Bahrain and the United Arab Emirates have joined 20 other countries in expressing readiness to help secure shipping through the vital waterway, the Strait of Hormuz, the UAE's Foreign Ministry has said.
The Brent oil price could average $120/bbl in 2026 if the Strait of Hormuz remains effectively closed for six months, or $100/bbl if closed for three months, Fitch Ratings (Fitch) says in a new report. This compares to the 2026 average of $70/bbl in Fitch's base case.
The Ministry of Finance has revealed that the General Insurance Committee (CGA) had conducted on-site inspections to investigate why several insurance companies refuse to cover vehicles that are over 20 years old.
Preliminary data released by the Financial Services Authority (FSA) show a notable increase of 13.2% in the number of serious accidents in 2025, compared to 2024, reflecting a shift toward more serious incidents in the Sultanate.