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
Why UAE's decision to leave OPEC is major shift for cartel The UAE accounts for 12% of OPEC's output, but tensions had been simmering over intragroup rivalries and the country wanting to export more oil. United Arab Emirates
UAE to leave OPEC on May 1 The United Arab Emirates says it will focus more on domestic production amid the US-Israel-Iran war. United Arab Emirates
Why did the Met Opera lose its Saudi funding deal? The deal, announced as a nonbinding memorandum of understanding last September, would have seen the PIF inject up to $200 million into the opera institution over the next eight years. Saudi Arabia
Which airlines are cutting flights amid Hormuz fuel disruption? European and Asian airlines have been most impacted by the closure of the Strait of Hormuz, which is throttling jet fuel supplies. Iran
How are Iran-linked tankers still moving through Hormuz blockade? At least 19 Iran-linked tankers have passed through the US blockade on the strait to exit the Gulf while at least 15 have entered, according to the cargo-tracking group Vortexa. Iran
Iran seizes two cargo ships in Hormuz after Trump extends ceasefire The IRGC Navy’s seizure of two cargo vessels follows US Navy interdictions of two Iran-linked crude oil tankers in the Arabian Sea and the Indian Ocean earlier this week. Iran
Analysis Gulf energy deals face Iran war stress test as global expansion meets oil shock ADNOC, Aramco and QatarEnergy have aggressively expanded their international portfolios in recent years, a strategy facing new constraints as the US-Israel-Iran war impacts Gulf production and exposes structural risks. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Oil rises, Gulf stocks slide after Iran ship seizure throws truce into doubt In a post on Truth Social on Sunday, US President Donald Trump said the US Navy fired at and seized an Iranian-flagged cargo ship in the Gulf of Oman. Iran
Analysis How long can Iran's economy weather US naval blockade? Analysts believe the blockade will choke exports for essential items coming into Iran, like food and medicines. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Why are Wall Street banks posting record profits amid Iran war? The US-Israel-Iran war has roiled the global economy since Feb. 28, but the resulting market volatility has boosted trading profits for some. Iran
As US blockades Hormuz, China urges restraint, rejects call to ditch Iran oil Beijing and Ankara called for calm as the US began its blockade of the Strait of Hormuz as regional diplomacy over the fragile ceasefire intensifies. Iran
