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Economy & Business

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

FADEL SENNA/AFP via Getty Images

Explainer

Gulf states push incentives for investors, expats after war dents image

Several Gulf states are working to recover their images as global havens of stability in the wake of the Iran war.

United Arab Emirates

A worker at a market for fuel oil and automotive fuel on March 17, 2026, in Erbil, Iraq.

Explainer

After UAE and Qatar, could Iraq be next to leave OPEC?

Iraq is seeking a higher production quota as the effective closure of the Strait of Hormuz has slashed oil revenues and plunged the country into a fiscal crisis.

Amjad Kurdo / Middle East Images / AFP via Getty Images

Explainer

Syria’s energy push could soon get a major boost from Chevron: What to know

The country's leaders are seeking to translate a flurry of oil and gas agreements into concrete investments and rebuild an industry devastated by more than a decade of war, sanctions and isolation.

Latest News

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

Elke Scholiers/Getty Images

Explainer

Hormuz tolls, frozen funds pose early tests for US-Iran peace progress

AMIRHOSSEIN KHORGOOEI / ISNA / AFP via Getty Images

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.

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

Cargo ships unload imported goods in the Tunisian port city of Rades on November 12, 2014. The World Bank said in a report published last September that Tunisia's economic model of manufacturing for exports and protecting the domestic market was valid in the 1970s but since then had hindered progress. AFP PHOTO / FETHI BELAID (Photo credit should read FETHI BELAID/AFP via Getty Images)

Tunisia-EU economic links to prevail over political tensions

Francisco Serrano

Francisco Serrano

In Lisbon, reporting on North Africa business

A general view shows the headquarters of Bahrain-domiciled asset manager Investcorp in the capital Manama on April 18, 2022. (Photo by Mazen Mahdi / AFP) (Photo by MAZEN MAHDI/AFP via Getty Images)

In first, Bahrain asset manager targets up to $550 million in China yuan fund

Gulf buyers have announced 13 acquisitions of public and private Chinese companies so far in 2023, compared to just one in the same period of last year, according to data compiled by LSEG.

This photograph taken on June 9, 2023, shows the Central Bank of Turkey, in Ankara.

Turkey reports account surplus amid fiscal policy changes

Turkish bonds may also become more attractive, according to a top bank, as Turkey’s new economic leaders raise interest rates and end unpopular policies.

GIUSEPPE CACACE/AFP via Getty Images

Emirates, Flydubai top orders at Dubai Air Show as China's J-10 makes debut

Middle Eastern carriers were out in full force on the opening day of the five-day air show at Al Maktoum Airport at Dubai World Central.

United Arab Emirates

Tamar platform

Chevron resumes gas supplies from Israel’s Tamar field after Gaza war halt

The US energy giant was ordered to shut down the field for security reasons after the outbreak of the Israel-Hamas war.

An employee walks on the Expedient regasification ship, anchored off the coast of Israel in the Mediterranean Sea on February 26, 2015, as natural gas began flowing from the vessel, hired by the Israel Electric Corporation, to its power stations. The ship, anchored about ten kilometres from the Hadera coast, was connected the previous week to the marine buoy and as of February 25, natural gas has begun flowing from the LNG (liquid natural gas) ship through an underwater pipeline directly to the company's po

Can the East Med gas hub remain with Israel at its center?

In Washington, DC, reporting on regional energy

UAE gas

EU wants COP28 host UAE to contribute to climate fund: report

The Bloomberg report comes ahead of the annual UN climate change conference that will kick off in Dubai later this month. The UAE is working to address climate change while also remaining committed to oil and gas.

KARIM SAHIB/AFP via Getty Images

EU says UAE will restrict certain re-exports to Russia amid Ukraine war

The United Arab Emirates has agreed to restrict the re-exportation to Russia of "dual-use" items used for its war in Ukraine, and Turkey is reportedly considering a similar measure.

United Arab Emirates

Iranians shop for fruits at a market in Tehran on November 21, 2019. (Photo by STR / AFP) (Photo by STR/afp/AFP via Getty Images)

Can food security help forge Iran-GCC ties?

Shifting attitudes to food security have the potential to turn the agricultural and food sectors into the main platform for greater trade and investment between the Gulf Cooperation Council (GCC) and Iran.

Bijan Khajehpour

Bijan Khajehpour

In Vienna, reporting on Iranian politics

An Emirates Airlines plane lands at Dubai International Airport in Dubai on Oct. 17, 2023.

Emirates Group posts record $2.7B half-year profit as Gulf travel recovers

Gulf airlines have largely recovered from the COVID-19 pandemic, though the war in Gaza could threaten tourism in the region.

Saudi Finance Minister

Saudi Arabia to sign more than $500M in deals with African countries

Saudi Investment Minister Khalid Al-Falih said the kingdom’s sovereign wealth fund, the Public Investment Fund, will make some “game changing” investments in Africa.

Tourists and locals visit the Dubai Mall aquarium in downtown Dubai, January 2, 2019.

What the Gulf states new unified visa means for Saudi, UAE, other citizens

The new Schengen-like visa — allowing seamless travel between members Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates — will be introduced during 2024-25.