North Africa

The major Gulf stock exchanges were mixed early on Monday as investors remained largely on their sidelines due to uncertainty surrounding U.S. - Iran?talks, but the 'announcement' of a national fund in the uae boosted the shares. The weekend saw hopes for renewed diplomacy dim after U.S. president Donald Trump cancelled his planned visit to Islamabad by his envoys on Saturday. Trump said Iran was welcome to contact him if they wanted to?negotiate an end of the two-month conflict, but insisted that Tehran'must never obtain a nuclear weapon. Iran said that the U.S. had to lift 'barriers' to any deal...

Gulf equities fell in?early trading on Monday on fears that the ceasefire?between Washington, D.C., and Tehran, could unravel, after the U.S. seized?an Iranian freight vessel. Meanwhile,?traffic along the?Strait of?Hormuz remained largely halted. The hope for a lasting peace in the Middle East dimmed when Iranian state media reported Tehran's rejection of new talks. It also said that Tehran would not participate in a second round if negotiations, which the U.S. hoped to convene before Tuesday's ceasefire expired. The war, now in its eighth year, has triggered an historic shock for global energy supply, sending oil costs soaring, as the Strait...

The Gulf stock markets rose on Wednesday, in line with global equities, after U.S. president Donald Trump announced on Tuesday a?ceasefire? with Iran for two weeks. In Asia, the Nikkei gained about 5.4%, while South Korea's KOSPI gained about 6.8%. This triggered a brief halt in trading. MSCI's broadest?index of?Asia-Pacific stocks outside Japan rose 1%. Trump said that the deal at the last minute was contingent on Iran agreeing to stop its blockade of oil, gas and natural gas through the Strait of Hormuz. This area handled before the war about one-fifth of all global oil and LNG shipments. Abbas...

Tanger Med in Morocco, Africa's biggest container port, is planning to increase calls from ships due to escalating tensions around the Middle East, said the port's managing director on Monday. Container carriers such as Hapag-Lloyd, Maersk and CMA CGM have announced this month that they will reroute vessels around Cape of Good Hope. Idriss Aarabi, the managing director of Tanger Med told me by email that rerouting would increase transit time from 10 to 14 extra days for vessels diverted via Cape of Good Hope in order to reach Tanger Med. Aarabi stated that the port of Tanger Med in...

LSEG's ship monitoring data on Friday showed that a tanker?carrying about?200,000 barrels originally bound for Cuba, has arrived in Venezuelan water. After being stuck in the Atlantic Ocean, the Hong Kong-flagged ship Sea Horse rerouted to Venezuela earlier this month after spending weeks there. This is a major blow for an oil-hungry?island which has experienced several blackouts during this month. The Sea Horse's stranding at sea and its sudden change of course to Venezuela were not clear. Cuban government oil imports are being blocked by the administration of U.S. president Donald Trump, who is increasingly restricting fuel supplies for Cuba's...

Investors remained cautious about inflation and growth risk stemming from the U.S./Israeli war on?Iran. According to the Pentagon and Iranian sources, the U.S. launched the most intense airstrikes in the war. Global markets were still betting that Donald Trump would try to end the conflict soon. The Strait of Hormuz has been effectively closed by the war. It is a major route used for approximately one-fifth of all global oil and gas shipments. Producers have had to stop production as their storage tanks fill up, and energy prices are now higher. Dubai's main stock index fell 2.4%. Blue-chip developer Emaar...

Oil prices rose more than 15% on fears of long-term Strait of 'Hormuz shipping interruptions and supply cuts, while most Gulf markets fell in early trading Monday. Donald Trump, the U.S. president, said on Saturday that he is not interested in negotiations and that the war will end when Iran's military or government cease to function. Iran's decision to name Mojtaba Khamenei supreme leader, to succeed his father Ali Khamenei on Monday, further dampens hopes for peace. Brent crude rose $14.73 or 15.8% to $107.39 per barrel around 0800 GMT, on course for its largest-ever single-day jump. The energy markets...

The U.S. Department of Justice's documents reveal that embattled financier Jeffrey Epstein attempted to create a powerful network of political figures and regional business leaders. DP World announced that Sultan Ahmed Bin Sulayem resigned from his position as chairman and chief executive. Two sources who have direct knowledge of the situation said that the decision was made after Bin Sulayem’s name appeared on the Epstein files and his relationship with the deceased convicted sex offender came under increased scrutiny. Bin Sulayem and Epstein exchanged emails in which they discussed sexual relationships between Bin Sulayem and women Epstein had helped him...

