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Iran strikes damage Kuwait's desalination and power plants; Kuwait urges power rationing

In the early hours of Tuesday, 21 July 2026, during the tenth consecutive night of US strikes on Iran, the Revolutionary Guard targeted Kuwaiti infrastructure in retaliation against Washington's regional allies. According to international news outlets, a desalination complex and several Kuwaiti power plants caught fire and suffered serious damage, with a number of electricity generation units knocked out. Reports also point to damage at a Kuwaiti oil refinery. Kuwait's energy ministry urged residents to cut and ration electricity use during peak hours, a sensitive matter given that close to 90 percent of Kuwait's drinking water comes from these desalination facilities. The strikes are part of an escalation in the Persian Gulf that has brought tanker traffic through the Strait of Hormuz nearly to a halt and lifted the risk premium in global oil markets; Brent traded in the 89 to 90 dollar per barrel range on Tuesday.

NBC News · Jul 21, 2026

Tanker and ship traffic through the Strait of Hormuz falls to its lowest in months

Maritime traffic through the Strait of Hormuz has fallen sharply amid the escalating military tensions between Iran and the United States. According to vessel-tracking data cited by CNN on Tuesday, 21 July 2026, only about 9 vessels passed through the waterway in the latest 24-hour window, compared with a pre-conflict daily average of roughly 130. Since the ceasefire collapsed around early July, at least seven commercial ships transiting the strait have been struck. About one fifth of the world's consumed crude oil passes through the strait, and the steep drop in traffic, together with a surge in tanker war-risk insurance premiums and the temporary suspension of major shipping lines, has added pressure to the energy supply chain and global oil prices.

CNN · Jul 21, 2026

IRGC says two tankers disabled in Strait of Hormuz as Brent tops $90

Iran's Islamic Revolutionary Guard Corps (IRGC) said on Monday, July 20, 2026, that it had disabled two oil tankers that tried to cross the Strait of Hormuz without permission, using what it called an unsafe route. According to the IRGC, both vessels were left immobilized after explosions. The British military separately reported seeing a ship on fire near the Omani coast in the strait. The incident came amid the continuing nightly US strikes on Iran, with traffic through Hormuz already at a near standstill. Oil prices climbed further on the news, with Brent crude topping $90 a barrel for the first time since June 11. Roughly a fifth of the world's oil passes through the Strait of Hormuz, so any disruption feeds directly into Iran's foreign-currency earnings and domestic markets.

NPR · Jul 21, 2026

Dubai's DP World advances plan for new Fujairah port to bypass the Strait of Hormuz

Dubai's DP World is advancing a plan to build a new deep water port and container terminal at Fujairah on the UAE's east coast, to provide an alternative route outside the Strait of Hormuz and reduce Dubai's dependence on its flagship Jebel Ali hub. According to reports published in mid July 2026, the project's initial investment is estimated in the hundreds of millions of dollars, and its first phase could be operational within about 18 months of final approval. During the crisis and the temporary closure of the Strait of Hormuz, activity at Jebel Ali, one of the world's busiest container ports, reportedly fell 90 to 95%. The plan is part of the UAE's strategy to cut reliance on the Hormuz chokepoint.

Enterprise · Jul 20, 2026

Yemen's Houthis declare a naval blockade on Saudi Arabia, opening a new front and threatening oil supply

Yemen's Houthis (Ansarullah) announced on Monday, July 20, 2026, that they were imposing a naval blockade on Saudi Arabia with immediate effect, a move that opens a new front in the US-Iran war and widens the threat to global energy supplies and trade beyond the Persian Gulf. The Houthis framed the decision as a response to what they called a siege of Yemen by Saudi Arabia. The announcement rattled energy markets: analysts say a full closure of the Bab el-Mandeb strait, the southern gateway to the Red Sea, could halt Saudi oil exports to Asia and cut roughly 7% of global oil supply. On the same day, however, a senior Iranian official told Reuters that Tehran had received a proposal from mediators for a 10-day ceasefire to salvage the interim deal.

NBC News · Jul 20, 2026

Persian Gulf bourses close lower on Monday as Iran-US hostilities escalate

Most stock markets across the Persian Gulf closed lower on Monday, 20 July (29 Tir), as military tensions between Iran and the United States escalated and Tehran claimed it had sealed the Strait of Hormuz. Higher oil prices and renewed global inflation fears added to selling pressure on regional exchanges. Saudi Arabia's benchmark Tadawul index eased 0.2 percent, with oil giant Saudi Aramco down 1.1 percent. Dubai's main index fell 0.4 percent, as lender Emirates NBD and budget airline Air Arabia each lost 1.1 percent. Abu Dhabi's index slipped 0.3 percent, with Abu Dhabi Islamic Bank down about 1 percent. Because the region's economies depend heavily on oil exports and sit along the Strait of Hormuz, Persian Gulf bourses are among the markets most sensitive to developments in the Iran-US conflict.

Business Recorder · Jul 20, 2026

Saudi Arabia weighs 2 million bpd Red Sea pipeline expansion to bypass Strait of Hormuz

Saudi Arabia is considering increasing the capacity of its east-to-west pipeline network, which links its oil fields to the Red Sea port of Yanbu, Reuters reported, citing five sources familiar with the matter. Saudi officials have begun preliminary talks with neighbouring countries about expanding that capacity by roughly 2 million barrels per day. The aim is to reduce the region's reliance on the Strait of Hormuz, a waterway repeatedly constrained during recent tensions with Iran. It is not yet clear whether the plan would upgrade existing infrastructure or build a new pipeline; it could take years, cost billions of dollars and require changes to Saudi crude's pricing mechanism. Iraq has already announced it is tripling oil exports through the Ceyhan pipeline to bypass the Hormuz constraint.

عرب‌نیوز (به نقل از رویترز) · Jul 20, 2026

Major Container Carriers Pull Persian Gulf Services and Add Emergency Hormuz Surcharges

As the Strait of Hormuz crisis deepens, the world's largest container shipping lines have suspended crossings and imposed fresh emergency surcharges. Maersk has halted new Strait of Hormuz transits, is rerouting Gulf-bound cargo via the Jebel Ali transhipment hub and Cape of Good Hope diversions, and has added a Strait of Hormuz Emergency Freight surcharge. France's CMA CGM has activated Cape of Good Hope routing for all Asia to Europe services, with spot rates on affected lanes up roughly 60 percent, while Germany's Hapag-Lloyd has also suspended Hormuz transits and is diverting cargo around the Cape. The rerouting lengthens transit times and lifts costs, adding to imported inflation and higher goods prices in Iran and the wider region.

World Cargo News · Jul 20, 2026

Persian Gulf Tanker War-Risk Premiums Jump Up to 40-Fold to $3M-$10M per Voyage

War-risk insurance premiums for tankers crossing the Strait of Hormuz and the Persian Gulf have soared as attacks between the United States and Iran intensify. According to maritime-insurance industry reports through mid-July, war-risk cover for a roughly $100 million tanker now runs between $3 million and $10 million per voyage, compared with about $250,000 before hostilities began. The Lloyd's Market Association Joint War Committee has widened its high-risk designation to cover the entire Persian Gulf, and several major insurers have suspended or repriced war-risk cover for ships transiting the strait. The higher costs squeeze the economics of regional oil exports, including Iran's, and add to global shipping expenses.

The National · Jul 20, 2026

EASA warns airlines to avoid Persian Gulf airspace until July 29

The European Union Aviation Safety Agency (EASA), in Conflict Zone Information Bulletin CZIB-2026-07 issued on July 14, 2026, advised airlines to avoid the airspace of the United Arab Emirates, Qatar, Bahrain, Kuwait and the Gulf of Oman (the part of the Muscat Flight Information Region west of 58 degrees east) at all altitudes until at least July 29. The agency cited the high level of risk from attacks on vessels in the Strait of Hormuz, related military action, and repeated violations of the US-Iran ceasefire understanding. The bulletin is binding on EASA-regulated carriers and foreign operators authorized by the agency, adding to widespread flight disruption and higher costs on alternative routes across the region.

