Oil falls to prewar levels as Hormuz reopens
Oil prices retreat as Gulf shipping stabilizes, Qatar moves to restore LNG output, and regional governments roll out new investment and residency incentives.
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Brent crude on Wednesday fell below $74, a level not seen since before the US-Israel-Iran war, as more ships began to transit through the Strait of Hormuz and Tehran and Washington continued to negotiate a peace deal. One of the Gulf’s biggest energy producers, Qatar, has vowed to restore liquefied natural gas production in weeks, while French investors remain bullish on the region’s long-term fundamentals. This week, we also look at how Kuwait and Lebanon are hoping to woo foreigners and the ultra rich with new residency schemes.
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