Business & Economy Bound

Egypt has imposed a nationwide 9 p.m. curfew on shops, restaurants, and entertainment venues to reduce electricity consumption amid rising energy costs and supply disruptions linked to the war in Iran.

Oil prices surged toward $119 per barrel as the conflict involving Iran disrupted tanker traffic through the Persian Gulf, forcing several Gulf producers to reduce output and pushing governments to consider emergency energy measures. Saudi Arabia joined Iraq, Kuwait, Qatar, and the UAE in cutting production as shipments stalled and storage capacity tightened. With hundreds of tankers idling near the Strait of Hormuz and major shipping insurers suspending coverage, the crisis is rapidly evolving from a regional military conflict into a global energy shock.

Energy markets often react before the rest of the economy when geopolitical crises erupt. Oil has surged toward $90 per barrel as traders price the risk of disruption around the Strait of Hormuz, while European natural gas remains relatively calm but structurally exposed through LNG shipping routes. Together, the charts suggest markets are pricing risk, not yet a supply shock, as the conflict involving Iran enters its early phase.

Trade between Turkey and Morocco has accelerated sharply, surpassing $5 billion in recent exchanges and strengthening Ankara’s position in the Moroccan market. While the expansion reflects deeper economic integration, Moroccan policymakers are seeking investment-based solutions to address a widening trade imbalance and position the country as a regional production hub ahead of the 2030 World Cup.