Jack Dutton
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Articles by Jack Dutton
EU states back one-year delay for methane rules amid Iran war
European Union member states have backed a one-year delay to rules requiring oil, gas and coal importers to monitor and report methane emissions, citing disruption to energy markets caused by the US-Israeli war on Iran. What happened: The Council of the European Union, representing the bloc’s 27 member states, said in a statement on Friday that it agreed to delay the monitoring, reporting and verification requirements from Jan.
Suez Canal revenue jumps 94% despite Houthi Red Sea threats
Traffic and revenue through Egypt’s Suez Canal reached their highest monthly levels in October since Houthi attacks began disrupting Red Sea shipping in late 2023. In a statement on Thursday, the Suez Canal Authority quoted its chairman, Osama Rabie, as saying that the waterway was seeing a “remarkable improvement despite the geopolitical challenges in the region.” He made the comments at a panel discussion organized by the Egyptian Businessmen Association, according to the statement.
Gulf markets gain, oil falls as Democrats win Congress
Gulf markets advanced and oil prices fell on Wednesday morning after Democrats took back the US Congress in the midterm elections as investors weighed the implications for Washington’s war with Iran. What happened: The Democrats are on course for a larger-than-expected victory against the Republican Party in a resounding blow to the administration of President Donald Trump, whose eight-month war against Iran has pushed up gas prices and fanned inflation.
Democrats’ win: What’s at stake for Gulf business
Welcome back to AL-MONITOR Business & Tech. Oil prices plunged on Wednesday as Vice President JD Vance blamed the Iran war for Republicans’ midterm rout. Meanwhile, AI deals took center stage at Abu Dhabi’s ADIPEC energy conference as the UAE pushed to expand the technology’s use across its energy sector. Thanks to Sam Wendel for contributing to this newsletter. Sign up for weekly updates here.
Aramco begins expansion of oil export route bypassing Hormuz
Saudi Aramco has begun work to expand its East-West Pipeline's capacity from 7 million to 10 million barrels per day, chief executive Amin Nasser said Tuesday on the effort to bolster a crucial crude export route amid disruption in the Strait of Hormuz. What happened: Nasser said on a third-quarter results call with analysts on Tuesday that work was underway to expand the pipeline and build additional networks.
UAE taps French firm for first-ever natural hydrogen exploration: What to know
The United Arab Emirates’ natural hydrogen resources are set to be explored for the first time as the Gulf country looks to tap the gas to help it decarbonize industrial sectors. What happened: Mantle8, a French natural hydrogen exploration company, secured the right to negotiate an exploration contract for Block 7 in the emirate of Ras Al Khaimah under an agreement with the emirate’s Department of Energy, the company announced in a statement on Monday.
UAE’s Al Habtoor Group to sell all assets in Lebanon: What to know
Al Habtoor Group has decided to sell all its assets and investments in Lebanon, including hotels, commercial and residential properties and land, the Dubai-based conglomerate said on Monday. What happened: The decision, approved by the group’s board of directors, marks Al Habtoor Group's complete withdrawal from a market it has been investing in since the late 1990s. On Jan.
Oil tops $114 as traders brace for Iran escalation after US midterms
Oil prices rose more than 3% on Friday, putting Brent crude on track for a fourth consecutive monthly gain, as traders braced for a potential escalation in the US-Iran war following next week’s US midterm elections. A reported attack on a tanker in the Strait of Hormuz added to upward pressure on prices, as disruption to the critical global energy shipping route continued. Brent crude, the international benchmark, rose 3% to $114.12 a barrel, as of 11:03 a.m. EDT.
Qatar becomes largest buyer of LNG from US amid Hormuz disruption
Qatar has secured additional liquefied natural gas supplies from the United States under long-term deals as the war with Iran disrupts its own LNG production and exports through the Strait of Hormuz. Last year, Qatar was the world's second-largest producer, behind only the US. Australia’s Woodside Energy will supply state-owned QatarEnergy with 3 million metric tons per year of LNG from its Louisiana project under a 20-year deal to begin in 2030, the companies said on Thursday in a statement.
