Egyptian smallholders have seen their lives upended by the Iran war, with soaring fertiliser prices forcing many to lay off workers and reduce cultivation.
UAE banks chief says Iran war hasn’t triggered capital flight or dollar shortages, as UAE pursues a currency swap deal with the US.
Oil prices once again rose on Friday following renewed clashes in the Strait of Hormuz between Iran and the US.
US crude was last up 0.1 percent to $102.03 a barrel and Brent rose to $110.36 per barrel, up 2 percent on the day
Saudi Arabia, Russia and allies lift June output quotas by 188,000 barrels a day in signal of OPEC+ stability despite UAE exit and Hormuz blockade.
Venezuela signed deals with US companies in a bid to boost oil and gas production, the latest sign of thawing relations following Maduro's ouster.
The Strait of Hormuz's closure and tensions in the Red Sea are reshaping trade routes, with Africa becoming a hub of global container ship traffic.
The UAE is reviewing its role in multilateral organisations after exiting OPEC, but officials say no further withdrawals are planned despite regional tensions.
Oil prices rose Monday while stocks were mixed with the United States and Iran no closer to ending their eight-week-old war.
Spain has called on consumers to buy flight tickets as soon as possible to avoid the risk of higher fares caused by rising oil prices amid the Iran war.