Day: March 22, 2026

As tensions escalate across the Middle East and the Strait of Hormuz faces effective closure following US and Israeli strikes on Iran, Saudi Arabia has activated a long-standing contingency plan to keep its oil flowing—deploying a decades-old pipeline that is now emerging as a critical lifeline for global energy markets,…

Minister of Finance Ahmed Kouchouk stressed that the current priority is to secure sufficient and sustainable financial resources to meet citizens’ basic needs. He noted the ongoing coordination with all state entities to guarantee the availability of food commodities in the markets and secure energy sources. Kouchouk stated, during his…

International energy consultant Mamdouh Salameh warned that the ongoing closure of the Strait of Hormuz—even for a brief period—will trigger a massive surge in oil prices, predicting that Brent crude could exceed $120 per barrel within days. Speaking to Al Qahera News, Salameh explained that a six-month blockade could drive…