Saturday 28 March 2026 - 09:50
Saturday 28 March 2026 - 09:49
Iran has likely collected hundreds of millions of dollars in additional oil revenue since the U.S.-Israeli military campaign began on February 28, exploiting its unique position as the only major Persian Gulf producer still able to ship crude through the Strait of Hormuz. The windfall represents a central paradox of the conflict: the war has......
Freight rates for tankers carrying Saudi crude from Yanbu on the Red Sea to Asia collapsed this week. They fell from over $450,000 per day in early March to about $200,000 per day. A growing fleet converged on this Saudi export hub after the Strait of Hormuz closure disrupted global oil logistics. The drop marks a shift one month into chaos......
Oman’s foreign minister Badr al Busaidi has stated that Iran is not responsible for the conflict now entering its fourth week, in a rare public stance that underscores divisions within the Gulf and highlights Muscat’s continued role as a diplomatic intermediary. In a message posted on X, al Busaidi said the war was not initiated......
The global energy market is facing its most severe disruption in decades, with the International Energy Agency warning that the oil crisis triggered by the Iran conflict now surpasses the scale of the shocks seen in the 1970s. Nearly a month after hostilities began on February 28, the closure of the Strait of Hormuz has sharply curtailed......
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......
Air France has announced an extension of the suspension of its flights to and from Dubai and Riyadh until March 31, and to and from Tel Aviv and Beirut until April 4. The airline cited security concerns at these destinations and the closure of certain airspaces as the main reasons for the continued suspension. Passengers affected by the......
US cybersecurity authorities have ordered federal agencies to urgently patch critical iPhone vulnerabilities exploited by a sophisticated hacking tool known as DarkSword, as Apple warned users to update their devices. The Cybersecurity and Infrastructure Security Agency instructed agencies to fix the flaws within two weeks, underscoring the......
Japan’s Nikkei 225 index fell sharply by nearly 5 percent on Monday, losing more than 2,600 points as escalating conflict in the Middle East triggered a broad selloff across Asian markets and intensified concerns over a prolonged energy-driven inflation shock. South Korea’s Kospi dropped more than 6 percent, prompting a circuit......
Oil prices have surged to their highest levels in nearly four years as the conflict involving Iran disrupts global energy supply, raising inflation risks and reviving concerns about stagflation. Brent crude closed at $112.19 per barrel on Friday, its highest level since July 2022. In the United States, the average price of regular gasoline......
Saudi Arabia’s armed forces intercepted 92 drones within 24 hours as Iran intensified its aerial campaign against energy infrastructure across the Gulf, highlighting the scale and persistence of the conflict. According to official statements cited by Arab News, Saudi defenses shot down 51 drones early Saturday in the kingdom’s......
Saudi Arabia is expanding its footprint in the global video game industry. ByteDance, the Chinese company behind TikTok, has agreed to sell its mobile gaming subsidiary Moonton to Saudi-owned Savvy Games for more than $6 billion, according to both companies. Savvy Games was established by the Saudi sovereign wealth fund to diversify the kingdom’s......
The United States signaled a prolonged military campaign against Iran as Defense Secretary Pete Hegseth said no timeline has been set for ending the conflict, even as Washington prepares its largest wave of strikes since operations began. Speaking at the Pentagon, Hegseth stated that the duration of the war, now in its third week, will ultimately......
Asian stock markets fell sharply on Thursday as escalating attacks on energy infrastructure in the Gulf pushed oil prices higher, while the US Federal Reserve and the Bank of Japan held interest rates steady amid rising economic uncertainty. Oil prices jumped after strikes targeting key facilities across the region. Brent crude rose above......
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