Israel’s next economic test
SUBSCRIBER EXCLUSIVE Continue reading this exclusive analysis Original reporting and analysis unavailable elsewhere. Subscribe to AL-MONITOR to read this story and access everything we publish
Saudi oil infrastructure in crosshairs as Houthis claim Ras Tanura strike
A fire reportedly broke out on Tuesday near Saudi Aramco facilities in Ras Tanura, the kingdom’s largest export terminal in the Gulf, after a reported missile strike by Yemen’s Iran-backed Houthi rebels. What happened: A fire broke out near the Ras Tanura oil export terminal in the early hours of Tuesday and was later contained, Bloomberg reported, citing a source with knowledge of the matter. The extent of the damage was not immediately clear.
UAE battles tanker oil spill as war's environmental toll mounts
The United Arab Emirates is working to contain an oil spill from a tanker off its coast as maritime analysts warn that the slick could threaten ports and desalination infrastructure in the northern emirates. What happened: The UAE Climate Ministry said in an X post Friday that it had detected the spill off Umm Al Quwain, north of Dubai, and began containment, cleanup and environmental assessments.
What Iran’s threats to Hormuz internet cables mean for Gulf
Iran’s Islamic Revolutionary Guard Corps has resumed threats to attack undersea internet cables in the Strait of Hormuz, putting the Gulf’s digital infrastructure at risk as Tehran warns against new US and Israeli strikes. What happened: The IRGC’s political chief, Brig. Gen. Yadollah Javani, warned Wednesday that Iran could target undersea internet cables passing through Hormuz if the United States or its allies attack Iranian infrastructure.
What Iran’s threats to Hormuz internet cables mean for Gulf
Iran’s Islamic Revolutionary Guard Corps has resumed threats to attack undersea internet cables in the Strait of Hormuz, putting the Gulf’s digital infrastructure at risk as Tehran warns against new US and Israeli strikes. What happened: The IRGC’s political chief, Brig. Gen. Yadollah Javani, warned Wednesday that Iran could target undersea internet cables passing through Hormuz if the United States or its allies attack Iranian infrastructure.
China-Saudi consortium wins $306M World Cup stadium deal: What to know
A Chinese-Saudi consortium has won a contract worth 1.15 billion riyal ($306 million) for work on a planned World Cup stadium at Qiddiya, as Saudi Arabia presses ahead with its long-term sports and entertainment ambitions despite Houthi attacks disrupting its immediate events calendar. What happened: IKK Fangda JV Co., which is 51% owned by China Fangda Group’s Shihui International Holdings and 49% owned by Saudi-based Isam Kabbani & Partners, a subsidiary of IKK Group, signed a contract on Oct.
China-Saudi stadium deal puts Saudi World Cup ambitions in focus amid attacks
A Chinese-Saudi consortium has won a contract worth 1.15 billion riyal ($306 million) for work on a planned World Cup stadium at Qiddiya, as Saudi Arabia presses ahead with its long-term sports and entertainment ambitions despite Houthi attacks disrupting its immediate events calendar. What happened: IKK Fangda JV Co., which is 51% owned by China Fangda Group’s Shihui International Holdings and 49% owned by Saudi-based Isam Kabbani & Partners, a subsidiary of IKK Group, signed a contract on Oct.
Gulf oil exports surpass prewar levels despite escalating tanker attacks
Oil exports out of the Gulf have surpassed prewar levels, as a makeshift shipping system supported by the US Navy and the greater use of alternative routes keeps crude flowing even as Iran intensifies attacks on vessels in the Strait of Hormuz.
Saudi economic ambitions under strain
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Macron secures Gulf diesel supplies as France grapples with fuel costs, unrest
French President Emmanuel Macron has secured commitments for an additional 200,000 metric tons of diesel per month from the United Arab Emirates and Bahrain during a Gulf tour, the Elysee Palace said Tuesday, as high fuel prices fuel public anger in France. What happened: The French presidency said in a statement that the additional supplies comprise around 100,000 metric tons a month from the UAE and another 100,000 monthly expected to be secured during Macron’s stop in Bahrain later Tuesday.
Indonesia first foreign country to own property in Saudi Arabia's Mecca
Indonesia has become the first foreign state to own property in Saudi Arabia’s holy city of Mecca, after sovereign wealth fund Danantara Indonesia received ownership certificates for a 2 billion-riyal ($531.4 million) acquisition. What happened: The real estate assets were acquired by Danantara Indonesia, through its investment arm, Danantara Investment Management, at Thakher Makkah, a major urban development about 1.2 kilometers north of the Grand Mosque, or Masjid al-Haram.
