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 By Samuel Wendel In Washington, DC, reporting on regional business and tech
Analysis How long can Iran's economy weather US naval blockade? By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Is Russia escalating Jewish Agency crisis because of Israel's stance on Ukraine? Some Israeli security and diplomatic experts believe that Russian President Vladimir Putin instigated the Jewish Agency crisis to pressure Israel against selling natural gas to Europe. Israel
Saudi Aramco acquires lubricant giant Valvoline Aramco has been investing in futuristic technology amid high oil prices and profits. Legacy: Gulf
Turkey raises inflation forecasts The Turkish lira is also again falling close to historically low levels against the US dollar. Turkey
Turkey, Russia gas ties grow contentious amid Ukraine war Russian gas giant Gazprom’s sudden “maintenance" shutdown of a major pipeline carrying gas to Turkey coincided with the talks over Finland's and Sweden’s NATO membership bids. Turkey
Iran says US dollar officially ditched in trade with ally Russia The Islamic Republic took the step following the Russian president's meeting with Iran's leader in Tehran, where the two explored options on how to push back on international sanctions. Iran
Kadhimi, Barzani meet in Baghdad to address oil, budget issues Masrour Barzani, prime minister of the Kurdistan Regional Government of Iraq, met July 24 with Iraqi officials in Baghdad, including Iraqi Prime Minister Mustafa al-Kadhimi, reportedly discussing the establishment of a new energy government for the Kurdistan Region. By AL-MONITOR Staff
Jordan increases renewable energy use Jordan does not have large oil and gas reserves, unlike other countries in the region. Jordan
Hezbollah, Israel tensions heat up over border US-led mediation over Israel's maritime borders with Lebanon complicated by border tensions with Israel. Israel
Abu Dhabi National Oil Company to work with France’s TotalEnergies on carbon capture The deal came during UAE President Sheikh Mohammed bin Zayed Al Nahyan’s visit to France, where he strengthened energy relations with the European country. The two countries have grown closer over Libya and energy exploration in the Eastern Mediterranean. Legacy: Gulf
Russia to invest $40 billion in Iran’s oil sector The news came during Russian President Vladimir Putin’s visit to Iran and may have been motivated by US sanctions. Iran
Venture capital investments in Saudi startups triple to $584 million Saudi Arabia is proud of its emerging startup scene, but oil remains the bedrock of the Saudi economy. Legacy: Gulf
Explainer: Libya exports oil to Italy after end of shutdown in east Tribes affiliated with Gen. Khalifa Hifter, who fought the government during the civil war, closed several oil fields due to a dispute with Libya’s state oil company. North Africa
