Economy and trade

AFP via Getty Images

Traffic plummets through Strait of Hormuz after Iran, US trade fire

Shipping through the Strait of Hormuz had recovered somewhat before renewed fighting between Iran and the United States saw traffic drop sharply over the weekend.

A student attends a training seminar at the Tourism Ministry Training center in the city of Riyadh on August 30, 2022.

Interview

Saudi labor localization will take ‘generation or two': Armada CEO

Around 70% of Saudi Arabia's population is 35 years old or younger, according to the kingdom’s General Authority for Statistics, providing ample opportunity for an educated and technology-savvy national workforce in the coming decades.

Olivier Badard

CEO of Armada Holding

A tourist boat passes near crude oil tankers, bulk carriers, and other vessels anchored off Port Sultan Qaboos in Muscat, Oman, June 19, 2026.

Analysis

Why the Hormuz oil shock never became an energy catastrophe

The US-Israel-Iran war produced a historic oil supply shock but not a severe global economic crisis, due to ample prewar supplies, China's energy pivot and strategic reserve releases.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Elke Scholiers/Getty Images

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.

Latest News

Explainer

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

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

Explainer

Qatar blast underscores challenges in race to restart Gulf energy flows

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

Interview

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

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

Cornelius Queen

Cornelius Queen

Senior Vice President of the Egyptian-American Enterprise Fund

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

A vendor sells fruits at the central market during the Muslim Holy Month of Ramadan, Rabat, Morocco, May 6, 2020.

Imports up pressure on Morocco’s foreign reserves

Energy and food imports alongside a growing trade deficit put pressure on Morocco’s foreign currency reserves.

Osama Rabie, chairman of the Suez Canal Authority, speaks during a press conference after the release of the Panama-flagged MV Ever Given container ship, in the canal's central city of Ismailia, Egypt, July 5, 2021.

Suez, Panama canals sign cooperation agreement to boost investments

The Suez and Panama canals’ economic zones seek to attract more investments through a cooperation agreement to exchange experiences and information.

People queue to buy olive oil, which is sold cheaply by the Agricultural Products Office, Ankara, Turkey, Feb. 17, 2022.

Egypt, Turkey hold firm on interest rates

Turkish President Recep Tayyip Erdogan is adamantly opposed to raising interest rates, but some observers expected Egypt to raise rates in line with Gulf banks and the US Federal Reserve.

Egypt industry

Egypt, Saudi Arabia sign economic agreements worth $7.7 billion

Saudi Arabia intends to invest about $8 billion in various economic sectors in Egypt, which will ease the Egyptian economy's wheels amid the global crisis.

Egypt's President Abdel Fattah al-Sisi (L) and Russia's President Vladimir Putin (R).

Egypt participates in Russian economic forum

Egyptian President Abdel Fattah al-Sisi delivered a virtual speech at the opening session, stressing the need to find "effective solutions" to the global economic crisis.

A picture taken on Sept. 29, 2021, shows Russian tourists in the Egyptian Red Sea resort of Sharm el-Sheikh.

Egypt looks for upsurge in tourists from sanctions-hit Russia

Cairo and Moscow are holding talks to allow the Russian payment system MIR in Red Sea resorts.

This picture taken on Feb. 22, 2021, shows a view of vehicles in the Sayeda Aisha district of Egypt's capital, Cairo.

Egypt’s car industry suffers under dollar crisis

Car prices experienced a steep spike in Egypt over the past months as the dollar rose against the Egyptian pound and import restrictions were imposed amidst a decline in supply and a redirection of Egypt’s market shares to other countries.

Egypt's President Abdel Fattah al-Sisi (R) stands with Congolese President Felix Tshisekedi (L).

Egypt, Congo boost ties with electricity deal

Egypt and the Democratic Republic of the Congo agreed to partner in the field of electricity as part of Egypt’s plan to boost its presence in the African continent amid the stalled talks on the Grand Ethiopian Renaissance Dam crisis.

European Commission President Ursula von der Leyen (4th-R) poses for a group photo with the EU Commissioner for Energy Kadri Simson (6th-R), Egypt's Minister of Petroleum Tarek el-Mulla (5th-R), Israeli Minister of Energy Karine Elharrar (3rd-R) and other officials during the signing ceremony of a trilateral natural gas deal during the ministerial meeting of the East Mediterranean Gas Forum, Cairo, Egypt, June 15, 2022.

Egypt looks for boost from gas deal with Israel, EU

The EU, Egypt and Israel signed an agreement for the export of natural gas to Europe, which would reduce the latter’s dependence on Russian gas.

Shaked

Israeli minister backs Moroccan claims to Western Sahara sovereignty

On a first official visit to Morocco, Interior Minister Ayelet Shaked said Israel recognized Morocco’s sovereignty over the Western Sahara, and stated Israel’s intention to enable Moroccans to work in Israel in the construction and nursing sectors.

Jordan's King Abdullah II (L) and Saudi Crown Prince Mohammed bin Salman.

Saudi Arabia, Jordan strengthen ties with energy, mining deals

Saudi Arabia is now a major investor in Jordan.

Saudi King Salman bin Abdul-Aziz Al Saud (C) and Crown Prince Mohammed bin Salman (R) are seen receiving Egyptian President Abdel Fattah al-Sisi, Riyadh, Saudi Arabia, March 8, 2022.

Egypt, Saudi Arabia sign agreements on green hydrogen, infrastructure

The deals came during Saudi Crown Prince Mohammed bin Salman’s visit to Egypt.