Saudi Arabia postpones 'Davos in the Desert' until 2027 amid Houthi attacks
Saudi Arabia postponed its flagship investment conference, known as "Davos in the Desert," to 2027 on Monday amid attacks on the kingdom by Yemen's Iran-backed Houthi rebels on targets including Riyadh's international airport. What happened: The Future Investment Initiative, which typically attracts the CEOs of some of the biggest companies in business, finance and technology to Riyadh, will now be held in 2027, the organizers said in a statement, without giving new dates.
How much oil can cushion another Middle East supply shock?
Global oil inventories have fallen to their lowest level in nearly a decade as the Iran war and disruption to shipping through the Strait of Hormuz drain the market’s supply cushion. A brief recovery last month in Middle Eastern oil exports has faltered amid renewed attacks, complicating efforts to replenish stocks. Saudi Aramco chief executive Amin Nasser warned on Oct.
Russian diesel heads to Morocco as supply crunch grips global markets
A tanker carrying around 40,000 metric tons of Russian diesel is reportedly heading to Morocco after Moscow eased export restrictions, as high fuel prices weigh on consumers and governments seek relief from a global diesel shortage. What happened: The tanker was reportedly heading toward the North African country after loading at Russia’s Baltic port of Primorsk on Oct. 13, Reuters reported Wednesday, citing London Stock Exchange Group shipping data.
Syria to rejoin Arab group at IMF, leaving Russian-led constituency
Syria will rejoin the Arab constituency at the International Monetary Fund on Nov. 1, leaving the Russian-led group it joined in 2012, the Finance Ministry said in a statement Wednesday. The move is part of Damascus’ push to reengage with international financial institutions as it seeks billions of dollars in financing for postwar reconstruction.
From Six Kings Slam to FIFAe finals, Saudi Arabia's events derailed by war
Saudi Arabia has canceled or postponed a slew of international events amid regional instability and escalating attacks by the Iran-aligned Houthi rebels on key infrastructure hubs across the kingdom. The conflict intensified over the weekend, with Houthi strikes on Riyadh’s international airport on Saturday and Sunday killing 13 people and wounding more than 300.
IMF projects Gulf rebound in 2027. Can energy production keep pace?
The International Monetary Fund forecast a downturn in Middle Eastern economies this year as the war that began in February continues to disrupt activity, according to its report released Tuesday. However, it expected the region to rebound next year, provided the Strait of Hormuz reopens by March 2027.
Jeddah airport flights disrupted as Houthis escalate threats
Saudi Arabia’s busiest airport, King Abdulaziz International Airport in Jeddah, saw widespread flight cancellations and delays on Tuesday amid increasing attacks by Yemen’s Iran-backed Houthi rebels on the kingdom’s main aviation hubs. As of 6 p.m. local time (11 a.m. EST), 182 flights had been canceled, accounting for 23% of scheduled flights, while 255, or 32%, had been delayed, according to Flightradar24.
Saudi Arabia outlines oil export plans amid escalating Houthi attacks
Saudi Arabia outlined plans on Monday to expand its oil export capacity through pipelines as Riyadh’s international airport remained closed following Houthi attacks that killed 14 people over the weekend and disrupted travel to a major energy congress in the capital. What happened: Saudi authorities extended the suspension of operations at King Khalid International Airport on Monday to complete safety checks and ensure its facilities were ready to reopen.
Riyadh’s skies remain unsettled after deadly Houthi strikes
Some flights into Riyadh’s King Khalid International Airport were operating on Friday evening, but hundreds remained delayed or canceled a day after Houthi attacks killed three Saudi citizens and prompted airlines to suspend flights to the Saudi capital. As of 6:27 p.m. Riyadh time (11:27 a.m. EST), Flightradar24 showed 313 delayed flights, or 44% of the day’s scheduled services, and 144 cancellations, or 20%.
Riyadh airport issues travel alert as Houthis claim fresh attack
Flights to and from Riyadh were severely disrupted on Thursday after Yemen’s Iran-backed Houthi rebels claimed they had targeted the Saudi capital’s main airport, King Khalid International Airport. The airport issued a travel alert on Thursday urging passengers to contact their airlines and confirm their flight status before heading to the airport. What happened: Flightradar24, a website that tracks global air traffic, showed hundreds of cancellations and delays at the airport on Thursday.
