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
Saudi Arabia, UAE, Qatar face uneven 2025 growth as trade tensions rise: IMF While Gulf economies face only the Trump administration’s baseline 10% tariffs, the levies have already impacted oil prices and revenue, especially for rentier states like Saudi Arabia. Saudi Arabia
UAE’s ADNOC inks deal with China’s largest offshore producer as US tariffs bite A third LNG deal has been struck between a Chinese entity and the Abu Dhabi National Oil Company as Beijing scrambles for alternative sources to replace the US supply. United Arab Emirates
Analysis Why low oil prices under Trump are unlikely to curb Middle East output Prices stood around $100 a barrel in 2022, under the Biden administration, but hovered between $63 and $66 this past week. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Qatar and Russia to up investment by $2B as emir visits Moscow Cooperation between Qatar and Russia on energy matters is growing, as Doha seeks to mediate between the Kremlin and Ukraine over the war. Qatar
China's oil imports highest since 2023 amid Iran crude spike: What to know Data from analytics firm Kpler from April 11 showed that Iran’s exports were up 20% from February and at a five-month high. China
Analysis France recalibrates Turkey ties as east Med dynamics shift: What to know After years of strain between France and Turkey, the two countries seem to be seeking rapprochement on regional issues. By Jonathan Fenton-Harvey In London, reporting on North Africa and Gulf politics
Iran oil exports to China soar in March to 1.9M bpd despite US sanctions The United States and Iran will hold negotiations on the Islamic Republic’s nuclear program on Saturday as Tehran hopes to achieve sanctions relief. Iran
UAE's Mubadala makes first US gas play in wave of Gulf LNG investment Other Gulf energy majors such as Saudi Aramco and ADNOC have already made significant investments in US LNG. United Arab Emirates
After steep fall, oil prices slightly recover following Trump tariff pause Over the last week, oil prices have plummeted amid the escalating trade war between the United States and China. Saudi Arabia
Italy's Eni to invest $26B in Egypt, Libya, Algeria energy projects Eni is already a leading foreign energy company in the region, with footholds in Algeria, Egypt and Libya. Libya
Oil prices fall as Gulf economies grapple with Trump’s tariffs: What to know Falling oil prices could negatively impact the budgets of Gulf states and are coinciding with losses in the region’s stock markets. Saudi Arabia
Turkey's Simsek says economy will ride out Trump tariffs without lasting scars Mehmet Simsek stressed that his government’s economic program has made the economy more resilient against internal and external shocks, highlighting that inflation has fallen and continues to drop. Turkey
