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July 7, 2026

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Oil tankers and cargo vessels are anchored off the coast of Oman after being stranded for days as congestion at Port Sultan Qaboos has prevented them from docking on June 23, 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 reo

Oil prices ease as OPEC+ increases production, Hormuz traffic rebounds

Brent crude, the international benchmark, fell 0.15% to $71.87 a barrel as of 8:07 a.m. EDT after dropping as low as $71.09 earlier in the session, its lowest level since before the US-Israel-Iran war began on Feb. 28.

A man walks past the flags of the countries attending the Gulf Cooperation Council summit at Bayan palace in Kuwait City on Dec. 5, 2017.

Analysis

How Iran war shaped divergent paths to security among GCC states

The Iran war left the Gulf more fragmented than united, with competing security strategies replacing any prospect of a common regional defense.

Sabena Siddiqui

By Sabena Siddiqui

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

Oil drilling near Dakhiliyah in the desert region of Hasakah, Syria, Jan. 25, 2026.

Syria launches gas project with Saudi firm in latest Gulf energy partnership

The project is the latest in a series of Gulf-backed investments aimed at rebuilding Syria's energy sector after the ouster of President Bashar al-Assad in December 2024.

Crude oil tankers, bulk carriers and vessels sit anchored around Qaboos Port on June 22, 2026, in Muscat, Oman.

Oil falls below $71 as US-Iran talks continue, Gulf exports rebound

Qatar’s Foreign Ministry spokesperson said in an X post on Wednesday that Iran and the United States had made "positive progress."

Latest News

Explainer

Saudi FM concludes China visit amid Trump-MBS friction: What to know

China's Foreign Minister Wang Yi (R) shakes hands with Saudi Arabia's Foreign Minister Prince Faisal bin Farhan Al-Saud before a family photo for the attendees of a meeting of foreign ministers from Arab and Muslim-majority nations at the Diaoyutai State Guest House in Beijing on November 20, 2023. The international community must take urgent action to stop the "humanitarian disaster" unfolding in Gaza, Chinese Foreign Minister Wang Yi told visiting diplomats from Arab and Muslim-majority nations on Novembe

Saudi Arabia's FM heads to China amid differences with US on Iran war

PEDRO PARDO/AFP via Getty Images

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

Jack Dutton

Chief Business Correspondent

In Bristol, reporting on regional business, climate change, AI, tech

Francesco Schiavi

In Bologna, reporting on security, defense, economy, governance

Sabena Siddiqui

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

Vanessa Ghanem

In Dubai, reporting on business, energy and politics

An undated picture taken in 2016 shows a man walking past images of executed Shiite cleric Nimr al-Nimr on a wall in the Awamiya area in Saudi Arabia's Eastern province.

In a Sunni-majority kingdom where banners of King Salman, his crown prince and deputy crown prince are widely displayed, the homage paid to Nimr is unusual and provocative.

/ AFP / STRINGER (Photo credit should read STRINGER/AFP/Getty Images)

Trump pressed to punish Saudi Arabia over religious intolerance

A federal commission on religious freedom wants the president to end a decadelong pass for Riyadh.

Case of runaway sisters highlights ongoing plight of Saudi women

After their case made international headlines this month, one of the Saudi sisters who fled abroad spoke to Al-Monitor about the kingdom’s “flawed justice system” and called on the leadership to carry through with better reforms.

Qatar's Emir Sheikh Tamim bin Hamad al-Thani speaks to the country's consultative Shoura council in Doha, Qatar, November 6, 2018. Qatar News Agency/Handout via REUTERS ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY. - RC1FF5F57E20

Qatar’s first elections since 2017 reveal unexpected impact of GCC crisis

Turnout in the Qatari municipal elections has declined, suggesting a Qatari citizenry that is slightly less engaged in the formal political process in the wake of the GCC crisis.

