Gulf States

The market appears to doubt that the deal will suffice, and royal family dynamics could push the oil crisis into further rounds.

Reflecting just how emboldened the Houthis have become, their latest ceasefire document advocates maximalist positions on core issues while demanding that other actors foot the bill for reconstruction, reparations, economic recovery, and virus containment.

Both governments have gone “crazy” in the fast-moving price war, but the White House is apparently divided on who to blame and how much to get involved.

Viewing regional issues through this broader strategic lens will require Washington to accept painful trade-offs and take a tougher stance with difficult allies.

Total U.S. production from all sources will remain the world’s largest no matter how low prices go, leaving Washington (and Texas) with considerable room to help domestic companies and press Riyadh and Moscow on stabilizing prices.

The latest crackdown appears to have targeted senior defense and interior officials, spurring speculation that they are linked to previously detained princes rumored to be plotting a coup.

Reports of royal arrests, a possible coup plot, and a brewing oil price war suggest that the kingdom is facing another period of considerable political tension.

U.S. officials have ample grounds to reinvigorate diplomatic pressure after the world’s nuclear watchdog accused Iran of being uncooperative, but they need to focus on the right questions.

If outbreaks like the coronavirus shift from ‘black swan’ events to regular occurrences, globalization trends in the region may reverse, with sobering consequences.