Iraq devalues dinar 13% as Hormuz disruption hits oil revenue
Iraq devalued its currency by around 13% against the dollar on Wednesday as disruptions to oil exports during the Iran war squeeze government revenue. What happened: The OPEC member’s central bank announced a new exchange rate of 1,520 Iraqi dinars to the dollar, replacing the rate of around 1,320 set in 2023. The Cabinet approved the change on Tuesday evening “to meet the relevant financial, economic and monetary requirements,” the bank said.
Flights continue in Saudi Arabia despite Houthi attacks, airspace threats
Flights continued in Saudi Arabia on Tuesday despite overnight Houthi attacks on two southern airports, as the Iran-backed rebels renewed their warning to international airlines to avoid the kingdom’s airspace. What happened: Saudi Arabia’s General Authority of Civil Aviation said Tuesday that attacks on King Abdullah bin Abdulaziz International Airport in Jazan and Najran International Airport on Monday evening damaged facilities and wounded three people.
Mideast oil exports surpass prewar levels despite pipeline, ship attacks
Middle East crude exports exceeded prewar levels for nearly half of September, preliminary data released Monday showed, but recent attacks on tankers and conflicting reports about a fresh attack on Saudi Arabia’s East-West Pipeline continue to threaten the region’s export recovery. What happened: Regional crude exports exceeded prewar levels for 14 days in September, according to provisional data from ship-tracking firm Kpler reported by Reuters on Monday.
Turkey’s $20B fund crisis: Who profited, and who will pay?
Turkey’s $20 billion investment fund scandal is drawing more figures from the ruling party into the fallout, with a senior official’s son briefly facing asset restrictions and a former economy minister disclosing that companies he co-owns have money trapped in an affected fund.
Israel-UAE flights disrupted as airlines plan rescue flights: What to know
FlyDubai's suspension of Israel flights left travelers without a major Dubai connection on Thursday, with Emirates also halting onward bookings to Tel Aviv and Israeli airlines preparing flights to bring stranded passengers home. The disruption followed Wednesday’s cockpit attack aboard a Dubai-Tel Aviv flight that diverted to Saudi Arabia.
FlyDubai flight lands in Tel Aviv after distress alert, Saudi diversion
A FlyDubai flight carrying 174 passengers landed safely in Tel Aviv on Wednesday morning after an altercation in the cockpit prompted a distress call while the aircraft was en route from Dubai, triggering an emergency response in Saudi Arabia and sending Israeli fighter jets scrambling. The flight included 27 children, according to Ynet. With 100 Israeli nationals among those on board, Israeli security agencies initially feared that the plane had been hijacked, Israeli outlet Kan reported.
Iran’s rial hits record low as pressure on oil exports mounts
The Iranian rial plunged to a record low against the US dollar on Tuesday, underscoring the mounting economic pressure on Tehran as Washington tightens sanctions and restricts the country's oil exports. What happened: The rial was trading at more than 2.54 million to the dollar in Tehran's open market on Tuesday, down from around 2.4 million on Monday, according to Pashizi, a website tracking Iran's free foreign exchange market.
Oil rises amid Hormuz impasse, Trump attack threat
Oil prices rose by more than 3% on Monday as hopes of reopening the Strait of Hormuz faded after President Donald Trump rejected Iran’s latest proposal. What happened: Brent crude, the international benchmark for oil prices, rose by more than 3% on Monday but has since eased back to $105.03 per barrel as of 12:32 a.m. EDT on Monday. Oil rose after weekend reports suggested talks to reopen the Strait of Hormuz, a key route for energy shipments, had stalled.
Qatar's extended LNG force majeure prolongs supply cuts to Europe, Asia
Qatar has reportedly extended a force majeure affecting liquified natural gas shipments to Asia and Europe by another month as disruptions in the Strait of Hormuz continued to constrain energy flows. What happened: Italy’s Edison said Monday that QatarEnergy would be unable to deliver LNG to it until early December.
Saudi Arabia’s return to Hormuz puts oil transfer network to the test
Ship-to-ship (STS) transfers in the Gulf of Oman have reportedly reached their limits after an attack on Saudi Arabia’s East-West Pipeline forced the kingdom to send more crude through the Strait of Hormuz. What happened: According to shipping analytics firm Kpler, STS transfers of liquid cargo in the Gulf of Oman averaged 3.7 million barrels per day from the start of the war on Feb. 28 through Sept. 21, up from 160,000 barrels per day in 2025.
