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
New Turkey maritime draft bill fuels EastMed tensions with Greece, Cyprus Turkey’s draft maritime bill seeks to formalize Ankara’s claims in the Aegean, Eastern Mediterranean and Black seas, raising tensions with Greece and Cyprus over contested maritime boundaries and offshore energy rights. Turkey
Syria restores Raqqa oil field in former ISIS stronghold: What to know Before Syria's civil war erupted in 2011, national oil production stood at between 400,000 and 500,00 barrels per day before falling to under 100,000 bpd during the conflict. Syria
US hits China-linked Iran oil trade with sanctions ahead of Trump trip The sanctions come after the United States rejected Iran's latest proposal to end the war. Iran
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