European Union Aviation Safety Agency (EASA) · Jul 19, 2026

IMO pauses its Strait of Hormuz seafarer evacuation; about 6,000 sailors remain trapped

The International Maritime Organization (IMO) said it has paused its plan to evacuate seafarers trapped in the Strait of Hormuz and the Persian Gulf after the container ship Ever Lovely was struck near Oman's coast, as it could no longer guarantee the safety of vessels and crews. According to the IMO, before the pause about 2,900 seafarers had been evacuated from 136 vessels via two alternative routes, since the usual traffic separation scheme could not be used because of the risk of sea mines. About 6,000 seafarers nonetheless remain trapped in the region, and the IMO says it is monitoring the safety of more than 20,000 seafarers across the Persian Gulf and Strait of Hormuz. The halt to the evacuation and the shortage of crews add to the paralysis of shipping in the Strait of Hormuz, a waterway that before the crisis carried about one fifth of the world's oil and gas and whose tensions have lifted global oil prices and the region's risk premium.

سازمان بین‌المللی دریانوردی (IMO) · Jul 19, 2026

QatarEnergy Extends LNG Force Majeure into a Fourth Month; 21 Cargoes Cancelled

QatarEnergy says the force majeure on its LNG exports has now stretched into a fourth month, leaving it unable to deliver cargoes due through early September. According to reports, the number of cancelled shipments between April and September has reached 21 (about 2.7 billion cubic meters of gas). The force majeure was first declared in early March 2026 after Iranian strikes on the Ras Laffan complex. Those strikes damaged two production trains (S4 and S6) and one of two gas-to-liquids units. Estimates suggest about 17% of Qatar's LNG capacity, close to 12.8 million tonnes a year out of a total 77 million, could stay offline for up to five years. Qatar is the world's largest LNG exporter, and the disruption is straining gas markets in Asia and Europe.

AGBI · Jul 19, 2026

IRGC says it stopped four vessels in the Strait of Hormuz

Iran's Islamic Revolutionary Guard Corps (IRGC) naval force said on Saturday, 18 July 2026, that it had stopped four vessels attempting to transit the Strait of Hormuz without authorization and despite warnings. According to the IRGC statement, the ships were halted during a naval operation, and one of them was a Thai-flagged merchant vessel. The IRGC did not disclose the ships' identity, ownership, or cargo. The interception comes amid weeks of tension over control of the Strait of Hormuz, the main export route for Persian Gulf oil, and could add further pressure on tanker traffic and global oil prices. The report is an official IRGC claim, and so far no further independent detail on the vessels' current status has been released.

Aaj News · Jul 19, 2026

Kuwait Petroleum Corporation says a key oil facility was hit by repeated Iranian attacks, with several staff injured

Kuwait Petroleum Corporation (KPC) said on Saturday, 18 July 2026, that one of the country's key oil-sector facilities was struck by repeated Iranian attacks, causing a fire, significant material losses and injuries to several staff. According to the statement, several firefighters and oil-sector workers were hurt while on duty and are receiving medical care; the site was evacuated and the incident is being handled in coordination with the relevant state agencies. Kuwaiti officials said the strike came in response to overnight U.S. attacks on Iranian facilities and as part of Iran's series of retaliatory strikes on targets in Persian Gulf states. Damage to Kuwait's oil infrastructure comes as the Strait of Hormuz crisis and the ongoing military tensions keep regional oil-supply risk and global energy prices under pressure.

Anadolu Agency · Jul 19, 2026

Gulf bourses stay subdued on Sunday as Saudi index edges higher

Gulf stock markets traded subdued and cautious on Sunday, July 19, 2026, as Iran and the United States exchanged missile and drone strikes and the Strait of Hormuz stayed closed. Saudi Arabia's benchmark index (TASI) edged up about 0.1 percent, helped by a roughly 0.2 percent rise in Aramco shares, holding up better than most regional markets. Gulf investors remain worried about a widening of the conflict and its effect on oil exports and the regional economy. Most of these markets had also closed lower on Saturday, and the Saudi index fell for a third straight month in June.

Gulf Times · Jul 19, 2026

Persian Gulf tanker rates nearly double in a week; some supertankers' daily earnings approach $470,000

The renewed escalation between the US and Iran and the higher risk of transiting the Strait of Hormuz have sharply lifted crude-tanker freight rates in the Persian Gulf. According to shipping-market reports in the week ending July 17, 2026, the cost of hiring a tanker in the Gulf nearly doubled in just one week, from around $106,000 per day to more than $190,000. For some very large crude carriers (VLCCs) moving cargoes through the Strait of Hormuz, daily earnings have approached about $470,000. A steep drop in the number of ships willing to transit the region, together with surging war-risk insurance premiums, has tightened available shipping capacity. Higher freight costs raise the cost of exporting oil for Persian Gulf producers, including Iran, eating into part of the windfall from higher crude prices.

سی‌ترید ماریتایم · Jul 19, 2026

Most Persian Gulf stock markets fall as the Iran-US war escalates; Saudi bourse proves more resilient

As the Iran-US conflict escalated, most Persian Gulf stock markets fell in recent sessions. Abu Dhabi's index dropped 0.5 percent and Dubai's main index fell 0.3 percent, while Saudi Arabia's benchmark (TASI) eased 0.2 percent and oil major Aramco slid 1.1 percent. Even so, the Saudi bourse, helped by Red Sea export terminals that bypass the Strait of Hormuz and by deeper liquidity, was the only Gulf market where foreign institutional investors were still deploying capital. Qatar's stock exchange stayed closed following the death of the country's former emir, Sheikh Hamad bin Khalifa Al Thani. Analysts warn that Qatar's economy, heavily dependent on LNG exports via Hormuz, is more exposed than its regional peers if the crisis persists.

Business Recorder · Jul 19, 2026

Fresh Iranian attacks on Persian Gulf states on Saturday; Bahrain and Saudi Arabia issue shelter-in-place warnings

Continuing its response to US strikes and reacting to the hosting of US bases, Iran launched a fresh wave of missile and drone attacks against Washington's regional allies early on Saturday, July 18. According to reports, Jordan's air defenses intercepted a number of Iranian missiles and Kuwait also reported intercepting missiles. Authorities in Bahrain and Saudi Arabia issued shelter-in-place warnings to residents. Tehran had earlier warned its Persian Gulf neighbors that they would face a "corresponding response" if the United States continued to use bases in the region. The widening of the conflict to Persian Gulf states has increased concerns about energy security and the region's oil export routes.

CNN · Jul 18, 2026

International airlines extend Gulf flight suspensions as EASA advises avoiding regional airspace

The European Union Aviation Safety Agency (EASA) advised airlines from 14 July 2026 to avoid Persian Gulf airspace, particularly over Iran, Iraq and Lebanon, citing missile and drone risks. Several major European carriers, including Lufthansa and Swiss, have extended their flight suspensions to Dubai into mid-September, and British Airways has delayed its phased return to the region. By contrast, Persian Gulf carriers such as Emirates and Qatar Airways have kept their flights running and asked passengers to check flight status before traveling. The main constraint is not airport closures but aircraft having to route around high-risk air corridors. The continued US-Iran war is keeping travel and air logistics across the whole region, including routes linked to Iran, under pressure.

The National · Jul 18, 2026

Pakistan says its mediation between Iran and the US remains alive

Pakistan said its efforts to mediate between Iran and the United States remain alive despite the renewed fighting between the two sides. Prime Minister Shehbaz Sharif, in separate phone calls with Iranian President Masoud Pezeshkian and Qatar's Emir Sheikh Tamim bin Hamad Al Thani, urged restraint and an immediate return of calm to the region. An interim ceasefire earlier signed between Washington and Tehran under Pakistani mediation was meant to open a 60-day window for talks on a permanent deal, but indirect negotiations in Qatar ended without progress. The regional mediation bears on the same tensions that have pushed the war risk premium in the oil market to a one-month high.

