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Letter from London: The oil market should panic tomorrow
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
The diesel crisis
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
Middle East oil vulnerabilities have been exposed
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
How Hormuz chokehold threatens LNG buyers
A potential blockade of the Strait of Hormuz following the escalating US-Iran conflict risks disrupting Qatari LNG exports that underpin global gas markets, exposing Asia and other markets to sharp price spikes, cargo shortages and renewed reliance on dirtier fuels
Letter from the Middle East: Aramco provides big global gas reveal
The Saudi energy leader’s announcement of first production at Jafurah and the launch of operations at the Tanajib Gas Plant marks a turning point not just for the company, but for the world’s energy landscape
Letter from Iran: Testing times for Tehran-Beijing crude dynamics
Growing pressure from the Trump administration continues to threaten a resilient China-Iran oil nexus
Letter from Saudi Arabia: Big oil meets big shovel
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
Explainer: Iran’s indispensable energy role
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
Kurdistan starts to deliver on oil promise
Gulf Keystone looks to a ‘transformational’ 2026, with the oil producer upbeat for the region should all the vested interests keep their eyes on the prize
Outlook 2026: Revitalising Syria’s oil and gas sector – A new chapter
The new government has brought stability and security to the country, with the door now open to international investment
Syria Yemen Saudi Arabia Iran Iraq Israel Egypt
Ian Black
28 January 2019
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Middle East flashpoints on the horizon

Opportunities for resolving some conflicts in 2019 look more positive than before, but the region's fundamental crises remain entrenched

Anyone looking out for events and trends that will matter in the Middle East in 2019 should stay focused on the murder of the Washington Post columnist Jamal Khashoggi in Saudi Arabia's consulate in Istanbul. The repercussions of that shocking episode are set to continue with the potential to undermine Crown Prince Mohammed bin Salman and his ambitious economic and social reforms–perhaps along with the kingdom's place in the strategic calculations of the US in the disruptive days of President Donald Trump. The stakes are high. The crown prince is aiming to wean Saudis off their long dependence on oil and needs to maintain domestic support and attract foreign investment to diversify the econo

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Letter from London: The oil market should panic tomorrow
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Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
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