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 prices fall to lowest since January despite Saudi-backed production cut The price decrease could be worrisome for Saudi Arabia and its investment plans. Legacy: Gulf
US unveils sanctions on Turkish businessman over IRGC oil sales The United States designated what it described as an international oil smuggling and money laundering network led by Turkish businessman Sitki Ayan. Turkey
Analysis The Takeaway: Xi's Saudi Arabia trip sends a message to US Plus, the Biden administration gears up for next week’s summit of African leaders and warns that Iran is still fueling Yemen’s war. By Elizabeth Hagedorn In Washington, DC, reporting on diplomacy, regional politics, human rights
Malaysia’s Petronas to explore for 'unconventional oil' in Abu Dhabi Unconventional oil, which is extracted via relatively complex methods, is found in the Western Hemisphere and Russia. Abu Dhabi is also seeking to extract some after successfully obtaining unconventional gas. Legacy: Gulf
China’s Xi heads to Saudi Arabia, adding strain to US ties Xi's visit to Saudi, the first in six years, will include two summits with Arab and GCC leaders and could see an agreement on nuclear technology Legacy: Gulf
OPEC+ decision to maintain production marks end of oil’s turbulent year The Saudi- and Russian-led cartel has both increased and decreased oil production this year, affecting global oil prices and relations with the United States in the process. Legacy: Gulf
International oil assets reported hit as Turkey strikes Syria's Kurdish zone Turkey’s wave of air attacks against Kurdish-controlled northeast Syria have reportedly hit oil assets run by international oil companies. Syria
Iran, Iraq sign $4 billion engineering agreement The deal comes at a notable time in Iran-Iraq relations, as the Islamic Republic continues to threaten and attack Kurdish groups in Iraq. Iran
Saudi Arabia announces new natural gas discoveries The kingdom is already a major oil exporter, but it could also start exporting natural gas in the near future. Legacy: Gulf
Qatar signs deal to sell Germany natural gas The agreement demonstrates the continued significance of Qatar's natural gas, despite pressure to transition to renewable energy. Legacy: Gulf
The Gulf Briefing: swapping petrodollars for assets In this weekly newsletter, Sebastian Castelier rounds up the biggest stories from the Gulf region. Legacy: Gulf
US urges Iran-backed Houthis to halt attacks on Yemen's ports The warning to the Houthis comes as US Special Envoy for Yemen Tim Lenderking returns to the region to push for peace between the country's warring sides. Yemen