The Express Tribune · Jul 18, 2026

Kuwait urges electricity rationing after a strike on a power and desalination plant

Kuwaiti authorities on Saturday, July 18, urged the public to ration electricity after an Iranian strike caused extensive damage to a power and water desalination plant, sparking a fire and knocking out a large number of electricity generation units. Kuwait relies on desalination for about 90 percent of its drinking water. Kuwait said it intercepted some of the missiles and drones early Saturday, in the second such attack on the small country in two days. The damage to critical water and power infrastructure shows how deeply the US-Iran war is reaching the Persian Gulf states hosting American bases.

PBS NewsHour · Jul 18, 2026

Qatar says a child was wounded by shrapnel from an intercepted Iranian missile attack

Qatar's Interior Ministry said a child was wounded on Friday, July 17, by shrapnel from an Iranian missile attack that its army intercepted over Doha, and is receiving medical care. Residents of Doha reported hearing several explosions, and security alerts were sent to mobile phones. Qatar, which hosts the largest US military base in the region and is a mediator in talks with Washington alongside Pakistan, was struck during the latest wave of Iranian attacks on states hosting American forces. The continued attacks on Persian Gulf countries have kept the war risk premium in oil and shipping insurance elevated.

Asharq Al-Awsat · Jul 18, 2026

Kuwait hit for a second straight day in Iranian attack; Kuwait International Airport temporarily suspended

On Saturday, July 18, 2026, Kuwait said that for a second straight day one of its power and water desalination plants was hit by Iranian missile and drone attacks, forcing several power generation units offline. Sirens sounded repeatedly across Kuwait from around dawn on Saturday, in one of the heaviest barrages the country has faced since the conflict began. Following the attacks, takeoffs and landings at Kuwait International Airport were temporarily suspended and the country's airspace was closed; Kuwait Airways said it had rescheduled most of its flights. Kuwait draws roughly 90 percent of its drinking water from desalination, and a similar facility had already been damaged on Friday, July 17. The escalation across the Persian Gulf, home to US military bases, raises energy security risk and fears of further disruption to tanker traffic through the Strait of Hormuz, a channel that indirectly pressures Iran's currency and gold markets.

The National · Jul 18, 2026

Iran-Oman talks on the Strait of Hormuz end in Muscat without a final deal

Iranian Foreign Minister Abbas Araghchi met his Omani counterpart Badr al-Busaidi in Muscat on Saturday, July 18, 2026, to discuss mechanisms for the safe passage of ships through the Strait of Hormuz under the Iran-US memorandum of understanding. The meeting ended without a final agreement, and both sides said talks would continue at technical and political levels. According to CNN, Oman has proposed managing traffic in the strait via two separately controlled routes, while Tehran prefers a single, joint Iran-Oman management, and there was no sign of progress. Iranian officials also accused the United States of exerting "overt and covert pressure" on Oman. The absence of a safe-passage deal, with vessel traffic through the strait at multi-week lows, keeps war-risk premiums for tankers and oil prices elevated; Brent stayed above $85 a barrel on Friday.

CNN · Jul 18, 2026

Qatar halts its LNG output ramp-up as loaded cargoes pile up on tankers stranded in the Persian Gulf

The Hormuz disruption has also paralysed Qatar's LNG exports. After a projectile hit the gas tanker Al Rekayat on 7 July 2026, QatarEnergy paused plans to raise output at the Ras Laffan complex, kept operations at a minimum for safety, and cut the number of vessels scheduled to dock at the terminal. According to S&P Global data, the 10-day moving average of laden LNG cargoes transiting the Strait of Hormuz fell from about 0.8 per day in late June to roughly 0.2 per day by 15 July. Production and loading have continued, but with outbound shipping stalled, loaded cargoes are piling up on tankers: as of mid July about seven laden Qatari carriers holding some 0.57 million tonnes of LNG were waiting in the Persian Gulf. The relevance for Iran lies in the same waterway that carries its oil exports. About a fifth of the world's LNG passes through Hormuz and Qatar is one of the world's top three LNG exporters, so the disruption lifts global gas prices and deepens the energy squeeze.

Business Today · Jul 18, 2026

Saudi Arabia ramps up crude exports via the Red Sea port of Yanbu to bypass the Strait of Hormuz

To reduce its reliance on the Strait of Hormuz for oil exports, Saudi Arabia is moving rising volumes of crude through its East-West (Petroline) pipeline from the eastern Abqaiq fields to the Red Sea port of Yanbu, loading tankers there instead. Oil market reports in mid July 2026 put flows on this route at around 4 million barrels per day; the pipeline has a nameplate capacity of nearly 7 million barrels per day. The relevance for Iran lies in the same Hormuz chokepoint. The strait carries about a fifth of the world's oil and is the main route for Iran's own crude exports, and traffic through it has now fallen sharply. Persian Gulf producers can offset part of the global squeeze via alternatives such as the Red Sea, but tankers leaving Yanbu must still pass the Bab el-Mandeb Strait, which faces a Houthi threat. Iran has no comparable bypass, so the halt in Hormuz traffic weighs more heavily on its export revenue.

CNBC · Jul 18, 2026

IRGC says two oil tankers exploded after hitting mines south of Hormuz; CENTCOM rejects the claim

Iran's Revolutionary Guard (IRGC) said on Saturday, 18 July 2026, via state television that two oil tankers trying to cross a minefield south of the Strait of Hormuz through the "deception of American intelligence services" had exploded and caught fire. The Guard did not name the two tankers. In a separate statement the same day, the IRGC said four "violating" ships attempting to pass through the strait "with the support of the US military" had been "stopped in place" during a combined missile and drone operation. US Central Command (CENTCOM) rejected the claim in a brief message on X, writing: "Like most IRGC claims, this is false." The developments came as US strikes on Iran entered a seventh consecutive night, and independent confirmation of the tanker explosions was not available. The Strait of Hormuz is the main route for the region's oil exports and energy shipments, and continued insecurity there weighs on the global oil market and inflation expectations.

Arab News · Jul 18, 2026

Maersk Keeps Booking Suspension for Upper Gulf Ports; Strait of Hormuz Transits Remain Halted

In its latest Middle East operational update (No. 39), published on Thursday, July 16, 2026, shipping line Maersk said it is maintaining its suspension of cargo bookings for much of the Upper Gulf, citing "highly volatile" conditions. The affected areas include Iraq, Kuwait, Qatar, Bahrain, Saudi Arabia's eastern ports (Dammam and Al Jubail), and most UAE ports except Khor Fakkan. The suspension covers imports, exports, and transshipment cargo. Maersk also said transits of its vessels through the Strait of Hormuz remain suspended, and that it is expanding overland "landbridge" alternatives via Saudi Arabia, Jordan, Oman, and the UAE to keep cargo moving. The disruption to Gulf shipping could raise regional trade and supply-chain costs.

Maersk · Jul 18, 2026

War risk insurance for tankers crossing the Strait of Hormuz climbs to about 5 percent of vessel value

According to shipping insurance market reports on Friday, July 17, 2026, war risk insurance premiums for ships have jumped again as tensions in the Strait of Hormuz escalate, reaching about 5 percent of a vessel's hull value per voyage, up from roughly 0.25 percent before the war. On that basis, a $100 million tanker now faces war risk premiums of about $3 million to $10 million per voyage, versus around $250,000 before the fighting began. Some major insurers have suspended or repriced coverage for the Hormuz and Persian Gulf route. The sharp rise in these costs is one reason vessel traffic has dropped so steeply and regional energy exports, including Iran's oil, are under pressure.