The U.S. Department of Justice's documents reveal that embattled financier Jeffrey Epstein attempted to create a network of powerful political figures and businessmen in the Middle East. DP World announced that Sultan Ahmed Bin Sulayem resigned from his position as chairman and chief executive. Two sources who have direct knowledge of the matter said that the decision was made after Bin Sulayem’s name appeared on the Epstein files and his relationship with a late convicted sex offender came under increased scrutiny. Bin Sulayem and Epstein exchanged emails in which they discussed sexual relationships between Bin Sulayem and women Epstein had...

Qatar's stock index rose after announcing a positive year-end earnings report. Oil prices, a major factor in the Gulf's financial market, fell as traders assessed the possibility of supply disruptions following U.S. guidelines for vessels transiting Strait of Hormuz. Iran, along with fellow OPEC member?Saudi Arabia and the United Arab Emirates as well as Kuwait, Iraq, and Kuwait export the majority of their crude oil via the Strait to Asia. Saudi Arabia's benchmark stock index fell 0.1% due to a 0.8% drop in the?Al Rajhi Bank. Two people with knowledge of the situation said that the $925 billion Public Investment...

Mohd Edrees The stock markets of the United Arab Emirates ended slightly higher on February 6, as investors awaited the latest news from Iran, and the high-stakes talks between the United States and Iran regarding Tehran's nuclear program. Dubai's main market has now gained for the fifth consecutive session, with a 0.2% increase to its highest level in early 2006. Oman, as the mediator between Iran and America, began negotiations on Friday. Both sides have shown willingness to negotiate. revive diplomacy Washington wants to extend the talks with Iran to cover its?nuclear dispute?with the West. Ballistic missiles U.S. Secretary Of...

Due to a limited global supply of liquefied petroleum gas, Saudi Arabia's Aramco and Algeria's Sonatrach raised their official'selling prices' for the product in February between 1% and 5,3%. Saudi Aramco’s February OSP?increased $20 per metric ton, to $545?per ton For propane, the price has increased by $20 per ton. Butane LPG comes in two types: butane and propane. They have different boiling points. LPG is used primarily as a fuel for cars and heating, as well as a feedstock to make other petrochemicals. Sonatrach has increased its February OSP for propane from $500 to $25 per ton. For?butane, the...

The head of Morocco's hydrocarbons & mining agency (ONHYM), said that an intergovernmental agreement on a $25 billion Nigeria-Morocco pipeline would be signed in this year. Amina Benjamin, an ONHYM representative, told me by email that the project, known as the "African Atlantic Gas Pipeline", was agreed upon a decade earlier. It would run 6,900 km along a hybrid route, offshore and onshore, with a capacity of up to 30 billion cubic meters (bcm). This included 15 bcm for Morocco, to support exports to Europe. The feasibility study of the pipeline has been completed, as has the front-end engineering design...

Energy Minister Alparslan bayraktar stated on Wednesday that despite the Iran conflict, Turkey's dependence on Middle East crude oil is at a "manageable and minimal" 10% of total supplies. On a programme of the state-run Anadolu Agency, he stated that the war caused a "crisis in global energy security". He added that Turkey, as a "large energy importer" and a neighbor to Iran, has taken steps to diversify its energy supply. Bayraktar said that a $1 rise in the price per barrel of oil cost Turkey $400 million. When asked about the natural gas supply, Bayraktar replied that there have...

Libyan security authorities recovered two exploded munitions from a damaged crude oil pipeline at the Sharara oilfield on Tuesday, according to a Tripoli-based interior ministry. In a'statement,' the ministry stated that two exploded projectiles were an M-62 - a russian missile weighing about 250 kg - and fragments of a rocket 130 mm. After a fire broke at the pipeline last week, the National Oil Corporation, the state-owned oil company, redirected flow from the Sharara Oilfield via the El Feel Pipeline?to Mellitah Port and through the Hamada Pipeline to storage tanks in Zawiya. The ministry posted pictures on its verified...

Two El Feel engineers reported that the El Feel oilfield in Libya has been closed since Thursday because National Oil Corporation, the state-owned oil company, used its 'pipeline' to transport crude from Sharara after its pipeline had been damaged by fire. The engineers said that the flow of Sharara oil was redirected through the El Feel pipeline and the Hamada pipe to the storage tanks at Zawiya. An engineer at the Sharara oilfield said that Sharara's alternative pipelines can pump between 80,000 and 100,000 barrels of oil per day. El Feel is operated by Mellitah Oil and Gas. This joint...

