Economy and trade

Fayez Nureldine / AFP via Getty Images

Saudi Arabia's economy shrinks by 4.8% amid Iran war: What to know

The kingdom saw a 24.7% year-on-year decline in its oil sector for the April 1 to June 30 period due to the closure of the Strait of Hormuz.

Iraqi Prime Minister Ali al-Zaidi speaks during a meeting with US Secretary of Defense Pete Hegseth (not pictured) at the Pentagon on July 14, 2026 in Arlington, Virginia.

Zaidi to meet Erdogan as Turkey-Iraq ties take off, Kurds feel sidelined

The Iraqi prime minister's visits to Ankara and Riyadh underscore Baghdad's push to deepen regional ties as Turkey seeks closer cooperation on energy and security.

AMIRHOSSEIN KHORGOOEI / ISNA / AFP via Getty Images

Oil falls 9.5% in steepest drop in months as Iran, US pause attacks

Iran says it is still in control of the Strait of Hormuz and not seeking to resume peace talks with the United States after President Donald Trump halted a two-week bombing campaign.

Spectators look on as an A350-1000 by the European plane maker Airbus takes off on the second day of the Farnborough International Airshow 2026, Farnborough, July 21, 2026.

Explainer

Saudi airlines outbuy Gulf rivals at Farnborough air show: What to know

Saudi airlines emerged as the Middle East's biggest buyers at the international event, while the Gulf's three largest carriers browsed.

United Arab Emirates

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Explainer

How US bid prevailed over China, France, Russia in Saudi nuclear deal

Win McNamee/Getty Images

Houthis warn shipping firms to avoid Saudi ports or face attack: What to know

A pickup truck carrying a turret is pictured as fighters supporting the Aden-based and internationally recognized Yemeni government gather along the Red Sea shore in Khokha, in Yemen's western Hodeidah province on July 20, 2026.

Oil tops $90 as Iran warns Hormuz 'will not be safe'

Amir Hossein KHORGOOEI / ISNA / AFP via Getty Images

Explainer

France-Morocco ties get an energy jolt as historic heatwaves pressure Europe

Director of European Affairs and Customs at La Poste Groupe Christelle Defaye-Geneste (L) and Morocco's Minister of Industry and Trade Ryad Mezzour (R) sign agreements between La Poste Groupe and Barid Al-Maghrib, alongside France's Prime Minister Sebastien Lecornu (C-L) and his Moroccan counterpart, Aziz Akhannouch, during a meeting in Rabat on July 16, 2026.

A ship sails off the coast of Ajman on July 10, 2026.

Interview

Why Strait of Hormuz no longer rattles oil markets as much: IMF

The fund's Middle East director, Jihad Azour, told Al-Monitor that the big Gulf energy producers now have more capacity to absorb the shock.

Jihad Azour

Jihad Azour

Director of the Middle East and Central Asia Department at the International Monetary Fund

A man holds a Syrian flag across the street from the White House after Syrian President Ahmed al-Sharaa met with President Donald Trump at White House in Washington, on Nov. 10, 2025.

Syria, US hold first business forum since sanctions relief: What to know

The one-day forum in Damascus was organized by Syria’s Ministry of Economy and Industry and the US-Syria Business Council, which was established in Washington last June to advance trade and investment between the two nations.

A man crosses a street while returning home from work, in Dubai on June 23, 2026. (Photo by FADEL SENNA / AFP via Getty Images)

Analysis

Saudi-UAE payment blocks could imperil billions in trade: What to know

Delayed bank transfers from Saudi Arabia to accounts in the United Arab Emirates could suggest the rivalry between the region's largest economies is entering a new financial phase.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Syrian President Ahmed al-Sharaa (L) welcomes France's President Emmanuel Macron for a joint press conference in Damascus on July 7, 2026.

Explainer

How Macron seeks to carve out France's role in new Syria

French President Emmanuel Macron became the first Western leader to visit Syria since the fall of the Assad regime, showcasing Paris' support for Syrian President Ahmed al-Sharaa while seeking to secure a share of the country's emerging reconstruction market.

Igor IVANKO / AFP via Getty Images

How Iran war could impact oil markets in 2027

The International Energy Agency forecasts global oil supply will exceed demand by 4.62 million barrels per day in 2027.

Majid Saeedi/Getty Images

Why US strikes on Iran rail bridge signal shift in Hormuz conflict

A US missile strike on the railway bridge linking Iran to Central and East Asia suggests the White House is once again flirting with politically coercive tactics after the June agreement failed to halt Iran's attacks on Hormuz shipping.

Syrian President Ahmed al-Sharaa (R) shakes hands with France's President Emmanuel Macron following a joint press conference in Damascus on July 7, 2026.

Explainer

French energy, shipping giants explore Syria deals during Macron visit

The two countries signed preliminary pacts spanning transport, healthcare, banking, infrastructure and development on Tuesday, even as twin explosions in the capital underscored the fragile investment environment.

Farmers roast harvested wheat using fire in a field on the outskirts of Aleppo, Syria, on May 18, 2026.

Analysis

How Syria’s wheat fields turned into first battleground over reconstruction

A battle over wheat prices could be the first political contest over who reconstruction will benefit.

Haddon Barth

By Haddon Barth

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

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."

Omar Albaw / Middle East Images / AFP via Getty Images

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

The Kuwaiti company is planning to invest more than $1.5 billion in Syria after securing a license to operate there, Bloomberg reported Tuesday.

French President Emmanuel Macron (L) and Oman's Sultan Haitham bin Tarik pose during a meeting with business leaders in Paris on June 29, 2026.

Oman's sultan meets Macron in first France visit since 1989: What to know

French President Emmanuel Macron has been pushing against any form of toll for the Strait of Hormuz.