The National · Jul 17, 2026

Kuwait says an Iranian strike caused widespread damage at a power and water desalination plant

Kuwait's Ministry of Electricity, Water and Renewable Energy said on Friday, July 17, 2026, that one of the country's power plants and desalination facilities was struck, triggering a fire. Kuwaiti officials said the blaze was contained and that technical teams were restoring the damaged units to the grid. Iran's Revolutionary Guard announced the attack as part of what it called the "15th wave of Operation Nasr 2." Desalination complexes supply about 90 percent of Kuwait's drinking water, which makes damage to them especially significant. The strike is part of an escalation across the Persian Gulf following the latest round of US and Iranian attacks.

Gulf News · Jul 17, 2026

Iran Launches Fresh Wave of Attacks on Gulf States Hosting US Bases; Qatar, Kuwait and Jordan Targeted Early Friday

Early on Friday, July 17, Iran launched a fresh wave of missile and drone attacks on several countries that host US military bases and facilities in the region, in response to a sixth consecutive night of US airstrikes. According to reports, Qatar, Bahrain, Kuwait and Jordan came under fire during the overnight barrage. Qatar's Defence Ministry said it had fended off a second air attack of the day on Friday morning, adding that a child was wounded by shrapnel during interception operations. The IRGC claimed it had struck a US military base in Kuwait, hitting a defence radar, several weapons depots and two HIMARS missile launchers. Jordan's army said it had intercepted and destroyed three missiles fired toward the country, with no casualties. The attacks came as the US bombed southern Iran for a sixth straight night, including routes and infrastructure around Bandar Abbas in Hormozgan province, leaving at least seven people dead according to state media. The Strait of Hormuz remains the flashpoint of the crisis; Brent crude hovered near 85 dollars a barrel and gold traded below 4,000 dollars. Rising tension in the Persian Gulf keeps the geopolitical risk premium in oil and gold elevated and adds pressure on Iran's currency market.

الجزیره · Jul 17, 2026

Trump drops 20% Strait of Hormuz fee, replaces it with Gulf states' investment deals

US President Donald Trump announced on Tuesday, July 14, 2026, that he had dropped a plan to charge a 20 percent fee on ships passing through the Strait of Hormuz, replacing it with trade and investment deals with the Gulf states. The decision came just hours before the fee was due to take effect. In a statement, Trump said that based on highly productive conversations with regional leaders, the 20 percent US reimbursement fee would be replaced by investments the various Gulf states would make into the United States. He added that the strait was open to all shipping except vessels belonging to Iran. The UN's International Maritime Organization had earlier opposed any fees on waterways used for international navigation, saying there was no legal basis for mandatory tolls on strait transits. Scrapping the plan removes one risk driver from the oil market, though military tension over the Strait of Hormuz continues.

The Hill · Jul 17, 2026

IRGC threatens to halt the entire region's energy exports: oil and gas 'for everyone or for no one'

On Wednesday, July 15, 2026, after the United States reimposed its naval blockade of Iran and widened its air campaign, the Islamic Revolutionary Guard Corps warned it would halt the region's energy exports entirely. In its statement the Guard said that "the export of oil and gas from the region will be either for everyone or for no one." The threat points directly at the global oil and gas market, since a large share of the world's energy exports passes through the Persian Gulf and the Strait of Hormuz. Iran's own oil exports have fallen to less than a sixth of their pre-war level since the blockade began, and Tehran is now threatening to disrupt the exports of other regional producers as well. Against this backdrop, Brent crude rose for a fourth straight session to near 85 dollars a barrel, its highest in about a month. Further escalation raises the risk of an energy-price spike and renewed pressure on Iran's exchange rate and domestic inflation.

ITV News · Jul 16, 2026

Iran Calls the Strait of Hormuz an 'Unbreakable Red Line,' Claims Retaliatory Strikes on US Bases in the Persian Gulf

Iran's military on Thursday, July 16, 2026 called the Strait of Hormuz an "unbreakable red line" and warned it would target "all infrastructure throughout the region" if the United States struck Iranian infrastructure. According to Al Jazeera, Iran said it had carried out retaliatory missile and drone attacks on facilities used by the US military in Kuwait, Bahrain and Jordan in response to the naval blockade; the Revolutionary Guard claimed it hit a base at Al-Azraq in Jordan. Most of the projectiles were intercepted and there was no independent confirmation of damage to any American facilities. At the same time, US Central Command continued its strikes on Iranian positions. According to Iran's Health Ministry, at least 35 people have been killed and more than 300 injured since the fighting resumed. The escalation has kept the geopolitical risk premium elevated in the oil market, holding Brent crude near $85 a barrel, a factor that bears directly on Iran's oil revenue and its currency market.

Al Jazeera · Jul 16, 2026

War-risk insurance for Hormuz tankers climbs to about 5% of vessel value, the new market norm after this week's attacks

According to marine-insurance market reports, hull war-risk premiums for vessels transiting the Strait of Hormuz have risen in recent days to about 5% of a ship's value, becoming the new market norm. The rate climbed after attacks on three commercial vessels this week, reversing expectations of improving conditions. War-risk premiums had eased to around 2% following the US-Iran memorandum signed in June, but had earlier spiked as high as about 10% at the peak of the conflict. The reports say premiums for ships operating around the Persian Gulf have surged by as much as 1,000% over the past three months, turning insurance from a routine operating cost into one of the heaviest expenses in global trade. These costs bear directly on the region's oil-export economy, including Iran's.

پیپلز دیلی آنلاین / People's Daily Online · Jul 15, 2026

Oman proposes managing Strait of Hormuz traffic through two separate corridors; Washington warns of sanctioning Muscat

According to CNN, citing a source familiar with the matter, Oman has proposed a plan to manage shipping traffic through the Strait of Hormuz via two separately controlled corridors: a southern corridor in Omani waters where vessels would sail freely under pre-war conditions, and a northern corridor in Iranian waters where ships would need Tehran's permission to pass. At the same time, US Treasury Secretary Scott Bessent warned that Washington would aggressively sanction Oman if Muscat facilitated any Iranian transit-fee mechanism. The diplomacy is unfolding amid continuing US strikes on Iran and a naval blockade of Iranian ports, along a waterway through which about one fifth of the world's energy supply passes.

سی‌ان‌ان / CNN · Jul 15, 2026

US Central Command strikes Iran for a fifth straight day; coastal defense and missile sites on Greater Tunb Island hit

US Central Command (CENTCOM) said on Wednesday, July 15, 2026 that in a 90 minute wave beginning in the early morning US Eastern time it struck coastal defense systems and cruise missile storage and launch sites on Greater Tunb Island. CENTCOM said the operation marked the fifth consecutive day of US strikes against Iran and was aimed at degrading Iran's ability to attack commercial ships in the Strait of Hormuz. The strikes followed Iranian operations on Tuesday against US allies and installations in the region, including in Kuwait, Bahrain and Jordan. The Strait of Hormuz carries a large share of the world's oil, so escalation there feeds global oil prices and, indirectly, Iran's currency and gold markets.

U.S. Central Command (DVIDS) · Jul 15, 2026

Tanker Freight Rates Jump as Strait of Hormuz Tensions Escalate; Giant Crude Carrier Rates Spike Again

Tanker freight rates climbed again as military tensions between the US and Iran resumed and traffic through the Strait of Hormuz thinned. According to a weekly tanker-market report (through about July 13), daily rates for very large crude carriers (VLCCs) rose about 11.7% from the prior week to around $137,000 a day, while mid-sized Aframax tankers surged about 44.7% to roughly $60,000 a day. It is the second major spike in VLCC rates since the crisis began; oil flows through the Strait of Hormuz remain far below pre-crisis levels.

Seoul Economic Daily · Jul 15, 2026

Persian Gulf Bourses Fall on Tuesday as US-Iran Tensions Escalate; Saudi Tadawul Down 0.8%

Most Persian Gulf stock markets closed lower on Tuesday, July 14, 2026, as investors turned cautious after the United States resumed its naval blockade of Iran and both sides intensified strikes around the Strait of Hormuz. Saudi Arabia's benchmark Tadawul index fell 0.8%, with Al Rajhi Bank down 1.7%, though oil major Aramco rose 1.4% as crude prices climbed. Dubai's main index dropped 1.3%, even as the emirate's largest lender, Emirates NBD, gained 2.7%. Concern over disruption to global energy supply through the Strait of Hormuz was the main pressure on these markets.

