Oil gained as tensions in the Middle East flared while traders monitored progress toward a deal between Iran and Oman to partially restore shipping through the Strait of Hormuz.
Oil prices showed little movement on 10 Aug, Monday, after early gains faded, as progress on talks to reopen the Strait of Hormuz was clouded by continued demands from Iran, reported Reuters.
Egypt is planning to increase oil and gas production, attract new investment, and reduce petroleum imports as part of its 2026/2027 economic and social development strategy.
Gold pushed toward $4,450 an ounce Tuesday, its best level in about two months, as a stalled U.S.-Iran deal to reopen the Strait of Hormuz kept oil elevated and traders braced for a Wednesday inflatio
France’s economy is set to maintain its momentum this quarter, thanks to growth in key sectors and cooler inflation, according to the central bank.
Kenya’s central bank warned inflation could breach its target if the US-Iran war persists, as policymakers held the benchmark interest rate for a third time in a row to monitor the conflict’s impact o
Brent holding $80-85 range. OPEC+ discipline intact through Q3. Non-OPEC supply growth slowing. Asian demand forecast revised up 0.4% by IEA.
GCC bank profits up 18% YoY. NIMs stabilizing. Loan growth strongest in Saudi (22%) and UAE (16%). DIFC: 47 new fintech licenses Q1.
Dubai residential transactions hit AED 42B in April — monthly record. Saudi giga-project awards reached $18B Q1.
Gulf VC: $1.2B across 84 deals Q1. Saudi startups 37% of total. Fintech and logistics lead. 3 deals above $50M in Riyadh.
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