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In this picture obtained from Iran's ISNA news agency on May 4, 2026, the Iran-flagged tugboat Basim sails near a ship anchored in the Strait of Hormuz off Bandar Abbas in southern Iran.

What to know about Iran's 'Persian Gulf Strait Authority' to control Hormuz traffic

The establishment of an entity seeking to control maritime transportation in the Strait of Hormuz is the latest sign that Iran wants to formalize authority in the strategic waterway.

Egyptian Prime Minister Mostafa Madbouly speaks in Beirut on Dec. 19, 2025.

Egypt ramps up energy investments amid war-driven price pressures

Prime Minister Mostafa Madbouly said Wednesday that Egypt has secured commitments exceeding $19 billion from international oil companies over the next three years.

Tankers are seen at the Khor Fakkan Container Terminal in the Sharjah Emirate, along the Strait of Hormuz on June 23, 2025. (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Few ships pass Hormuz despite US efforts to break Iran's hold

Only four commercial vessels had transited the strait in the 24 hours before Tuesday morning, according to ship-tracking data.

Latest News

Iran strikes UAE’s Fujairah oil hub as US pushes Hormuz reopening

Meysam MIRZADEH / TASNIM NEWS / AFP via Getty Images

United Arab Emirates

Analysis

MENA wheat importers face food security risks as Hormuz crisis festers

Crops of wheat and barley in Terbol village on May 10, 2022, in Bekaa Valley, Lebanon.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Oman enters Gulf AI race with new special economic zone in Muscat

Haitham AL-SHUKAIRI / AFP via Getty Images

Oil surges past $120 to war-time high as Trump rejects Iran overture

A pumpjack stands idle in the Huntington Beach oil field, with port cranes visible in the distance, on April 23, 2026, in Huntington Beach, California.

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

Merz

Merz courts Gulf as Germany seeks energy alternatives to US, China

Berlin is seeking to capitalize on ties with Gulf energy giants as relations with the United States have cooled amid strains over transatlantic defense commitments, Washington’s pursuit of Greenland and tariffs.

Platform Edith, the largest of Chevron's USA's offshore production platforms, is seen off the southern California coast, on Oct. 6, 2021.

Syria to develop first offshore oil, gas field with US’s Chevron, Qatar’s UCC

In 2013, Russian firm Soyuzneftegaz signed a deal to explore for oil and gas in Syrian waters, but the project was dropped two years later due to the civil war.

KHALED DESOUKI/AFP via Getty Images

Iran warning near Hormuz collides with Red Sea shipping comeback

Armed boats attempted to intercept a vessel near the Strait of Hormuz on Tuesday, the same day that major container lines also announced the resumption of limited transits through the Suez Canal.

YASSER AL-ZAYYAT / AFP via Getty Images

Kuwait to open offshore oil, gas fields to foreign firms: What to know

The Gulf country and OPEC member has made significant oil and gas discoveries since 2023.

US President Donald Trump shakes hands with Indian Prime Minister Narendra Modi during a joint press conference in the East Room of the White House in Washington, on Feb. 13, 2025.

How US-India trade deal could impact Mideast energy, trade routes

The United States and India struck a trade agreement on Monday that eases months of tension between the two countries and could influence Gulf oil flows and economic integration.

A woman checks a window shop at a jewelry store in Dubai, on March 10, 2025.

Gulf markets recover after gold rout, buoyed by Iran de-escalation hopes

Saudi Arabia’s benchmark stock index, TASI, rose 1.4%, a day after falling the most in nearly 10 months amid a broad sell-off in the commodities market.

United Arab Emirates

A general view of Saudi Aramco's Abqaiq oil processing plant on Sept. 20, 2019.

US-Iran tensions fan oil disruption fears as Gulf states confront retaliation risks

From blocking the Strait of Hormuz and seizing commercial shipping to striking energy infrastructure, Tehran’s retaliation playbook could rattle the region as Gulf states fear red lines have been crossed.

This picture shows a view of the Abu Dhabi skyline on May 14, 2025. (Photo by FADEL SENNA / AFP) (Photo by FADEL SENNA/AFP via Getty Images)

Abu Dhabi merges ADQ into new wealth fund L'IMAD: What to know

Under the new structure, Sheikh Khaled bin Mohammed, the crown prince of Abu Dhabi, will oversee a broader swath of the emirate’s investment holdings.

United Arab Emirates

Art of digital currency.

UAE Central Bank approves first US dollar-backed stablecoin: What to know

The approval marks a milestone in the UAE’s development of digital currency infrastructure and positions USDU as the Gulf country’s first USD-denominated currency for digital assets.

United Arab Emirates

Old chemical barrels.

Oil climbs above $70 a barrel, hitting five-month high on Iran tensions

At 9:30 a.m. ET, Brent crude futures reached $70.44, the highest level since Aug. 1, 2025.

Aerial view of Riyadh at night with illuminated modern skyscrapers and busy streets under a clear dark sky, Al Olaya street.

Analysis

Saudi Arabia downsizes megaprojects, chases cash amid AI push

After years of breakneck spending, Crown Prince Mohammed bin Salman’s flagship plan to diversify the oil-dependent economy — dubbed Vision 2030 — is facing a fresh round of delays and recalibration as softer oil prices squeeze public finances and force tougher choices.

Samuel Wendel

By Samuel Wendel , Jack Dutton