US extends Russian oil sanctions waiver as Iran war squeezes supply The waiver temporarily lifts sanctions on Russian oil for 30 days. Iran
Analysis Pakistan’s six corridors offer Iran a trade lifeline, could outlast Hormuz crisis By Sabena Siddiqui In Karachi, reporting on South Asia, Middle East, Iran
UAE unveils $5B India investment push during Modi visit: What to know India and the UAE signed deals related to energy supplies and maritime security, further strengthening ties amid the war in the region. United Arab Emirates
UAE to fast-track construction of second oil pipeline, bypassing Hormuz: What to know ADNOC, the UAE's state-owned oil company, has been ordered to prioritize completion of the pipeline to double oil exports through the Gulf Oman. United Arab Emirates
Aramco profits jump 26% as Hormuz disruption chokes supply Aramco CEO Amin Nasser said the market has already lost around 1 billion barrels of oil supply since the US-Israel-Iran war erupted on Feb. 28. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
China’s overland trade routes offer Iran wartime economic lifeline: What to know Cargo rail traffic between China and Iran has reportedly surged since the US blockade began in April as Tehran seeks overland trade alternatives to help buy time. Iran
Egypt ramps up energy investments amid war-driven price pressures Prime Minister Mostafa Madbouly said Wednesday that Egypt has secured commitments exceeding $19 billion from international oil companies over the next three years. Egypt
EU says energy costs tied to Hormuz crisis have surged past $35B Global energy price increases tied to the Hormuz disruption are driving higher import costs in Europe, despite limited reliance on gas flowing through the strait. Iran
Few ships pass Hormuz despite US efforts to break Iran's hold Only four commercial vessels had transited the strait in the 24 hours before Tuesday morning, according to ship-tracking data. Iran
Pentagon says Iran ceasefire continues despite UAE attack "We expected there would be some churn at the beginning," Defense Secretary Pete Hegseth said of the US Navy-led operation to open the Strait of Hormuz to commercial shipping. Iran
Analysis US banking on Iraqi turnaround with nomination of Zaidi as new PM Trump signals hope for a "tremendous new chapter” in US-Iraq ties with the nomination of Ali Al-Zaidi as prime minister. By Week in Review
Oil surges past $120 to war-time high as Trump rejects Iran overture Benchmark Brent crude surpassed $120 per barrel on Wednesday, reaching the highest levels yet seen during the US-Israel-Iran war. Iran
Turkey advances gas pipeline plan to northern Cyprus as East Med rivalry grows The Turkish energy minister said the country's oil and natural gas pipeline operator, BOTAS, has started the engineering work for the pipeline. Turkey
Why UAE's decision to leave OPEC is major shift for cartel The UAE accounts for 12% of OPEC's output, but tensions had been simmering over intragroup rivalries and the country wanting to export more oil. United Arab Emirates
UAE to leave OPEC on May 1 The United Arab Emirates says it will focus more on domestic production amid the US-Israel-Iran war. United Arab Emirates