Zawya (Reuters) · Jul 15, 2026

Tanker traffic through Strait of Hormuz slumps; US Energy Department says 8.5 million barrels transited on Sunday

As US-Iran hostilities intensified and the naval blockade was reimposed, ship traffic through the Strait of Hormuz has fallen sharply. Ship-tracking firms say the number of crossings has dropped by more than half from the previous week. Even so, the US Energy Department told CNBC that about 8.5 million barrels of oil transited the strait on Sunday despite the hostilities, still well below the roughly 20 million barrels that pass on a normal day. The Strait of Hormuz is the world's most important oil chokepoint and the main export route for Iran and its Persian Gulf neighbours, so any disruption feeds directly into global oil prices and Iran's oil revenue.

CNBC · Jul 15, 2026

Trump backs off 20% Strait of Hormuz toll, opts for Persian Gulf states' trade and investment deals

US President Donald Trump on Tuesday, July 14, 2026, backed off his plan to charge a "20% fee" on the cargo of every ship passing through the Strait of Hormuz, a plan he had announced just one day earlier, on Monday, July 13. In a statement he said that based on "highly productive conversations" with regional and Persian Gulf leaders he had decided to replace the fee with "trade and investment deals" those states would make in the United States. Trump did not specify a dollar amount or name the countries involved. Trump nonetheless said the naval blockade of Iran's ports remains in place. The International Maritime Organization had earlier said there is "no legal basis" for mandatory tolls on natural waterways. Before the recent tensions the Strait of Hormuz carried about 20 percent of the world's oil and gas, and any development there feeds directly into oil prices and Iran's currency and gold markets.

NPR · Jul 14, 2026

UN shipping agency calls Trump's 20 percent Strait of Hormuz toll plan without legal basis

The International Maritime Organization (IMO), the United Nations' maritime body, rejected the US administration's plan to charge a 20 percent toll on cargo passing through the Strait of Hormuz. Its secretary-general, Arsenio Dominguez, said on Monday, July 13, 2026, that there is no legal basis to impose mandatory tolls simply to transit a strait, and that the organization's stance against charging for passage through waterways used for international navigation has not changed. The IMO's position rests on the Law of the Sea Convention, which grants a right of transit passage through international straits and bars the levying of tolls. The reaction followed US President Donald Trump's demand for payment equal to 20 percent of the value of cargo crossing the Strait of Hormuz in exchange for providing security. The Strait of Hormuz is the main route for Persian Gulf oil exports.

CNBC · Jul 14, 2026

War-risk insurance for ships in the Strait of Hormuz jumps to around 5% of vessel value

War-risk insurance costs for ships transiting the Strait of Hormuz have surged as the US-Iran conflict escalates. According to insurance-industry reports in the days leading up to July 14, 2026, war-risk rates for vessels operating inside the Gulf have risen to roughly 3% of a vessel's value, up from about 2% late last week, while hull war-risk premiums for a Hormuz transit have climbed to around 5% of vessel value, emerging as the market's new norm. The US Navy-led Joint Maritime Information Center (JMIC) raised its advisory for transiting Hormuz to the highest 'severe' level. War-risk cover is typically sold on a seven-day basis and repriced every 24 to 48 hours, so even small shifts at these levels add hundreds of thousands of dollars in daily costs for large tankers. Some insurers have advised owners to pause voyages, and ship traffic has declined.

Business Insurance · Jul 14, 2026

UAE Defense Ministry: two of its tankers hit by missiles in Strait of Hormuz, one crew member killed

The Ministry of Defense of the United Arab Emirates said on Monday, July 13, 2026 that two of its national tankers, the Mombasa and Al Bahiyah, were struck by two Iranian cruise missiles while transiting the southern lane of the Strait of Hormuz in Omani territorial waters. According to the statement, one crew member (an Indian national) was killed and several others were wounded, while both vessels were damaged and caught fire before the blazes were brought under control. The UAE condemned the attack and said it reserves its full right to respond to the escalation. Iran had not commented on the attack by the time of publication. The incident is part of the wider Strait of Hormuz crisis, a waterway that carries roughly one-fifth of global oil trade, where any disruption feeds directly into world oil prices and regional exports.

CNN · Jul 14, 2026

Qatar's Father Emir Sheikh Hamad bin Khalifa Al Thani dies; Qatar Stock Exchange shut until 19 July

Sheikh Hamad bin Khalifa Al Thani, Qatar's former ruler and Father Emir, who governed the country from 1995 to 2013, died on Sunday, 12 July 2026, at the age of 74. Qatar's Amiri Diwan declared a four-day period of national mourning, and the Qatar Stock Exchange suspended trading from Monday, 13 July, saying it would resume on Sunday, 19 July. The closure coincides with a slide in Persian Gulf bourses amid intensifying US-Iran tensions. Sheikh Hamad is remembered as a principal architect of Qatar's economic development and its rise into one of the world's wealthiest nations.

Al Jazeera · Jul 13, 2026

Trump reinstates naval blockade of Iranian ships in Strait of Hormuz; 20% charge on other cargoes

On Monday, 13 July 2026, Donald Trump said the United States is reinstating its naval blockade of Iranian ships in the Strait of Hormuz, weeks after last month's ceasefire memorandum between Washington and Tehran collapsed. Trump also demanded a 20 percent reimbursement on the value of all other cargo passing through the waterway. Under the plan, Iranian ships and buyers of Iranian oil would be barred from entering or leaving, while other countries would retain free use of the strait. Lifting the blockade had been part of last month's war-ending agreement, which has now stalled largely over control of the Strait of Hormuz. Amid the tensions, Brent crude rose more than 3 percent on Monday, moving past 78 dollars a barrel.

Forbes · Jul 13, 2026

Tankers cross the Strait of Hormuz in secret; only 6 ships passed on Sunday with transponders off

According to preliminary data from ship-tracking firm Kpler, published by Bloomberg, only 6 vessels transited the Strait of Hormuz on Sunday, July 12, 2026, the lowest number in five weeks and far below the normal daily average of 18 to 22 ships. All six crossed with their position transponders switched off, in so-called dark crossings, and over the past three days hidden passages have outnumbered observable ones. Among the ships that exited the strait were a very large crude carrier named Humanity, reported to be carrying about 2 million barrels of Iranian oil, and another tanker, Capetan Andreas, with about 500,000 barrels of Kuwaiti oil products. The figures come as Washington and Tehran dispute whether the Strait of Hormuz is open or closed; the sharp drop in observable traffic shows commercial shipping is moving cautiously and covertly through this vital waterway.

Bloomberg · Jul 13, 2026

Supertanker rates from the Persian Gulf hit records; daily earnings top 400,000 dollars

Rates for very large crude carriers (VLCCs) on the Persian Gulf to East Asia route hit their highest levels on record this week. According to shipping-market reports, daily earnings on the Persian Gulf to China route topped 400,000 dollars, peaking at about 424,000 dollars a day; for some cargoes transiting the Strait of Hormuz, daily earnings were reported near 470,000 dollars. The surge is driven by the Strait of Hormuz crisis and the withdrawal of war-risk insurers, which has upended the economics of moving crude. The jump raises the cost of delivering Persian Gulf oil to Asian markets and feeds into the final price of imported oil for consuming countries.

