Economy and trade

AFP via Getty Images

Traffic plummets through Strait of Hormuz after Iran, US trade fire

Shipping through the Strait of Hormuz had recovered somewhat before renewed fighting between Iran and the United States saw traffic drop sharply over the weekend.

A student attends a training seminar at the Tourism Ministry Training center in the city of Riyadh on August 30, 2022.

Interview

Saudi labor localization will take ‘generation or two': Armada CEO

Around 70% of Saudi Arabia's population is 35 years old or younger, according to the kingdom’s General Authority for Statistics, providing ample opportunity for an educated and technology-savvy national workforce in the coming decades.

Olivier Badard

CEO of Armada Holding

A tourist boat passes near crude oil tankers, bulk carriers, and other vessels anchored off Port Sultan Qaboos in Muscat, Oman, June 19, 2026.

Analysis

Why the Hormuz oil shock never became an energy catastrophe

The US-Israel-Iran war produced a historic oil supply shock but not a severe global economic crisis, due to ample prewar supplies, China's energy pivot and strategic reserve releases.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Elke Scholiers/Getty Images

Oil falls below $74 as Hormuz traffic recovers after Iran war

Brent crude, the international benchmark for oil prices, was trading at $73.81 a barrel at 10:40 a.m. EDT, down 4.2% from Tuesday's close.

Latest News

Explainer

Lebanon advances controversial $500K golden visa law: What to know

A picture shows the four seasons hotel in Beirut with the snow covered mountain of Sannine in the background on March 8, 2019.

Explainer

Qatar blast underscores challenges in race to restart Gulf energy flows

Qatar's Energy Minister and CEO of QatarEnergy Saad Sherida al-Kaabi speaks during a press conference in Doha on June 22, 2026.

Interview

US-Egypt fund makes case for economic statecraft in hard power era

A worker counts banknotes after filling up the tank of a vehicle at a petrol station in Giza on March 10, 2026.

Cornelius Queen

Cornelius Queen

Senior Vice President of the Egyptian-American Enterprise Fund

Oil falls more than 3% after Iran, US signal progress in talks

MUSCAT, OMAN - JUNE 21: Oil tankers and cargo vessels remain anchored off Port Sultan Qaboos around Qaboos Port on June 21, 2026 in Muscat, Oman. The Strait of Hormuz, a vital shipping route for the region's oil and gas, was effectively blockaded since the outbreak of war between the United States and Iran in late February. This week's provisional peace deal between the countries was meant to reopen the waterway to shipping traffic, but the pace of that reopening is unclear amid continued fighting in Lebano

Zarif seeks help from Pakistan

Iranian Foreign Minister Mohammad Javad Zarif visits Islamabad with an eye toward receiving help in dealing with Iran's economic woes and its issues with Washington and Riyadh.

Seeking trade incentives, Palestinian businessmen develop economic ties with Israel

Palestinian businessmen flout political taboos by meeting with Israelis for business.

Egypt plans new maritime line to East Africa for increasing exports

The Egyptian government will soon inaugurate a new maritime line from the port of Ain Sokhna to East African countries, with the aim of boosting trade and exports.

Group to boost Palestinian economy, cut link to Israel

The Palestinian prime minister is heading a new group designed to inject vitality into the economy and strengthen partnerships among the public, private and civil sectors.

The sun sets over the Nile River in Aswan 1,000 kms south of Cairo on May 13, 2010. Four African countries signed on May 14, 2010 a new treaty on the equitable sharing of the Nile waters despite strong opposition from Egypt and Sudan who have the lion's share of the river waters. AFP PHOTO/AMGAD FOUAD (Photo credit should read AMGAD FUAD/AFP/Getty Images)

Egypt’s new free zone to serve development purposes

As part of the Egyptian government development plan for Upper Egypt, a new free zone will be opened in Aswan to boost the economy, serve investors and create more jobs.

The PA moves forward in its disengagement from Israel

The Palestinian government decided to appoint commercial attaches in the Palestinian embassies in a bid to promote national products abroad, which is seen as a step forward on the path of economic disengagement from Israel.

Contradictory moves to rescue Palestinian economy

While the United States is pushing for an economic workshop to help Palestinians, the mood in Ramallah is defiant with ideas to build an alternative independent economy — a goal sought by the Shtayyeh government.

Russian President Vladimir Putin and Iranian President Hassan Rouhani attend a news conference, after a meeting in the Black sea resort of Sochi, Russia, 14 February 2019. Sergei Chirikov/Pool via REUTERS - RC158EB139B0

Can Iran rely on Russia to dodge US pressure?

Iran is relying on Russia to minimize the impact of the US "maximum pressure" campaign, but Russia seems to have reservations while it also enjoys certain advantages if US-Iran tensions remain unresolved, albeit at a controlled level.

Turkey’s debt-ridden Treasury mulls risky steps to stay afloat

Grappling with a growing budget deficit and with little room to maneuver, Ankara has come to consider some unorthodox measures, including the high-risk idea of tapping the central bank’s rainy-day cash.

Lebanese President Michel Aoun heads the first meeting of the new Saad al-Hariri's cabinet at the presidential palace in Baabda, Lebanon, February 2, 2019. REUTERS/Mohamed Azakir - RC14542F8110

Amid protests, Lebanon’s Cabinet faces difficult choices on public sector austerity

Analysts doubt that Lebanon’s Cabinet will be able to reduce the budget deficit and salvage the long-term health of the Lebanese economy without taking unpopular austerity measures, and not taking them would lead to an even more dire economic situation.

EDITORS' NOTE: Reuters and other foreign media are subject to Iranian restrictions on their ability to film or take pictures in Tehran.

A petrol station attendant (R) counts money as a man waits for his change at a petrol station in northwestern Tehran December 19, 2010. The price of gasoline will rise four-fold in Iran in the coming days, state television announced late on Saturday, as the most politically sensitive part of President Mahmoud Ahmadinejad's subsidy cuts plan takes effect. REUTERS/Morteza

What to do about Iran’s expected budget deficit

The impact of US sanctions on Iranian energy exports is bound to cause a budget deficit in Iran, with the Rouhani administration facing tough choices ahead.

Russia may have designs on Iran's trade with Syria

Observers wonder whether Russia will cut into Iran's trade volume with Syria.