The Latest Breaking News from Gulf

Could a UN-backed plan to reopen Hormuz break the deadlock?

In this week’s Fortune Gulf Brief.

Fortune · Aug 4

Global Market: Goldman Sachs sees Brent crude trading at $80-$90 until Iran conflict outlook clears

Goldman Sachs forecasts Brent crude prices between $80 and $90 per barrel. This range persists until clarity emerges on US-Iran nuclear talks. Physical oil markets are tightening significantly due to reduced flows from key regions. Gulf oil exports have dropped substantially from pre-war levels. Russian crude supplies also show a…

The Economic Times · Aug 4

India's next billion dollars from abroad may depend on easier visas

India's record remittance boom faces a new long-term challenge as tighter immigration policies in developed economies threaten the pipeline of future migrants. While experts see no immediate risk to inflows, they warn that future growth could become increasingly dependent on visa regimes and skilled migration trends.

The Economic Times · Aug 4

A new Houthi front and expanded Iranian attacks risk sinking Gulf nations’ choke-point workaround and widening shipping risks

After a nine-month pause, Houthi militants in Yemen allied to Iran resumed attacks on vessels in the Red Sea on July 22, 2026, directly targeting the group’s longtime foe Saudi Arabia. A week later, a floating liquefied natural gas storage facility in Egypt’s Mediterranean port of Damietta was struck by…

The Conversation · Aug 3

How Iran is widening its pressure campaign to force US concessions

Iran is pursuing a strategy of calibrated escalation to raise the economic and strategic costs for the US and its allies by threatening the Strait of Hormuz, key shipping lanes and energy infrastructure. Analysts say Tehran aims to strengthen its negotiating position, expand regional influence and force concessions without triggering…

The Economic Times · Aug 3

China's WeRide enters Denmark, extending European footprint

Europe has emerged as a key growth market for ‌China's autonomous driving ⁠companies, ⁠following an earlier push into the Gulf region, as they seek to ​commercialise their technology beyond their home market amid intensifying competition and regulatory scrutiny.

The Economic Times · Aug 3

Trump says Gulf leaders' input weighed heavily in decision to hold off new Iran strikes

US President Trump opted against launching new strikes on Iran after receiving counsel from Gulf allies, advocating for diplomatic solutions instead. While plans for a significant operation were prepared for Sunday, Saudi Crown Prince Mohammed bin Salman cautioned against such action, emphasizing the pursuit of a diplomatic deal.

The Economic Times · Aug 3

Trump's closest Gulf allies are frustrated with his Iran war strategy: Report

Gulf nations are frustrated by the lack of a clear US strategy against Iran, fearing further strikes on their energy facilities. While the UAE favours military escalation, Saudi Arabia and Qatar are pushing for diplomatic solutions to secure a ceasefire and reopen the critical Strait of Hormuz, a key oil…

The Economic Times · Aug 3

'We'll see how it goes': Trump says Iran talks to begin Monday after halting planned strikes

US President Donald Trump announced negotiations with Iran would begin Monday. Diplomatic efforts involving Gulf nations prompted the halt of planned US military strikes. Mediators are working to revive an understanding regarding the Strait of Hormuz. Trump expressed hope for a negotiated settlement on denuclearisation and the waterway. Iranian officials,…

The Times of India · Aug 3

OPEC+ Agrees To Boost Oil Output. It May Not Reflect In Market Soon.

Export disruptions from the Gulf, Russia and Kazakhstan due to geopolitical conflicts meant that successive OPEC+ have remained largely on paper, causing little impact on the market. Major oil producers in the Gulf have not been able to increase exports due to the closure of Hormuz enforced by Iran.

International Business Times · Aug 2