The Moroccan energy ministry announced on Monday that it had suspended a tender launched last month to build a gas pipeline, but did not provide any details as to the reasons. The tender was for the construction of a pipeline connecting a future terminal at the Nador West Med Port on the Mediterranean?to an existing pipe that allows Morocco to import?LNG via Spanish terminals?and supply two power plants? The section would also connect the existing pipe to industrial zones on the Atlantic, in Mohammedia and Kenitra. The ministry issued a statement saying that "due to new parameters and assumptions relating...

Gridworks, an?investor owned by the British government in Africa's electric networks, signed agreements on Monday to 'develop and invest' in transmission projects valued at around $400 million, during a visit by Britain's Foreign Minister. Yvette's Cooper's visit to Ethiopia is part of the UK government's efforts to create jobs in order to curb the rising number of migrants seeking to enter the United Kingdom from the Horn of Africa. These two projects are the first public/private partnerships in Ethiopia’s transmission network. Prime Minister Abiy Ahmad's government is slowly opening up Ethiopia’s state-dominated economy for more private investment. One project 'connects...

The central bank reported that Egypt's deficit on its current account decreased to $3.2 billion between July and September 2025. This is compared to $5.9 billion for the same period one year ago. The 'bank attributed this to an increase in remittances by Egyptians who work abroad, which reached $10.8 Billion in the first quarter, up from $8.3 Billion a year earlier. The Suez Canal's revenues also increased to $1.05billion from July to September of 2025, up from $931.2mil the previous year. Revenues from the canal were hit by attacks?by Yemeni Houthis, who are aligned with Iran, against shipping routes...

Market sources reported that the differential between Urals crude and CPC Blend remained unchanged on Monday. However, export volumes of CPC Blend remained uncertain due to?repairs continuing on single-point mooring units (SPMs)?at CPC Terminal. CPC is loading oil into SPM-1. SPM-2 has been taken out of service due to a drone attack by Ukraine, and SPM-3 undergoes scheduled maintenance. Oil prices rose on Monday, after the U.S. Coast Guard attempted to intercept an oil-tanker in international waters near Venezuela, a day earlier. Ukraine also damaged two vessels in Russia and their piers, increasing the risk of disruptions in oil supplies....

Egypt's Cabinet announced on Sunday that it had signed a deal with Qatar's Al Mana Holding to invest $200 million in the first phase of a project to produce sustainable aviation fuel from used cooking oils at Ain Sokhna's Economic Zone along the Suez Canal. The project, which will span 100,000 sqm in the Integrated Sokhna Zone along Egypt's Red Sea coast, will be developed over three phases. In a press release, the cabinet stated that the first phase would have an annual production capacity of approximately 200,000 tons. Egypt claimed that the deal marks the first Qatari investment in...

Industry sources reported on Thursday that premiums for Azeri BTC crude oil compared to Brent dated fell by 12% between November and October. According to the schedule, Azeri BTC crude exports to Turkey from Ceyhan have been set to 16.2 million barrels, down from 17.0 in December. The traders stated that the lower supply of grade "supported" the differentials. CPC, which is responsible for around 80% of Kazakhstan’s oil exports, suffered a drone attack on November 29th, causing severe damage to one of its three main exporting units. Sources said that exports fell last month from 1.52 million barrels a...

South Sudan's military chief said that troops were sent to the neighbouring Sudan on Thursday to guard the Heglig oilfield near the border. This was after the paramilitary Rapid Support Forces took control of the field. Heglig is home to the largest processing facility for South Sudanese crude oil, which accounts for the majority of South Sudanese public revenues. Heglig continues to receive some oil, but at a much reduced volume. Sources in the government said that the Sudanese forces and workers at the Heglig Oil Field withdrew on Sunday from the area to avoid fighting which could have damaged...

In an opaque market, the differentials between urals crude and other grades remained stable on Monday as participants assessed the impact of sanctions placed on Lukoil last month and Rosneft the previous month on the supply of this grade to India and Turkey. Sources in the trade said that two Indian state refiners bought 5 million barrels from spot markets as they continued to search for alternatives to Russian oil supplies. Sources said that Lukoil declared force majore at its Iraqi field of oil, while Bulgaria was preparing to seize the Burgas refinery as its international operations buckled due to...