dollar after the news of the arrest of Istanbul Mayor Ekrem Imamoglu on March 19, 2025 in Istanbul, Turkey.

Turkey hikes interest rate to 46% amid turmoil over Imamoglu’s arrest

The rate hike marks the first since March 2024, amid growing economic turmoil following the arrest of Istanbul Mayor Ekrem Imamoglu.

A picture taken on Dec. 7, 2021, in Istanbul shows Turkish liras.

Turkey's budget deficit narrows to $6.8B in March as lira fluctuates

The data was released as Turkey has been facing economic turmoil and currency volatility.

Cheng Xin/Getty Images

China's oil imports highest since 2023 amid Iran crude spike: What to know

Data from analytics firm Kpler from April 11 showed that Iran’s exports were up 20% from February and at a five-month high.

Retired US army general, David Petraeus, speaks at the Qatar Economic Forum in Doha on May 15, 2024.

David Petraeus, ex-CIA head, tapped to lead KKR's push into Mideast markets

The newly-formed team will identify investment and partnership opportunities in the region, with a focus on the Gulf Cooperation Council countries, the private equity firm said.

People walk past the New York Stock Exchange on Wall Street on April 11, 2025, in New York City.

Where Middle East’s top investors stand as tariffs roil US bond market

GREG BAKER/AFP via Getty Images

China courts Gulf, BRICS allies as trade war with US escalates

Since US President Donald Trump announced reciprocal tariffs on more than 180 countries on April 2, Beijing has stepped up engagement with Riyadh.