OilPrice · Jul 13, 2026

Persian Gulf bourses fall on Monday as tensions escalate; Dubai index down 1.4 percent

Stock markets in the Persian Gulf states were mostly lower on Monday, July 13, 2026, amid the exchange of strikes between the United States and Iran and concern over disruption to the Strait of Hormuz. Dubai's main index fell 1.4 percent, dragged by a 2.6 percent slide in Emirates NBD, the emirate's largest bank, and a 1.4 percent drop in developer Emaar Properties. Abu Dhabi's index fell 0.5 percent and Saudi Arabia's benchmark lost 0.2 percent, with oil major Saudi Aramco down 0.5 percent. The declines came as Brent crude jumped more than 4 percent to around $79 a barrel. The Strait of Hormuz, through which about a fifth of the world's oil and liquefied natural gas trade passes, is at the center of the tensions.

The National · Jul 13, 2026

Maritime Information Center keeps Strait of Hormuz threat at its highest 'severe' level, warns of mines and vessel stops

The US Navy-led Joint Maritime Information Center (JMIC) kept the Strait of Hormuz security threat at "severe," its highest category, in its latest advisory on Sunday, 12 July 2026, after earlier lifting it from the "substantial" level. It cited the likelihood of "deliberate hostile action" under current conditions. The advisory pointed to the IRGC Navy hailing and stopping merchant vessels, interference with navigation, and mine hazards near the strait's traffic separation scheme, and told mariners to expect radio contact from naval forces. The warning came even as CENTCOM and the same center had earlier stressed that the strait's southern route remained open to traffic despite Iran's declared "closure." The Strait of Hormuz carries about 20 percent of the world's oil and gas, so an elevated security risk keeps ships' war-risk premiums and the oil price risk premium high, a channel that feeds through global crude prices and inflation expectations into Iran's currency and gold markets.

gCaptain · Jul 13, 2026

Saudi Arabia's Tadawul index closes up a slight 0.1% at 10,819 on Sunday

Saudi Arabia's benchmark Tadawul All Share Index (TASI) closed up 10.55 points, or 0.1%, at 10,818.98 on Sunday, July 12. Total trading turnover reached SR2.2 billion (about $587 million), with 135 stocks advancing and 117 declining. The day's best performer was LIVA Insurance Co., which rose 9.93% to SR14.61, while Saudi Fisheries Co. posted the steepest drop, falling 4.76% to SR70. The Tadawul is the largest equity market in the Persian Gulf region, and its trend is one gauge of how the region's markets are weathering the current tensions.

Arab News · Jul 13, 2026

Oman proposes two separate corridors for the Strait of Hormuz; Araghchi takes the plan to Tehran for a decision

Oman has proposed managing shipping through the Strait of Hormuz via two separately controlled routes. According to reports citing a source familiar with the talks, a Southern Corridor running through Omani territorial waters would allow free navigation under prewar conditions, while a Northern Corridor through Iranian waters would require prior approval from Tehran, though no tolls would be charged. The plan was presented on Saturday, 11 July 2026, during Iranian Foreign Minister Abbas Araghchi's visit to Muscat and his meeting with his Omani counterpart. Reports say the Iranian delegation did not approve the proposal and took it to Tehran for review; Oman said the two sides agreed to continue talks at the technical and political levels. The plan has not been finalized. The matter is significant for markets because the Strait of Hormuz carried about 20 percent of the world's oil and gas before the recent tensions. Iran has declared the strait closed, while the United States and the Joint Maritime Information Center say the route remains open. Any mechanism to restore safe passage would bear directly on oil prices and Iran's markets.

Fortune · Jul 13, 2026

CENTCOM: Strait of Hormuz open to all vessels and Iran does not control it; over 140 ships transited in seven days

US Central Command (CENTCOM) said on Sunday, 12 July 2026, in response to the IRGC Navy's declaration that the Strait of Hormuz was closed, that the international waterway is open to all vessels transiting it lawfully and that "Iran does not control the strait." CENTCOM added that US forces are positioned and prepared to ensure freedom of navigation and that traffic is flowing. According to the statement, more than 140 vessels passed through the Strait of Hormuz over the past seven days, and more than 800 ships carrying over 400 million barrels of crude oil transited the route over roughly the past two months. Earlier on Sunday the IRGC had declared the strait closed "until further notice" after what it called warning shots fired at a ship on an unauthorized route. The Strait of Hormuz carries about 20% of the world's oil and gas, so any tension there feeds directly into oil prices and Iran's markets.

U.S. Central Command (سنتکام) · Jul 12, 2026

US-led maritime center: southern route of Strait of Hormuz stays open despite Iran's closure announcement

The U.S.-led Joint Maritime Information Center (JMIC) said on Sunday, July 12, 2026, that despite the Revolutionary Guards' announcement that the Strait of Hormuz was closed, the strait's southern route along the Omani coast remains open and has been expanded to handle two-way vessel traffic. The same advisory kept the maritime security threat level in the strait at "severe". U.S. Naval Forces Central Command (NAVCENT) said the Strait of Hormuz is an international waterway not subject to the control of any single nation, and that U.S. forces are prepared to preserve freedom of navigation. Under an earlier memorandum between Washington and Tehran, two transit corridors had emerged: a northern route controlled by Iran and a southern route along the Omani coast where the U.S. provides navigation support. Around 20 percent of the world's oil and gas passes through the Strait of Hormuz, so keeping it open matters for the region's energy exports and, through them, for Iran's currency and gold markets.

Xinhua · Jul 12, 2026

Iran fires missiles and drones at Persian Gulf states and Jordan; three missiles land in Jordan and three injured in Qatar

Early on Sunday, July 12, 2026, Iran launched a wave of simultaneous missile and drone attacks toward Persian Gulf states, including Qatar, the UAE, Bahrain and Kuwait, and claimed attacks on Jordan and Oman as well. The strikes came after a fresh round of US airstrikes on Iran and in response to Saturday night's attack on a container ship in the Strait of Hormuz. According to reports, three missiles fired from Iranian territory landed at several locations in Jordan early Sunday, causing no casualties according to Jordanian officials. In Qatar, the Interior Ministry said three people, including one child, were injured by falling shrapnel. Persian Gulf states activated their air defence systems. The escalation has raised regional risk and weighs on oil and currency markets.

Euronews (یورونیوز) · Jul 12, 2026

Qatar temporarily suspends maritime navigation and all marine activities amid Persian Gulf tensions

Qatar's Ministry of Transport on Sunday, July 12, 2026, announced a temporary suspension of maritime navigation and all marine activities as a precautionary measure to protect public safety. According to the notice, owners and users of all vessels, including leisure boats, fishing boats and jet skis, must refrain from sailing and marine activity until further notice. The suspension does not apply to vessels operating under international maritime conventions. The decision followed escalating tensions in the Persian Gulf region and the Strait of Hormuz, coinciding with reports of missiles and drones fired toward Persian Gulf states. The ministry urged the public to rely only on official channels for updates. The development matters for Iran's market because any disruption to Persian Gulf shipping affects the region's oil and goods export routes.

Xinhua (شینهوا) · Jul 12, 2026

Hormuz war-risk insurance jumps again; premiums near 5 percent of vessel value

With escalating tensions and attacks on three commercial vessels in recent days, war-risk insurance premiums for tankers and ships crossing the Strait of Hormuz jumped again, reaching about 5 percent of a vessel's value as the new market norm; earlier in the conflict the rate had briefly climbed to around 10 percent. At that level, a single transit for a tanker worth roughly 100 million dollars can cost millions of dollars in insurance, versus a fraction of one percent before the conflict began. The US Navy-led Joint Maritime Information Center raised its advisory for crossing the strait from "substantial" to "severe," the highest category. War-risk cover is typically sold on a seven-day basis and repriced every 24 to 48 hours. Higher insurance costs and reduced traffic directly affect Iran's oil exports and the flow of goods in the region.

