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August 8, 2026

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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

A view shows buildings in Doha, Qatar, June 9, 2017. REUTERS/Naseem Zeitoon - RTX39V40

What Iran-Qatar reset means for Syria

Iran adds another “Sunni” power to its regional network; Turkey ponders next moves in Idlib; Israel presents the “big picture” on Iran in Washington and Sochi, Russia; Akiva Eldar on Israel’s silence over Charlottesville.

Hamas Chief Ismail Haniyeh gestures during a news conference in Gaza City May 11, 2017. REUTERS/Mohammed Salem - RTS166IF

Saudi gamble on Hamas could pay off, or enrich rival Iran

The Saudis are increasing pressure on Hamas, which might win them points with US President Donald Trump and Israel, but drive the Palestinian movement and its allies toward Iran.

Iranian pilgrims wait at the Imam Khomeini airport in Tehran as they depart for the annual haj pilgrimage to the holy city of Mecca, in Tehran, Iran, July 31, 2017. Nazanin Tabatabaee Yazdi / TIMA via REUTERS. ATTENTION EDITORS ñ THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. - RTS19T5G

Iranian return to hajj could help end Saudi deadlock

The resumption of Iranian participation in the annual hajj pilgrimage may help pave the way for an end to the diplomatic deadlock between Riyadh and Tehran.

Egypt's Foreign Minister Sameh Shoukry (R) is pictured during a meeting with his Sudanese counterpart Ibrahim Ghandour in Cairo, Egypt June 3, 2017. REUTERS/Mohamed Abd El Ghany - RTX38ST2

Egypt, Sudan stray further apart over Gulf crisis

Egypt is doubling down on its efforts to convince African countries to take a stance against Qatar, while Sudan decided to take a neutral position over the Gulf crisis.

Employees work inside the office of the Qatar-based Al-Jazeera network in Jerusalem August 7, 2017. REUTERS/Ammar Awad - RTS1APS5

Al Jazeera gains from Israel’s attempts to close it

Israeli Prime Minister Benjamin Netanyahu has warned that Al Jazeera's Jerusalem office will be closed, but this is unlikely to affect the network's work or coverage of the Palestinian-Israeli situation.

Palestinians take part in a rally in support of Qatar, inside Qatari-funded construction project 'Hamad City', in the southern Gaza Strip, June 9, 2017. REUTERS/Ibraheem Abu Mustafa - RTX39TF1

Gaza set to become scene of Egypt-Qatar tug of war

The Gaza Strip and Hamas are attracting attention from both sides as the Gulf crisis grows, but they might have to choose between longtime supporter Qatar on one side and the UAE, Egypt and Mohammed Dahlan on the other.

United Arab Emirates

Netanyahu's crusade against Al Jazeera in Jerusalem

In an effort to repair the damage to his image caused by the Temple Mount crisis, Israeli Prime Minister Benjamin Netanyahu announced that he will attempt to shut down Al Jazeera's Israel bureau, again.

An official from Kuwait's interior ministry puts up a poster on July 20, 2017 in a Citizen Service Centre in Kuwait City, of fugitives convicted of belonging to a cell that had been formed and trained by Iran's Revolutionary Guards who were accused of plotting attacks in the state.
Kuwait expelled Iranian diplomats and closed some embassy missions after the emirate's top court convicted a "terror" cell of links to the Islamic republic, prompting Iran to threaten reciprocal measures. / AFP PHOTO / Yasser Al-

Kuwait-Iran diplomatic row could have wide-ranging impact

Kuwait's expulsion of Iranian diplomats over the Abdali terror cell case may affect domestic politics, business deals and Iranian relations with the Gulf Cooperation Council.

Qatari Crown Prince Sheikh Tamim bin Hamad bin Khalifa al-Thani (2ndL) and Turkish President Recep Tayyip Erdogan (L), walk past a guard of honor during an official welcoming ceremony prior to their meeting at the presidential palace in Ankara, Turkey, on December 19, 2014. AFP PHOTO / ADEM ALTAN (Photo credit should read ADEM ALTAN/AFP/Getty Images)

Turkey flexing military muscle in Qatar

Turkey is signaling a shift to "hard power" foreign policy by incrementally building its military presence in Qatar to a brigade-level force.

Oman's Foreign Minister Yusuf bin Alawi waves as he arrives to attend a meeting of Foreign Ministers of the Gulf Cooperation Council (GCC) member states, in Riyadh, Saudi Arabia March 30, 2017. REUTERS/Faisal Al Nasser - RTX33EVF

Trump administration looks to Oman for help navigating Middle East

US officials, while wary about Oman's ties with Iran, seek Oman's assistance in resolving Qatar dispute.

U.S. Secretary of State Rex Tillerson testifies before the Senate Foreign Relations Committee on Capitol Hill in Washington, D.C., U.S., June 13, 2017. REUTERS/Aaron P. Bernstein - RTS16WM2

Tillerson calls on Saudi bloc to lift blockade on Qatar

The US secretary of state, after meeting Omani Foreign Minister Yusuf bin Alawi today in Washington, called for the lifting of the blockade on Qatar as a sign of good faith.

Turkey’s economic dilemma: Win Qatar or lose the Gulf?

By backing Qatar, Turkey faces economic losses in the Gulf but improved economic ties with Iran