Economy and trade

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Oil falls below $74 as Hormuz traffic recovers after Iran war

Brent crude, the international benchmark for oil prices, was trading at $73.81 a barrel at 10:40 a.m. EDT, down 4.2% from Tuesday's close.

A picture shows the four seasons hotel in Beirut with the snow covered mountain of Sannine in the background on March 8, 2019.

Explainer

Lebanon advances controversial $500K golden visa law: What to know

While its supporters say the scheme would help Lebanon's economy recover, critics say it could offer a channel for corruption.

Qatar's Energy Minister and CEO of QatarEnergy Saad Sherida al-Kaabi speaks during a press conference in Doha on June 22, 2026.

Explainer

Qatar blast underscores challenges in race to restart Gulf energy flows

The deadly explosion marks an early test of Gulf efforts to revive oil and gas production following a historic energy supply shock caused by the US-Israel-Iran war.

A worker counts banknotes after filling up the tank of a vehicle at a petrol station in Giza on March 10, 2026.

Interview

US-Egypt fund makes case for economic statecraft in hard power era

As Washington focuses on war and deterrence, the Egyptian-American Enterprise Fund argues private-sector investment can advance US strategic interests.

Cornelius Queen

Cornelius Queen

Senior Vice President of the Egyptian-American Enterprise Fund

Latest News

Oil falls more than 3% after Iran, US signal progress in talks

MUSCAT, OMAN - JUNE 21: Oil tankers and cargo vessels remain anchored off Port Sultan Qaboos around Qaboos Port on June 21, 2026 in Muscat, Oman. The Strait of Hormuz, a vital shipping route for the region's oil and gas, was effectively blockaded since the outbreak of war between the United States and Iran in late February. This week's provisional peace deal between the countries was meant to reopen the waterway to shipping traffic, but the pace of that reopening is unclear amid continued fighting in Lebano

Analysis

US-Iran deal delivers $300 billion controversy, reconstruction questions

A woman walks past a billboard displaying Iran's national flag at Enghelab Square in Tehran on June 14, 2026.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Interview

Franco-Gulf investment holds firm despite Iran war, French official says

French Trade & Invest Commissioner for United Arab Emirates and Middle East and Business France's regional director for the Middle East Axel Baroux. — Business France

Axel Baroux

France’s trade and investment commissioner for the UAE and Middle East

Gulf investment to turn inward to rebuild postwar infrastructure: QNB

A picture taken on June 5, 2017, shows a man walking past the Qatar National Bank branch in the Saudi capital Riyadh.

US President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025, in Washington.

From Iraq to Algeria, Trump’s looming tariffs could target 4 MENA countries

The United States has a trade deficit with Iraq, Algeria, Libya and Tunisia, according to the US government, prompting the president to send them letters warning of new tariffs.

UAE President Sheikh Mohamed bin Zayed al-Nahyan with Azerbaijan's President Ilham Aliyev at Shati Palace in Abu Dhabi.

UAE, Azerbaijan sign trade deal as officials meet in Abu Dhabi for Armenia peace talks

The deal is expected to contribute around $680 million to the UAE’s gross domestic product by 2031, according to UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi.

United Arab Emirates

Egypt's Prime Minister Mustafa Madbouly (L) welcomes China's Premier Li Qiang upon his arrival at Cairo International Airport in Egypt's capital, on July 9, 2025.

China’s premier makes first visit to Egypt as ties grow: What we know

Egypt and China have significantly deepened their ties in recent years across various sectors such as trade, defense, technology and the economy.

Iran's Foreign Minister Abbas Araghchi, Egypt's Prime Minister Mostafa Madbouly, and Indonesia's President Prabowo Subianto pose for a family photo.

Egypt urges BRICS to deepen financial ties after Trump threatens tariffs

Egyptian Prime Minister Mustafa Madbouly said that due to the global decline in multilateralism and crises engulfing the world, members of the bloc of developing nations should bolster their financial and economic ties.

Hisham Ezz Al Arab CIB CEO

Interview

How Red Sea attacks prepared Egypt’s economy for future shocks

The CEO of Egypt's third-largest bank tells Al-Monitor why he is hopeful about the country's economic recovery.

Hisham Ezz Al-Arab

Hisham Ezz Al-Arab

CEO, Commercial International Bank

General view of the opening session of the 11th BRICS Parliamentary Forum at the Federal Senate in Brazil, taken on June 4, 2025.

Analysis

At Brazil summit, BRICS welcomes new Middle East members as divisions continue

A year after formally joining at the Kazan summit, Iran, Egypt and the UAE attend their first BRICS summit hosted outside Russia — as Saudi Arabia continues to weigh whether to join.

Sabena Siddiqui

By Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

This photo shows Ras Laffan Industrial City, Qatar's principal site for production of liquefied natural gas and gas-to-liquid, administrated by Qatar Petroleum, some 80 kilometers (50 miles) north of the capital, Doha, Qatar, Feb. 6, 2017.

Analysis

Gulf bets on LNG boom power ahead amid regional energy shifts, war risks

Gulf oil powers are emerging as key LNG players, leveraging rising consumer demand to justify strategic global gas investments and to scale up their own LNG production at home.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Iranian rial banknotes bearing a portrait of the late founder of the Islamic Republic of Iran, Ayatollah Ruhollah Khomeini, sit on the stand of an Iraqi money dealer on June 19, 2014, in Arbil, Iraq.

Iran’s rial falls by 3% as Tehran grapples with war aftermath

The rial has fallen considerably since May, as officials lash out against the US despite the recent conflict coming to a close.

CORRECTION / A picture taken in Riyadh shows the sign in Arabic of an Aramco gas station on the outskirts of the Saudi capital Riyadh on November 5, 2024. Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on November 5, 2024, citing low oil prices. (Photo by Fayez Nureldine / AFP) / "The erroneous mention[s] appearing in the metadata of this photo by Fayez Nureldine has been modified in AFP systems in the following manner: changing the second phrase to refer to Saudi

Saudi PIF reports 60% profit drop as inflation, low oil prices bite

The PIF said that the impairments were mainly related to changes in operational plans and increases in budgeted costs.

The sun sets behind overhead power lines in Kuwait City as the Kuwaiti Ministry of Electricity requested that citizens ration their electricity usage at peak times due to outages, on June 19, 2024.

Analysis

Kuwait's heatwaves, high demand strain fragile power grid: What to know

Amid rising temperatures and increasing demand, Kuwait's energy crisis is forcing authorities to seek alternatives and consider reforms.

Sebastian Castelier

By Sebastian Castelier

In Dubai, reporting on regional business

Former French Prime Minister Dominique de Villepin arrives to attend a church service for former French President Jacques Chirac at the Saint-Sulpice church in Paris on September 30, 2019. - Former French President Jacques Chirac died on September 26, 2019 at the age of 86.

Interview

Former French PM says Trump has ‘immense opportunity’ in Mideast

Dominique de Villepin, who recently announced a new political party, says in an exclusive written interview with Al-Monitor that France has a vital role to play in promoting regional cooperation.

Dominique de Villepin

Dominique de Villepin

Former French prime minister

Portraits of Iranian military generals and nuclear scientists, killed in Israel's June 13 attack are displayed above a road, as a plume of heavy smoke and fire rise from an oil refinery in southern Tehran, after it was hit in an overnight Israeli strike, on June 15, 2025.

Analysis

Israel-Iran war fuels risks for Mideast economies, energy flows after US strikes

The global economic fallout from the Israel-Iran clash has been limited but US strikes are adding to the risk.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech