Iraq devalues dinar 13% as Hormuz disruption hits oil revenue The central bank said in a statement that it had revised the official exchange rate to 1,520 Iraqi dinars per dollar from around 1,320. Iraq
Explainer Rubio says Iran ‘lost’ Hormuz. Has it? US Secretary of State Marco Rubio said Wednesday that Iran has “lost complete control” of the waterway, pointing to the recovery in Gulf oil exports in September. Iran
Turkey, Pakistan to deploy forces to Saudi Arabia amid Houthi attacks Turkish, Saudi and Pakistani officials agreed to bolster military cooperation under the Mecca defense pact as Houthi attacks and fighting in Yemen intensify. Turkey
Mideast oil exports surpass prewar levels despite pipeline, ship attacks Bloomberg reported on Monday, citing sources, that Saudi Arabia’s key East-West Pipeline was flowing as normal, despite an earlier report that it had closed again following a new attack. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Analysis As Iran’s grip on Hormuz weakens, what leverage does Tehran have left? By A correspondent in Tehran In Tehran, reporting on politics
Landmark $18.7B Santos-ADNOC takeover delayed: What to know Santos said in a statement that the due diligence period, initially set for six weeks, has been extended until Aug. 22. United Arab Emirates
$35B gas deal underscores Egypt’s energy reliance on Israel despite Gaza tensions Israel and Egypt have finalized a $35 billion gas deal that will double Israeli gas exports by 2029, highlighting Cairo’s growing energy dependence on its neighbor, even as political tensions rise over Gaza. Egypt
China's oil imports fall 5.4% as Iranian flows recede from June highs US President Donald Trump has intensified pressure on Iran’s economy, clamping down on its oil sector, a critical component of the state budget. Iran
UAE president heads to Russia to meet Putin as ties grow: What to know UAE President Sheikh Mohammed bin Zayed al-Nahyan is heading to Moscow on Thursday for an official visit, his second in less than a year as Russian-Emirati relations continue to develop rapidly. United Arab Emirates
Iran to close public offices as temperatures pass 105 F: What to know Iranian officials are seeking to reduce public energy consumption as water levels decrease throughout the country and power cuts persist. Iran
Aramco's Q2 profits fall 22% as lower oil prices weigh on earnings Saudi Arabian crude exports have been soaring, hitting a three-month high last month, though oil prices remain low. Saudi Arabia
UAE’s ADNOC inks 10-year gas deal with India: What to know The UAE is seeking to export more gas to India as domestic consumption is projected to rise in the South Asian country. United Arab Emirates
Iran mulls nixing zeros from currency as value plunges: What to know Iran has experienced massive inflation in recent years and is now contending with an energy crisis as well. Iran
Egypt inks offshore oil and gas deals with Eni, BP: What to know Egypt faces growing energy vulnerability due to declining natural gas production and heavy reliance on imported supplies. Egypt
Trump admin unveils largest-to-date Iran sanctions on oil 'shipping empire' The sanctions target more than 115 individuals, entities and vessels that the Treasury Department has linked to a network transporting oil from Iran and Russia. Iran
Turkey to begin natural gas exports to Syria on Aug. 2: What to know Turkey will supply gas via a swap deal with Azerbaijan, backed by Qatar financing, the Turkish energy minister said. Turkey
Turkey secures $2.8B green financing for Azerbaijan railway: What to know The 223-kilometer railway will connect to the existing train route that joins Turkey’s northeastern city of Kars and the Georgian and Azerbaijani capitals of Tbilisi and Baku. Turkey
