Economy and trade

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US stock markets soar to new records amid Hormuz deal hopes

The S&P 500, Nasdaq Composite and Dow Jones Industrial Average are on track for their best five-day performance since April 2025.

Iranian Foreign Minister Abbas Araghchi (L), Iranian parliament speaker Mohammad Bagher Ghalibaf (2nd L) and Omani Foreign Minister Badr bin Hamad Al Busaidi (R) attend a meeting in Muscat, Oman, on June 22, 2026.

Explainer

Iran-Oman Hormuz route talks near 'completion': What to know

The new framework would give Iran a greater role in managing one of the world’s most strategically important maritime choke points.

JOSEPH EID/AFP via Getty Images

Lebanon’s Riad Salameh hospitalized as arrest roils Beirut: What to know

Lebanon's former Central Bank governor, Riad Salameh, was taken from prison to a hospital over his deteriorating health.

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.

Latest News

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

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.

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

AMIRHOSSEIN KHORGOOEI / ISNA / AFP via Getty Images

Explainer

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

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.

United Arab Emirates

Explainer

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

Win McNamee/Getty Images

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.

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.

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

Explainer

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

While its supporters say the scheme would help Lebanon's economy recover, critics say it could offer a channel for corruption.

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

Explainer

Qatar blast underscores challenges in race to restart Gulf energy flows

The deadly explosion marks an early test of Gulf efforts to revive oil and gas production following a historic energy supply shock caused by the US-Israel-Iran war.

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

Interview

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

As Washington focuses on war and deterrence, the Egyptian-American Enterprise Fund argues private-sector investment can advance US strategic interests.

Cornelius Queen

Cornelius Queen

Senior Vice President of the Egyptian-American Enterprise Fund

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

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

International benchmark Brent crude fell to $78.68 as of 7:06 a.m. EDT.

A woman walks past a billboard displaying Iran's national flag at Enghelab Square in Tehran on June 14, 2026.

Analysis

US-Iran deal delivers $300 billion controversy, reconstruction questions

Under the US-Iran agreement signed on June 17, Tehran stands to receive sweeping sanctions relief, renewed oil sales, access to frozen assets abroad and perhaps the most controversial incentive of all: a proposed $300 billion investment fund.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech