Oil prices could rise to $120–$130 a barrel in the near term, with a risk of climbing above $150 if supply flows through the Strait of Hormuz remain disrupted into mid-May, according to a JP Morgan note cited by Reuters.
US President Donald Trump has said that he is going to keep Iran under a naval blockade until the regime agrees to a deal that addresses US concerns about its nuclear programme.
Diplomatic efforts to end the ongoing US-Iran conflict showed little progress on Monday, as talks remained stalled and Iran’s top diplomat travelled to Russia for high-level consultations, while US President Donald Trump signalled a tougher stance on negotiations.
Fresh diplomatic momentum is building around possible talks between the United States and Iran, with both sides signalling cautious openness even as they stop short of confirming direct engagement.
Hours before the US-Iran ceasefire was to end, US President Donald Trump said he is extending the truce until Tehran has submitted a proposal to end the war.
The US military said on Tuesday it had seized a tanker linked to Iran in international waters, its latest apparent action to enforce a blockade, with time running out on a ceasefire and the prospect of last-ditch further peace talks still up in the air, reported Reuters.
More than 105,500 Bahraini private‑sector workers could have their April salaries paid directly from the Unemployment Fund if a proposal gets approved.
The UAE is well equipped to withstand the current regional crisis and has overcome far more severe shocks in the past, prominent Emirati businessman Khalaf Ahmad Al Habtoor said on Thursday, reacting to warnings by American economist Jeffrey Sachs.
Dubai has announced a three-month deferral on collecting hotel sales fees and the Tourism Dirham, starting April 1, 2026 as part of its AED1 billion ($272 million) economic package for businesses and individuals.
The impact of the Middle East war is substantial, global, and highly asymmetric, disproportionately affecting energy importers, in particular low-income countries, said heads of the International Energy Agency, International Monetary Fund, and World Bank Group.
