Daily brief
Dubai's air travel and gold trade are experiencing significant disruptions, with the airport working to clear a backlog and shipments being sold at a discount. Authorities are investigating spikes in fruit and vegetable prices, while property developer Mohamed Alabbar says the real estate market remains strong.
Qatar's energy minister warned that a continuing war could force Gulf states to halt all energy exports within days, a scenario he said could push global oil prices to $150 per barrel.
Oil prices have surged to around $90 per barrel, reaching multi-year highs, driven by escalating Middle East tensions and supply concerns.
The United Arab Emirates is exploring options to freeze Iranian assets as a punitive measure following recent attacks.
Shipping in the Strait of Hormuz has nearly halted, according to a maritime center (ongoing coverage).