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Qatar's energy minister Saad al-Kaabi speaks at the Qatar Economic Forum in Doha on May 20, 2025. Karim Jaafar/AFP/Getty Images RIYADH, March 6, 2026 (Saudi Arabia Breaking News) — The ongoing conflict in the Middle East could force Gulf energy exporters to shut down production within days and push oil prices to $150 a barrel, Qatar’s energy minister Saad al-Kaabi said in an interview with the Financial Times. Al-Kaabi said crude prices could reach $150 within two to three we

PHOTO: An aerial view of the island of Qeshm in the Strait of Hormuz, December 10, 2023. REUTERS/Stringer RIYADH, March 6, 2026 (Saudi Arabia Breaking News) — Around 50 French ships are currently blocked in the Persian Gulf and another eight in the Red Sea, France’s transport minister said on Friday, as Paris seeks support to build a coalition to secure shipping in the region. Transport Minister Philippe Tabarot said 52 vessels were in the Persian Gulf and eight in the Red Se

PHOTO: The Iranian shores in the Strait of Hormuz, December 10, 2023. REUTERS/Stringer Riyadh, March 4, 2026 (Saudi Arabia Breaking News) – The crisis that has paralysed shipping through the Strait of Hormuz showed no sign of abating on day five of the Middle Eastern conflict. At least 200 ships, including oil and liquefied natural gas tankers as well as cargo ships, remained at anchor in open waters off the coast of major Gulf producers Iraq, Saudi Arabia and Qatar. The figu

People sit on a bench on the Sheikh Jaber al-Ahmad al-Sabah Causeway as a Zhonggu Shipping container ship sails past on its way towards the port of Shuwaikh in Kuwait City on Saturday. Yasser Al-Zayyat/AFP/Getty Images Dubai, March 4, 2026 (Saudi Arabia Breaking News) – Shipping disruptions linked to the Iran war matter beyond oil because Gulf Arab states import most of their food, and much of it moves through the Strait of Hormuz. Six Gulf Arab nations, Oman, Saudi Arabia, t

Riyadh, March 3, 2026 (Saudi Arabia Breaking News) – U.S. President Donald Trump said on Tuesday he ordered the U.S. International Development Finance Corporation to provide political risk insurance and financial guarantees for maritime trade transiting the Persian Gulf, with coverage available to shipping lines immediately. Trump, writing on Truth Social, suggested the United States Navy would begin escorting tankers through the Strait of Hormuz if necessary, and said the Un

An aerial view of the Iranian shores and the island of Qeshm in the strait of Hormuz, December 10, 2023. REUTERS/Stringer Riyadh, March 3, 2026 (Saudi Arabia Breaking News) – Iranian media reported the Strait of Hormuz was closed and that Iran would fire on any ship trying to pass. About a fifth of global oil consumption moves through the strait. The Strait of Hormuz lies between Oman and Iran, linking the Gulf with the Gulf of Oman and the Arabian Sea beyond. It is 21 miles