Iran's Supreme Leader Ayatollah Ali Khamenei delivers a speech during a ceremony marking the death anniversary of the founder of the Islamic Republic Ayatollah Ruhollah Khomeini, in Tehran, Iran, June 4, 2017. TIMA via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. FOR EDITORIAL USE ONLY. - RC16ADBF0A50

Iran leadership shrugs off US oil sanctions, pledges response

Iran's supreme leader says the US plan to cap the flow of his country's oil will lead nowhere, pledging a "response to the US hostility."

Oman’s rising diplomatic role in Yemen met with mixed reaction in GCC

Oman's strategy of constructive engagement with the Houthis has been met with pushback from Saudi Arabia and the UAE.

Turkish Foreign Minister Mevlut Cavusoglu (C) and Iranian Foreign Minister Mohammad Javad Zarif (2L) give a press conference in Ankara, Turkey, on April 17, 2019. (Photo by Adem ALTAN / AFP) (Photo credit should read ADEM ALTAN/AFP/Getty Images)

Iran sets up trade vehicle with Turkey as Saudi, UAE send flood aid

Iranian Foreign Minister Mohammad Javad Zarif said relations with Turkey are the best they’ve been in decades, while Rouhani struck a conciliatory tone amid Saudi and Emirati flood aid.

Sudan’s President Omer Al Bashir welcomes Turkey's President Recep Tayyip Erdogan at Khartoum Airport, Sudan December 24, 2017. REUTERS/Mohamed Nureldin Abdallah - RC1EBBF69470

Erdogan claims Sudanese coup actually targeted Turkey

Now that the Sudanese military has ousted the president who ruled there for three decades, it will be interesting to see how the new administration will approach Omar al-Bashir's longtime friend, Turkish President Recep Tayyip Erdogan.

A man walks past a currency exchange bureau advertisement showing images of the U.S. dollar and other currencies in Cairo, Egypt, April 2, 2019. REUTERS/Mohamed Abd El Ghany - RC1BF9442E80

Is debt answer to Middle East economic troubles?

The forecast for growth across the Middle East and North Africa is bleak. Unfortunately for the regions, heavy debt appears to be one way out.

Tunisian President Beji Caid Essebsi stands with Saudi Arabia's King Salman bin Abdulaziz and Emir of Kuwait Sabah Al-Ahmad Al-Jaber Al-Sabah during the group photo with Arab leaders, ahead of the 30th Arab Summit in Tunis, Tunisia March 31, 2019. REUTERS/Zoubeir Souissi/Pool - RC17FA0F57C0

King Salman is back in the saddle

With the crown prince's international reputation tarnished, King Salman of Saudi Arabia has stepped in and resumed traveling, hoping to regain control of the kingdom's image abroad.

A supporter of the Houthi movement looks as he holds up a rifle during a rally to mark the 4th anniversary of the Saudi-led military intervention in Yemen's war, in Sanaa, Yemen March 26, 2019. REUTERS/Khaled Abdullah - RC1A7AFBD220

Congress stares down Trump on Yemen war

After five votes, Congress has finally passed a bill ending US support for the Saudi-led coalition fighting in Yemen, but it faces a likely veto from President Donald Trump.

Retired four-star Army General John Abizaid testifies before the Senate Foreign Relations Committee during his confirmation hearing to be U.S. ambassador to Saudi Arabia on Capitol Hill in Washington, U.S., March 6, 2019. REUTERS/Kevin Lamarque - RC1BE3EFCA20

Intel: How the US is filling diplomatic gap with picks for Saudi Arabia, Iraq, Libya

Representative Brad Sherman (D-CA) questions Federal Reserve Chairman Janet Yellen as she delivers the semi-annual testimony on the "Federal Reserve's Supervision and Regulation of the Financial System" before the House Financial Services Committee in Washington, U.S., September 28, 2016. REUTERS/Joshua Roberts - D1BEUDXPKMAA

Intel: How Trump administration is using loophole to transfer nuclear technology to Saudi Arabia