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
Oil tops $100 for first time since May after Houthi tanker strikes, Trump threats The Iran-backed rebels said they had targeted two Saudi tankers, the Encelia and the Layla. Yemen
Turkey to begin surveys for planned northern Cyprus gas pipeline The planned 63-mile link is intended to supply gas for electricity generation but has drawn condemnation from the Republic of Cyprus amid rising rivalries in the eastern Mediterranean. Turkey
Houthis warn shipping firms to avoid Saudi ports or face attack: What to know The Houthi militia reportedly emailed multiple shipping companies on Tuesday, warning them of the consequences of visiting Saudi ports. Yemen
As Houthis declare Red Sea blockade on Saudi Arabia, oil markets brace for impact The Iran-backed group said the maritime embargo on the Gulf's biggest crude exporter would be effective immediately. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Oil tops $90 as Iran warns Hormuz 'will not be safe' Tensions escalated further after Iran's Islamic Revolutionary Guard Corps vowed on Monday that not a "single drop" of oil or gas would pass through the Strait of Hormuz. Iran
Analysis What Zaidi's Washington visit means for US investment in Iraq Iraq could greatly benefit from US investment in gas capture, which could help reduce the country's dependence on neighboring Iran. By Adam Lucente In New York City, reporting on regional news, militancy, climate change
Chevron, ConocoPhillips advance Iraq's Hormuz alternatives Oil agreements have been announced or are expected to be signed on Friday, toward the end of Iraqi Prime Minister Ali Al-Zaidi's visit to the United States. Iraq
Interview Why Strait of Hormuz no longer rattles oil markets as much: IMF The fund's Middle East director, Jihad Azour, told Al-Monitor that the big Gulf energy producers now have more capacity to absorb the shock. Jihad Azour Director of the Middle East and Central Asia Department at the International Monetary Fund
Oil prices climb to $85 as US-Iran attacks intensify, Hormuz traffic stalls Brent crude traded at $85.02 a barrel at 11:44 a.m. EDT, up 2.06% from Monday's close after reaching $87.39 earlier on Tuesday. Iran
Syria, US hold first business forum since sanctions relief: What to know The one-day forum in Damascus was organized by Syria’s Ministry of Economy and Industry and the US-Syria Business Council, which was established in Washington last June to advance trade and investment between the two nations. Syria
Oil climbs after US strikes Iran, Trump vows to control Strait of Hormuz US Central Command said in a statement early on Monday that it struck dozens of Iranian targets overnight as Iran targeted American bases across the Gulf. Iran
How Iran war could impact oil markets in 2027 The International Energy Agency forecasts global oil supply will exceed demand by 4.62 million barrels per day in 2027. Iran
