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07.05.26 - 17:45
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Saudi Arabia Vs UAE (ZeroHedge)
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Saudi Arabia Vs UAE
By Benjamin Picton, Senior Market Strategist at Rabobank
The Little Red Hen
Markets are bulled-up this morning on prospects for peace in the Iran war. The S&P500 and NASDAQ closed at fresh all-time highs and Brent crude prices closed 7.8% lower at $101.27/bbl. While some analysts are understandably wary of another Axios report touting progress in Middle East relations (and therefore lower oil prices!), markets are clearly not in a mood to look a gift horse in the mouth.
Iranian foreign ministry spokesman Ismail Baghieri told news sources that Iran is reviewing a 14-point American memo that outlines terms for peace. Axios reports that those terms include Iran giving up the nuclear fuel that it has enriched to near-weapons-grade (though, there is no detail on who they would give it up to), an Iranian commitment to never seek a nuclear weapon, moratoriums on Iranian nuclear enrichment, Iranian agreement to enhanced UN-led nuclear inspections, and a framework to gradually resto...
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07.05.26 - 16:30
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UAE Slips Hidden Oil Tankers Through Straits Of Hormuz (ZeroHedge)
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UAE Slips Hidden Oil Tankers Through Straits Of Hormuz
While conventional wisdom, especially after Trump's counter-blockade of Iran's blockade, that the Strait of Hormuz is completely blocked, the reality is that the UAE is now running loaded crude tankers through the Iranian-controlled Strait of Hormuz with transponders switched off - just like sanctioned Iranian ghost fleets in the pre-war period - just to pry loose a fraction of the oil bottled up in the Gulf.
According to shipping data reported by Reuters, industry sources, and satellite tracking, Emirati state-owned energy giant ADNOC and willing Asian buyers have moved at least 6 million barrels of Upper Zakum and Das crude out of the Gulf in April alone via four tankers. While that's a drop in the bucket compared to pre-war exports, it proves participants are willing to roll the dice with Iranian drones and speedboats to unlock trapped supply.
At the same time, other Gulf heavyweights Iraq, Kuwait, and Qatar have largely thrown in th...
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07.05.26 - 14:15
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Austritt der Vereinigten Arabischen Emirate: Steht die OPEC vor der Auflösung? (HCOB)
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Die OPEC Plus hat bei ihrer letzten Entscheidung so getan, als ob der Austritt der VAE der Organisation nichts anhaben könne. Tatsächlich leitet der Schritt des drittgrößten OPEC-Landes möglicherweise den Übergang hin zu einer „Förder’ was das Zeug hält“-Politik ein, die letztlich zu einem Überangebot an Öl führen dürfte..
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07.05.26 - 07:24
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UAE′s ruling royal family benefits from more than €71m in EU farming subsidies (The Guardian)
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Al Nahyans' control over farmland in Europe has meant they receive proportion of payments to farmsThe United Arab Emirates' ruling royal family is benefiting from tens of millions in EU subsidies to grow crops destined for the Gulf, it can be revealed.A cross-border investigation by DeSmog and shared with the Guardian found subsidiaries controlled by the Al Nahyans collected more than €71m (£61m) in six years for farmland it controls in Romania, Italy and Spain. Continue reading......
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06.05.26 - 22:39
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′We Need People To Come Back′: Dubai′s Tourism Industry Reels As Foreigners Flee (ZeroHedge)
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'We Need People To Come Back': Dubai's Tourism Industry Reels As Foreigners Flee
Via Middle East Eye
Dubai is facing an existential crisis with the US and Israeli war on Iran forcing tourism numbers to fall sharply, with widespread hotel closures and job losses decimating the global tourism hotspots' hospitality sector.
On Monday, Dubai Airports reported that first-quarter passenger traffic was down by at least 2.5 million from the same period in 2025, with March seeing a 66 percent drop in passenger numbers as travelers chose to steer clear of the Gulf.
Empty beds are pictured before high-rise buildings along a beach at Jumeirah Beach Residence (JBR) in Dubai on March 11, 2026. via AFP
The company did not specify forecasts for this year but on Saturday, in a bid to kickstart tourism, the UAE announced that all air travel restrictions that were put in place after Iran launched retaliatory strikes on all six Gulf Cooperation Council (GCC) countries that house or cooperate closely...
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06.05.26 - 22:39
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World Starts To "Build" Around Hormuz; Japan Buying UAE Oil Bypassing Strait As ADNOC To Spend $55 Billion On Pipelines (ZeroHedge)
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World Starts To "Build" Around Hormuz; Japan Buying UAE Oil Bypassing Strait As ADNOC To Spend $55 Billion On Pipelines
Long after the Iran war is just a bookmark in the history books, one distinct consequence will persist: much of the world, at least the part that does not fall under the Chinese sphere of influence, will do everything it can to avoid the Strait of Hormuz and failing that, have a Plan B. Just like when the Biden admin weaponized the US Dollar in 2022 by booting Russia from SWIFT after the Ukraine war, and in the process started the biggest gold and bitcoin rally in history as the rest of the world parked its savings in non-USD assets, so the world's most important oil choke point will never again be viewed again in the same way after Iran launched dozens of rockets at the ships transiting it.
This shift in perception is what James Thorne, chief market strategist of WellingtonAltus, called "Iran's Historic Mistake"; he explains it as follows:
By weapon...
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06.05.26 - 21:42
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UAE AI Firm Anchors New Downtown Minneapolis Data Center (Bloomberg)
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A unit of G42, the Abu Dhabi tech conglomerate backed by Emirati royal Sheikh Tahnoon bin Zayed al Nahyan, has signed on as the primary tenant for an office-to-data center conversion in Minneapolis, part of its nascent push to compete for AI business in the US....
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