Insurance Business · Jul 12, 2026

Oman summons Iran's ambassador in formal protest over drone strikes on Musandam

Oman's Foreign Ministry summoned the ambassador of the Islamic Republic of Iran, Mousa Farhang, on Sunday, July 12, 2026, and handed him a formal letter of protest over drone strikes on areas in the Musandam and Al Wusta governorates. According to Muscat Daily, Khalid bin Hashel al Musalhi, Undersecretary for Administrative and Financial Affairs at the Foreign Ministry, expressed the Sultanate's strong dissatisfaction and stressed the need to uphold the principles of state sovereignty and good neighborliness. Oman has been one of the main mediators working to contain the US-Iran conflict and preserve maritime security in the Strait of Hormuz, and the summons could weigh on the ongoing talks over the strait.

Muscat Daily · Jul 12, 2026

Gulf flights disrupted as Dubai and Abu Dhabi services are diverted or turned back

On Sunday, July 12, as the UAE intercepted Iranian missiles and drones over airspace near the Strait of Hormuz, a number of inbound flights to Dubai and Abu Dhabi airports were placed in holding patterns, and some were diverted or turned back to their origin. Airspace restrictions over Iran, Iraq and Lebanon have disrupted international routes, forcing major carriers including Emirates, flydubai, Etihad and Qatar Airways to reroute, temporarily suspend, or gradually restore flights. Qatar's airspace and Doha airport reopened to overflights after a brief pause. The wide disruption to regional air travel raises the cost and duration of West Asia's trade and passenger routes and weighs on economic activity in the Persian Gulf states.

The Nightly · Jul 12, 2026

UAE issues missile alert as Qatar reports intercepting Iranian fire after third round of US strikes

Early on Sunday, July 12, after the United States launched its third round of strikes this week against Iran, the United Arab Emirates issued a missile and drone alert for the first time in months, urging residents to seek shelter. A number of inbound flights to Dubai and Abu Dhabi were briefly placed in holding patterns. Explosions were heard in Qatar, and its military said it had intercepted incoming Iranian fire. In Bahrain, an island in the Persian Gulf that hosts the US Navy's Fifth Fleet, residents were also warned to take shelter. The escalation followed a Revolutionary Guard attack on a Cyprus-flagged container ship in the Strait of Hormuz and the US military response. Spreading the conflict to the Persian Gulf states raises the security risk along a route that carries roughly one-fifth of the world's oil and gas, and could intensify pressure on oil, gold and currency markets.

NPR · Jul 12, 2026

Araghchi arrives in Muscat for Strait of Hormuz talks; Iran says it has kept its word

Iran's Foreign Minister Abbas Araghchi arrived in Muscat on Saturday, 11 July 2026, and was welcomed by Omani officials for talks on mechanisms for the safe transit of ships through the Strait of Hormuz. He is due to meet his Omani counterpart Badr Albusaidi to discuss "establishing appropriate mechanisms for the safe transit of ships." The visit comes as Washington has demanded that Tehran formally declare the Strait of Hormuz open to shipping. In a post on X on Saturday, Araghchi said Iran "has so far kept its word" and accused the US Treasury Secretary of violating Paragraph 9 of the memorandum of understanding, under which the US is not to impose new sanctions or deploy additional forces to the region. His remarks followed a fresh round of US Treasury sanctions on Friday against a financier and 13 other individuals and entities. He stressed that "there can only be mutual compliance." Iran's domestic markets reflected signs of easing tension on Saturday: the free-market dollar fell 1.86 percent and 18-karat gold dropped about 2.3 percent.

The National · Jul 11, 2026

IMF Cuts Saudi Arabia's 2026 Growth Forecast to 1.7%, Third Downgrade in Six Months

The International Monetary Fund cut its 2026 growth forecast for Saudi Arabia to 1.7% in the July World Economic Outlook Update, published July 17 Tir 1405 (July 8, 2026). It is the IMF's third consecutive downgrade for Saudi Arabia in six months, down from 4.5% in January 2026 and 3.1% in April 2026. The Fund attributed the cut mainly to war-related disruption of oil exports and non-oil activity, including transport and tourism. At the same time, the IMF raised its 2027 growth forecast for Saudi Arabia to 5.5%, but conditioned that rebound on the Strait of Hormuz reopening fully by March 2027. The same report also cut the IMF's 2026 growth outlook for the wider West Asia region to 0.7%.

Economy Middle East · Jul 11, 2026

GeneralPersian Gulf

Dubai's Q1 GDP Grows 2.4%; IMF Cuts 2026 West Asia Growth Forecast to 0.7%

Dubai's gross domestic product reached AED 232 billion (about $63.2 billion) in the first quarter of 2026, up 2.4 percent year on year, driven mainly by growth in non oil sectors. According to The National, reporting July 8, 2026, the IMF simultaneously cut its 2026 growth forecast for West Asia to 0.7 percent, a 1.2 percentage point downgrade from its April estimate. The IMF attributed the cut to the fallout from the Strait of Hormuz closure on the region's energy exports.

The National · Jul 11, 2026

Strait of Hormuz Shipping Traffic Collapses; No Large Vessel Has Crossed the Southern Route Since July 7

According to Bloomberg, reporting July 9, 2026, shipping traffic through the Strait of Hormuz has collapsed. Data from Lloyd's List Intelligence, also cited by Al Jazeera on July 10, shows no vessel above 10,000 dwt with its AIS transponder on has transited the so called Southern Highway route since July 7. Bloomberg reported only five vessels crossed the strait on Wednesday and early Thursday (July 8 and 9), down from 45 transits on Monday, July 6. Before the US and Israeli war on Iran began in late February 2026, roughly 130 vessels crossed the strait daily.

Bloomberg · Jul 11, 2026

Oman's OMIFCO Surges Up to 23% on Muscat Debut After Record IPO Demand

Shares of Oman India Fertiliser Company (OMIFCO) closed up as much as 23% on their trading debut on the Muscat Stock Exchange on Wednesday, July 8, 2026, rising from an offer price of 0.156 Omani rial to 0.185 Omani rial. The company raised 260.9 million Omani rial (678 million dollars) by floating 25% of its share capital. Demand for the offering reached around 4.7 billion Omani rial (12.2 billion dollars), making it 18 times oversubscribed and the highest ever recorded demand for any IPO in Oman's history. The strong reception came even as regional shipping continues to grapple with elevated war risk insurance costs for transiting the Strait of Hormuz, suggesting Persian Gulf capital market investors remain confident in regional assets despite the Iran crisis.

Muscat Daily · Jul 11, 2026

QNB Group Posts 3.2% Rise in H1 Net Profit as Qatar's Top Lender Cites Resilience Amid Regional Risk

QNB Group, the Persian Gulf's largest bank by assets, reported on Wednesday, July 8, 2026 that first half 2026 net profit rose 3.2% year on year to QR8.67 billion. Operating income climbed 11% to QR24.1 billion and total assets grew 6% to QR1.438 trillion. A follow up report published July 9, 2026 showed second quarter net profit alone reached QR4.3 billion (1.2 billion dollars), up 5% year on year. QNB's CEO attributed the results to strong risk management despite regional and global challenges, an implicit reference to the ongoing US Iran tensions that have kept Persian Gulf regional risk elevated for international investors.

Gulf Times · Jul 11, 2026

Qatar Pauses Plan to Ramp Up LNG Output After Tanker Attack in the Strait of Hormuz

Qatar's state energy company QatarEnergy paused its plan to ramp up production at the Ras Laffan complex, the world's largest LNG facility, after the Qatari tanker Al Rekayyat was struck in the Strait of Hormuz on Tuesday, July 7, 2026 (16 Tir 1405). According to a Bloomberg report dated July 9 (18 Tir), QatarEnergy CEO Saad al Kaabi decided to halt the output increase following meetings held after the attack, keeping operations at a minimum for safety and reducing the number of vessels scheduled to dock at the complex in the coming days. Business Standard (tbsnews.net) reported that Ras Laffan may not fully resume normal operations before August. Qatar is the world's second largest LNG exporter, and the pause could tighten global gas supply heading into the winter season.

