Saudi Arabia and the UAE open trade corridor bypassing Hormuz

Saudi Arabia and the United Arab Emirates have launched a new trade route linking Sharjah to Dammam, opening a multimodal corridor designed to keep goods moving as shipping risks rise across the Gulf. The project was announced on March 23 by Saudi Ports Authority, known as Mawani, and comes as commercial navigation through the Strait of Hormuz......

IAEA chief says war cannot eliminate Iran nuclear program

The head of the United Nations nuclear watchdog has warned that military action cannot fully dismantle Iran’s nuclear program, stressing that only diplomacy can address the long-term risks. Rafael Grossi, director general of the International Atomic Energy Agency, told CBS News that no conventional war could erase Iran’s nuclear......

Bitcoin miners face greater risk from falling BTC price than oil surge

Bitcoin mining companies are more vulnerable to fluctuations in the price of Bitcoin than to rising electricity costs triggered by higher oil prices, according to a new analysis examining the impact of the Iran related oil shock on the cryptocurrency industry. A report released this week by Luxor Technology’s Hashrate Index found that......

Iran warns oil could reach $200 as attacks disrupt shipping in Hormuz

Iran’s military leadership warned that global oil prices could surge to $200 per barrel as Iranian forces intensified attacks on commercial shipping near the Strait of Hormuz, escalating a maritime crisis that threatens one of the world’s most critical energy routes. Ebrahim Zolfaqari, spokesperson for Iran’s Khatam al-Anbiya......

KLM suspends Dubai flights until March 28 amid Middle East conflict

Dutch airline KLM said Wednesday it will cancel all flights to and from Dubai until March 28 as the conflict affecting the Middle East continues to disrupt aviation routes across the region. In a statement, the airline said the decision was taken because of ongoing instability in the region. “Due to the persistent unrest in the Middle......

Middle East Airlines updates weekend flight schedule amid ongoing regional conflict

Middle East Airlines (MEA), Lebanon’s national carrier, has released an updated flight schedule for the weekend as tensions continue to escalate in the Middle East. The announcement comes roughly a week after the outbreak of a new phase of hostilities in the region. Despite the volatile security situation, Lebanon’s main aviation......

Italy plans air defense aid for Gulf states after Iranian strikes

Italian Prime Minister Giorgia Meloni said Rome intends to provide air defense assistance to Gulf states affected by Iranian retaliatory strikes, joining the United Kingdom, France and Germany in pledging military support to the region. Speaking to Italian radio station RTL 102.5 on March 5, Meloni said the planned assistance would focus......

Middle East Airlines adds extra Istanbul flights amid regional airspace disruptions

Lebanon’s national carrier, Middle East Airlines, has announced additional flights between Beirut and Istanbul as part of temporary adjustments to its schedule this week. The changes come as several countries across the region close their airspace following the escalation of hostilities involving the United States, Israel and Iran. Lebanon,......

Tanker traffic falls to zero in Strait of Hormuz amid Iran threats

Global oil shipping through the Strait of Hormuz has effectively halted after Iran’s Islamic Revolutionary Guard Corps declared the strategic waterway closed and threatened to attack any vessel attempting to pass, sending shockwaves through global energy markets. The crisis began on February 28 following coordinated air strikes by the......

US expands evacuations from Saudi Arabia and Oman after Iran strikes diplomatic sites

The United States has expanded evacuation efforts across the Middle East after Iranian drone strikes targeted American diplomatic facilities in Saudi Arabia and the United Arab Emirates, marking a further escalation in the growing military confrontation between Washington and Tehran. Iranian drones struck the U.S. embassy compound in Riyadh......

Italy summons Iranian ambassador after drone strike on Cyprus

Italy has summoned the ambassador of Iran following a drone attack targeting a British military base in Cyprus, in a move that underscores mounting diplomatic tensions across the region. According to Italy’s Foreign Ministry, the decision to call in the Iranian envoy was intended to formally protest the strike, which reportedly involved......

Global finance braces for mounting Iran crisis risks

Banks, hedge funds and insurers spent the weekend racing to map out their exposure to the Middle East as the escalating confrontation between Iran, the United States and Israel disrupted markets, travel and business operations across the Gulf. The latest round of strikes, which hit targets in the United Arab Emirates and other Gulf states,......

Iran drone strike on Ras Tanura refinery deepens Gulf energy shock

An Iranian drone strike on Saudi Aramco’s Ras Tanura refinery has forced a precautionary shutdown at one of the world’s most important oil facilities, intensifying concerns over a wider regional conflict and global energy security. The attack ignited a limited fire that was brought under control, and there were no immediate reports......

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