Iran flights continue, UAE route closes on day 2 of US sanctions
Iranian flights to the United Arab Emirates were canceled on Thursday, even as carriers continued serving other foreign destinations on the second day of a US push to ground them worldwide. What happened: All flights by Iranian carriers to the UAE were canceled as of midnight, Iran’s ISNA news agency reported Thursday, citing a spokesperson for the country’s Civil Aviation Organization.
US moves to ground Iran’s airlines: Who is complying and who isn’t?
Iranian carriers were still flying to China, Thailand, Turkey and other destinations on Wednesday, hours after new US sanctions took effect with the aim of grounding them worldwide. Flight-tracking data indicated that foreign airlines had largely complied. What happened: Flightradar24 showed scores of flights leaving Iran on Wednesday for destinations including Bangkok and Phuket in Thailand, Shanghai in China and Kabul in Afghanistan.
Washington’s Iran airline squeeze
US sanctions aimed at grounding Iranian airlines worldwide took effect Wednesday, but the country’s carriers continued to fly. Saudi Arabia also restarted a key oil pipeline this week, while hopes grew that Tehran and Washington could return to negotiations to end the war.
Turkish carriers halt Iran flights as US sanctions bite: Who could follow?
Three Turkish carriers have canceled all Iran flights, the first major domino to fall as new US sanctions further isolate the country’s already diminished aviation sector. What happened: On Monday, three major Turkish carriers — Turkish Airlines, AJet and Pegasus — canceled flights to and from Iran ahead of new US sanctions against Iran’s aviation sector taking effect.
Saudi Aramco curbs Europe crude exports to support Asia supplies
Saudi Arabia’s state-backed oil giant, Aramco, has reportedly cut its crude exports to European customers for September and October while shifting more barrels to Asian buyers as the kingdom's energy trade routes remain under pressure amid the Middle East conflict. What happened: Saudi Aramco has reportedly halted crude deliveries to at least two European refiners for next month following the closure of the East-West Pipeline, Bloomberg reported on Friday.
Serbia opens factory to assemble Israeli-made drones: What to know
Serbia has opened a factory to assemble advanced Israeli-made drones that will supply the Serbian military and armed forces in other countries, President Aleksandar Vucic said Thursday. What happened: In an Instagram post, Vucic said the factory will assemble “state-of-the-art” Israeli-designed drones and employ around 100 workers. The facility is in Simanovci, roughly 30 kilometers west of Belgrade.
How soon can Saudi Arabia restart its key oil pipeline?
Saudi Arabia is reportedly planning to restore its critical cross-country oil pipeline to around half capacity within days after it was shut down on Friday following a drone attack. What happened: State-run oil company Saudi Aramco is working to bypass a damaged section of the East-West Pipeline, Bloomberg reported on Wednesday, citing a person familiar with the matter. The source said Aramco is looking to restore the pipeline to full capacity in about six weeks.
Saudi oil squeeze deepens
Welcome back to AL-MONITOR Business & Tech. Saudi Arabia’s oil squeeze deepened this week as Houthi advances around the Bab el Mandeb compounded disruptions to the kingdom’s export infrastructure and dwindling traffic through the Strait of Hormuz, further tightening global supplies. Elsewhere, fuel price hikes sparked Syria’s largest protests since Bashar al-Assad’s fall, while AWS revealed lasting damage to its cloud infrastructure in Bahrain and the United Arab Emirates.
What does Amazon war damage mean for Gulf cloud expansion?
Amazon Web Services said on Tuesday that it cannot restore access to its cloud computing facility in Bahrain and one of three data-hosting zones in the United Arab Emirates after damage from attacks during the Iran war. What happened: AWS, Amazon’s cloud computing unit, said the damage in Bahrain spanned multiple so-called availability zones, which are clusters of one or more data centers in the same region, according to a company status update.
Saudi pipeline shutdown exposes shrinking global oil-supply buffers
The shutdown of Saudi Arabia’s East-West Pipeline has knocked out the kingdom’s main route for bypassing the Strait of Hormuz, threatening to remove another major source of crude from a global market whose wartime buffers are already shrinking. Two regional officials told the Associated Press on Monday that the pipeline would probably remain largely out of service for several weeks while the damage is repaired.
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