Bloomberg · Jul 11, 2026

Gulf Bourses Fall as Iran Strikes US Bases in Kuwait, Qatar and Bahrain

Gulf stock markets closed lower on Thursday, July 9, 2026, after Iran launched drone and missile attacks on US military infrastructure in Kuwait (Patriot air defense systems), Qatar (an early warning site) and Bahrain (fuel storage), and fired 10 ballistic missiles at Jordan's Azraq base. Business Recorder reported Dubai's DFM index fell 1.5 percent (Salik down 2.7 percent, Emaar down 1 percent), Abu Dhabi's ADX fell 0.6 percent (Alpha Dhabi down 3.5 percent), Qatar's index fell 0.8 percent (QNB down 1 percent despite reporting higher quarterly profit), Saudi Arabia's TASI closed flat (Aramco up 2.6 percent), and Kuwait's market posted modest gains. Brent crude jumped $3.14, or 4.23 percent, to $77.30 a barrel at 12:31 GMT that day.

Business Recorder · Jul 11, 2026

IMO Council Rejects Iran's Claim to Control the Strait of Hormuz

The International Maritime Organization's governing Council, a United Nations body, strongly condemned Iran on Friday, July 10, 2026, for creating a "Persian Gulf Strait Authority" that requires ships to obtain a "valid passage permit" before transiting the Strait of Hormuz. The Council called on member states not to recognize Iran's claimed sovereignty or jurisdiction over the strait, or any Iranian action to restrict or obstruct the internationally recognized right of transit passage. Iran, which does not hold a Council seat, rejected the decision as "selective, politically motivated and legally unfounded" and said it is not bound by the UN Convention on the Law of the Sea. This is the first formal multilateral rebuke of Iran's Hormuz control claim by an international body, and could reinforce the legal basis for global shippers to disregard Iran's permit regime, a dynamic that has already pushed war risk insurance premiums for the strait higher.

gCaptain · Jul 11, 2026

GeneralPersian Gulf

Qatari Delegation Travels to Tehran to Bolster Doha's Mediation Role

A delegation from Qatar traveled to Iran to bolster Doha's mediation role between Washington and Tehran, the Associated Press reported on Friday, July 10, 2026 (19 Tir 1405), citing Iran's Tasnim news agency. The visit came as the US president said talks with Iran would continue, even as military tensions between the two countries have escalated again since July 7. Progress in Qatari mediation could influence regional market sentiment and oil prices.

The Associated Press (via U.S. News) · Jul 11, 2026

Joint Maritime Information Center Raises Strait of Hormuz Threat Level to "Severe"

The Joint Maritime Information Center (JMIC) raised the Strait of Hormuz threat level from "substantial" to "severe" in an advisory dated July 7, 2026 (16 Tir 1405), stating that an attack on commercial vessels is now "highly likely." The assessment followed a single day in which three commercial tankers were attacked near the strait. The upgraded warning has pushed war-risk insurance costs higher and made international shipping lines more cautious about transiting the key energy waterway.

Seatrade Maritime · Jul 11, 2026

CENTCOM: Iran Does Not Control the Strait of Hormuz; Over 800 Vessels, 380 Million Barrels Facilitated Since May

U.S. Central Command (CENTCOM) said on Thursday, July 9, 2026, that "Iran does not control the Strait of Hormuz," rebutting Iranian state media claims that transit through the strait is only permitted via routes designated by Tehran. CENTCOM said U.S. forces have helped facilitate the successful transit of more than 800 commercial vessels carrying approximately 380 million barrels of crude oil through the waterway since early May 2026. The statement came amid heightened tensions following Iranian attacks on commercial ships in the strait and a sharp drop in shipping traffic through the waterway in recent days.

خبرگزاری آسیایی ای‌ان‌آی (ANI) · Jul 10, 2026

GoldPersian Gulf

Dubai Gold Eases as Higher US Yields Blunt Safe Haven Demand

24-karat gold in Dubai fell to 495.75 dirhams per gram on Friday, July 10, 2026, down from 497.25 dirhams on Thursday, while 22-karat gold slipped to 459 dirhams from 460.50 dirhams, according to Gulf News. Elevated US Treasury yields and a firmer dollar, amid uncertainty over the Federal Reserve's rate path, offset some of the safe haven demand generated by the Iran-US war. Global gold prices nonetheless remained above 4,100 dollars an ounce.

Gulf News · Jul 10, 2026

Qatar and Kuwait Bourses Slide as Iranian Strikes Hit US-Linked Gulf Sites

Persian Gulf stock markets slid after Iran fired missiles and drones at US-linked sites in Kuwait and Bahrain and put Qatar on high alert on Thursday, July 9, 2026. According to Reuters, via Business Recorder (July 10, 2026), Qatar's stock index fell 0.8% and Qatar National Bank shares dropped 1%, while Kuwait's Boursa Kuwait also declined. The selloff coincided with Brent crude jumping to $77.30 a barrel. This marks the first time the equity-market reaction has been specifically documented spreading to the Qatari and Kuwaiti bourses, beyond the Dubai and Abu Dhabi declines reported earlier.

Business Recorder (Reuters) · Jul 10, 2026

Saudi Aramco Cuts Official Asia Oil Price in Biggest Reduction in Decades

Saudi Aramco cut its official selling price (OSP) for Arab Light crude to Asia by $11 a barrel for August loadings, moving it to a $1.50 discount versus the Oman/Dubai average, down from a $9.50 premium the prior month. According to Bloomberg (July 6, 2026), it is Aramco's largest official price cut since 2003 and the first time Arab Light has sold at a discount since the 2020 oil price war. Outlets cited weakening Chinese demand and a global supply surplus as the main drivers, even as geopolitical risk from the Strait of Hormuz crisis keeps global oil prices elevated. The move challenges the "war premium" narrative that has recently dominated oil markets, showing supply and demand fundamentals are also at work.

Bloomberg · Jul 10, 2026

Strait of Hormuz Shipping Grinds to Near Halt as Just 13 Tankers Cross Versus 33 Daily Average

Shipping traffic through the Strait of Hormuz, one of the world's most critical oil transit routes, ground to a near halt after the US and Iran traded strikes for a second straight day on Wednesday, July 8, 2026. According to ship-tracking data cited in news reports, only 13 tankers crossed the strait on Wednesday, compared with an average of 33 per day over the previous week. Reports say the US-backed Omani corridor, set up for safer tanker passage, was effectively empty of observable traffic on Thursday, July 9. Qatar separately said it had paused efforts to revive production at the world's largest liquefied natural gas facility due to concerns over the risks of transiting the strait. Reports indicate shipowners are increasingly using alternate routes and switching off tracking systems to reduce risk. The developments have coincided with a rising risk premium in global oil and gold markets.

Insurance Journal · Jul 10, 2026

Saudi Arabia's TASI Index Fell 0.23% as US-Iran Tensions Flared Again

Saudi Arabia's Tadawul All Share Index (TASI) fell 0.23 percent during trading on Sunday, July 5, 2026, as investors weighed a fresh round of attacks between the US and Iran and the durability of the interim peace deal. According to Finimize, the decline came after Iran's Revolutionary Guard struck US military targets in Bahrain and Kuwait and Trump warned of possible military action, with both sides accusing each other of violating the interim agreement. TASI has nonetheless remained up nearly 2.9 percent year-to-date in 2026.

Finimize · Jul 10, 2026

Dubai and Abu Dhabi Stock Markets Have Shed More Than $120 Billion Since the Iran War Began

According to a report published in Persian Gulf business media including Zawya on Thursday, July 9, 2026, Dubai's DFM General Index has lost about $45 billion in market capitalization and Abu Dhabi's ADX General Index about $75 billion since the Iran-Israel war began in late March 2026, a combined toll of more than $120 billion previously also reported by Al Jazeera. The report said the DFM index fell 1.5 percent in one recent trading session alone as concerns over the Strait of Hormuz intensified. Analysts said the war's impact on Gulf-listed companies has been uneven, with tourism- and aviation-linked sectors hit hardest.

Zawya · Jul 10, 2026