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United Arab Emirates

March 13, 2026

Abu Dhabi 6:23 pm

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Commercial vessels are pictured offshore in Dubai on March 11, 2026. AFP via Getty Images

Oil jumps above $100 as energy crisis called worst in history: What to know

The latest spike is the second time in a week that oil prices have climbed above $100 a barrel.

An Emirates Airbus A380 passenger aircraft prepares for landing at Dubai International Airport in Dubai on March 8, 2026.

Airlines gradually restore Middle East flights, Gulf still heavily grounded

More than 43,000 of the 78,500 scheduled flights in and out of the Middle East have been canceled since the war began Feb. 28, according to flight data firm Cirium.

United Arab Emirates

Dan Kitwood/Getty Images

Oil swings steady as Aramco warns of 'catastrophic' Hormuz disruption

As investors appear to hedge their bets on persisting war risks, strikes on Gulf energy infrastructure continued on Tuesday, with a drone hitting the region’s largest single-site oil refinery.

Smoke and flames rise at the site of airstrikes on an oil depot in Tehran on March 7, 2026.

Analysis

Oil crisis stokes inflation risks for Mideast as Iran war exposes importers

With crude oil briefly nearing $120 per barrel on Monday before giving up gains, the conflict is poised to reignite inflationary pressures around the world, including for vulnerable economies such as Egypt and Turkey.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Latest News

G7 readies strategic reserves after oil nears $120 amid Iran war

In this photo illustration, a smartphone displays the crude oil price in USD after markets in the UK opened on March 9, 2026, in London, England.

Analysis

Qatar gas shock roils Middle East energy risk profile amid Iran war

Yasin AKGUL / AFP via Getty Images

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

UAE to freeze billions in Iranian assets following strikes

Christopher Pike/Getty Images

United Arab Emirates

What we know about UAE blocking X accounts accused of misinformation

Attendees take a picture of French Prime Minister Edouard Philippe as he delivers a speech during a visit to the Louvre Abu Dhabi Museum on February 10, 2018, on Saadiyat island in the Emirati capital, to launch the French-Emirati "Year of Cultural Dialogue". (Photo by KARIM SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

United Arab Emirates

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

Mohammed Soliman

In Washington, DC, reporting on Gulf politics

A picture shows a view of the untouched Yemeni Island of Socotra, a site of global importance for biodiversity conservation, located in the northwestern Indian Ocean, some 350km south of the Arabian Peninsula on March 27, 2008. Socotra is the main island of an archipelago of the same name, sometimes referred to as "the Galapagos of the Indian Ocean." The island is historically famous for its unique and spectacular vegetation -- botanists rank the flora of Socotra among the ten most endangered island flora

Welcome to one of the most exotic islands in the world

Socotra, a Yemeni island in the Indian Ocean known for its vast biodiversity, seeks to regain its strategic role to support the country’s economy.

United Arab Emirates

Secretary-General of the Gulf Cooperation Council (GCC) Abdullatif bin Rashid Al Zayani, Kuwait's Foreign Minister Sheikh Sabah al Khalid al Sabah, Qatar's Foreign Minister Khaled al-Attiyah, Oman's Foreign Minister Yusuf bin Alawi bin Abdullah, Saudi Arabia's Foreign Minister Adel al-Jubeir, Bahrain's Foreign Minister Khalid bin Ahmed Al Khalifa and UAE'S Foreign Minister Abdullah bin Zayed Al Nahyan (L-R) pose for a group photo during an extraordinary meeting in Riyadh January 9, 2016. REUTERS/Faisal Al N

How united is the GCC?

While Gulf states may all be united under the Gulf Cooperation Council name, their individual policies on foreign intervention vary greatly.

Is this the man who will replace Abbas?

It seems dismissed Fatah leader Mohammed Dahlan is expanding his regional and international influence to become the potential successor to Palestinian President Mahmoud Abbas.

Do gas condensate exports represent new beginning for Iraq's hydrocarbon industry?

As the first shipment of gas condensate reached the UAE, Iraq is seemingly on the right path to develop its energy sector despite some difficulties in the sector.

United Arab Emirates

Lebanon's Central Bank Governor Riad Salameh speaks during an interview with Reuters in Beirut, Lebanon November 3, 2015. It is essential that Lebanon's parliament meets soon to pass laws for development loans, debt issuance and banks, Salameh said on Tuesday, urging politicians to break political deadlock harming the economy. REUTERS/Mohamed Azakir - RTX1ULQ5

Will Gulf sanctions impact Lebanon’s banking sector?

Although the recent decisions by Gulf states to impose political and economic measures on Lebanon’s Hezbollah sparked concerns about the impact on the country’s economy, experts in the field say Lebanese banks will be able to overcome this phase.

How far will the Saudis go against Hezbollah?

With Saudi Arabia labeling Hezbollah a terrorist organization, a decision that was endorsed by the GCC, the kingdom hopes to legally pursue the Lebanese movement in international forums.

Hezbollah responds to GCC decision

In a speech following the GCC’s decision to label Hezbollah a terrorist organization, the movement’s leader, Sayyed Hassan Nasrallah, intensified his criticism of Saudi Arabia, indicating a readiness to go all the way in the confrontation.

Muslim Brotherhood's president-elect Mohamed Morsy (R) arrives at the Egyptian Television headquarters for his first televised address to the nation in Cairo June 24, 2012. Morsy's victory in Egypt's presidential election takes the Muslim Brotherhood's long power struggle with the military into a new round that will be fought inside the institutions of state themselves and may force new compromises on the Islamists. Picture taken June 24, 2012. To match Analysis EGYPT-ELECTION/STRUGGLE/ REUTERS/Stringer (

Who's behind vote to label Muslim Brotherhood a terror group?

After the House Judiciary panel voted along party lines to force a State Department ruling, opinions remain split over the true motivation behind the step.

What fading oil fortunes means for Turkey's businesses

Turkish businesspeople are losing sleep over oil-producing states' deferrals of payments to international contractors and the possible loss of mega projects.

UNICEF's representative in Yemen, Julien Harneis, listens to a boy during a visit to Yemen's southwestern city of Taiz January 21, 2016. REUTERS/Anees Mahyoub - RTX23EIY

Death, starvation haunt southern Yemen

The catastrophic humanitarian situation in Yemen’s besieged Taiz calls for immediate action to lift the siege that has strangled the city for almost a year.

Soldiers stand guard at the Jordanian-Syrian border, near Mafraq, August 16, 2015. Commander of the Jordanian Border Guard, Brigadier General Saber Mahayrah, said on Sunday that there was no sign of Nusra Front or Islamist State fighters on the border between Jordan and Syria. REUTERS/Muhammad Hamed - RTX1OELU

Will Saudi Arabia pressure Jordan to join ground offensive in Syria?

There is increasing talk about a land war in Syria to combat the Islamic State, but the Jordanians thus far appear reluctant to get involved.

Qatar's Emir Sheikh Hamad bin Khalifa al-Thani (C) arrives in Mehrabad airport ahead of the 16th summit of the Non-Aligned Movement in Tehran, August 30, 2012. REUTERS/Roohollah Vahdati/ISNA (IRAN - Tags: POLITICS) FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS - RTR379P1

Qatar's precarious position between Saudi Arabia, Iran

The recent decline in Saudi-Iranian relations has put GCC members in a bind, in particular Qatar, which for years has tried to maintain diplomatic and economic ties with Iran.