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August 6, 2026

Doha 11:53 am

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Explainer

Qatar launches diamond exchange as Hormuz crisis chokes LNG exports

Qatar's new diamond exchange is an effort to diversify from the country's main exports, LNG and petroleum products, which have been severely cut as a result of the Iran war and the Strait of Hormuz crisis.

A ship sails off the coast of Ajman on July 10, 2026.

Interview

Why Strait of Hormuz no longer rattles oil markets as much: IMF

The fund's Middle East director, Jihad Azour, told Al-Monitor that the big Gulf energy producers now have more capacity to absorb the shock.

Jihad Azour

Jihad Azour

Director of the Middle East and Central Asia Department at the International Monetary Fund

Latest News

Oil soars more than 6% as Trump rules out Iran deal, threatens more strikes

A cargo ship is pictured off coast of the Khor Fakkan Container Terminal, the only natural deep-sea port in the region and one of the major container ports in Sharjah Emirate, along the Gulf of Oman on June 28, 2026.

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Vanessa Ghanem

In Dubai, reporting on business, energy and politics

Karen Young

In Washington, DC, reporting on regional energy

Reve Chaaban

In Doha reporting on culture

In this frame grab taken from a video, missiles and air-defense interceptors illuminate the night sky over Doha after Iran launched an attack on US forces at Al Udeid Air Base on June 23, 2025, in Doha, Qatar.

Trump announces Iran-Israel ceasefire as IRGC targets Qatar's Al-Udeid

The US president announced a ceasefire between Iran and Israe would start Tuesday 6:02 p.m. EST (1:02 a.m. Tel Aviv; 1:32 a.m. Tehran Wednesday) after 11 days of fighting.

Members of the Petroleum Oils and Lubricants squadron at the 379th Air Expeditionary Wing take a break from replacing a 50,000-gallon fuel bladder in support of Operation Enduring Freedom, on Dec. 30, 2002, in Al Udeid, Qatar.

No initial US casualties in Iran’s strike on US base in Qatar: Pentagon

Limited Iranian retaliation at the partially evacuated air base could leave off-ramp for political leaders on both sides.

Majid Saeedi/Getty Images

US Embassy in Qatar tells Americans to shelter in place as Iran plans retaliation

Qatar also announced the temporary suspension of air traffic as a precautionary measure.

Muslim worshippers make their way towards the Kaaba, Islam's holiest shrine, at the Grand Mosque complex in in the holy city of Mecca to take part in morning prayers on the first day of Eid Al-Adha, the feast of the sacrifice, early on June 6, 2025.

Culture

In photos: Muslims kick off Eid al-Adha across the Middle East

The holiday’s arrival cast a spotlight on deepening humanitarian crises, leadership transitions and shifting regional dynamics.

Minister of Foreign Affairs and Expatriates Asaad Al-Shaibani met with Prime Minister and Minister of Foreign Affairs of Qatar Sheikh Mohammed bin Abdulrahman Al Thani in the Qatari capital, Doha, on June 3, 2025.

Syria courts Gulf investment with high-level Qatar visit amid $7B energy deal

Led by the country’s top diplomat, Syria’s ministers of energy, finance and tourism held a series of meetings in Qatar on Tuesday.

Syria electrical poles

Qatari-led consortium signs $7B deal with Syria for 5,000 MW of electricity

Syria’s electricity grid needs extensive expansion after 14 years of civil war.

This picture shows a Syrian Arab Airlines Airbus A320-200 aircraft and the control tower at Damascus international airport as the new Syrian authorities prepare to reopen it, on December 16, 2024.

Saudi Arabia's flyadeal joins growing list of airlines flying to Syria

Several regional airlines have resumed or plan to resume flights to Syria.