Positioned between the Strait of Hormuz and the Suez Canal, Egypt is not only absorbing the impact of war—it is transmitting it into the global economy.
The north African nation wonders if it might step in, as war in the Middle East halts shipments of liquefied natural gas and leaves importing nations looking for alternatives.
Even if it stays on the sidelines of the US-Iran war, the country is fragile. Unlike larger economies that can absorb shocks in global markets, it has little room to cushion the impact.
Gulf states' central global location has made it the perfect transit hub for global travel, but with flights cancelled due to war, the industry is scrambling to fill the void
European gas prices have jumped by 30% after some big GCC oil and gas producers cut supplies, and now a vital maritime trade route is being threatened. The stakes have seldom been higher.
A drop in the price of crude these days is nowhere near as painful as it used to be, because most of the Gulf Cooperation Council states have diversified away from hydrocarbons