Stock markets in the oil-rich Gulf states plunged Sunday over fears about the impact of the coronavirus which also battered global bourses last week. The crisis threatens to undercut Gulf economies, which are already battling a downturn and struggling to wean themselves from their decades-old addiction to energy revenues.

Gulf bourses dive as coronavirus hits oil price

Iran's Revolutionary Guards have seized a vessel in the Gulf for allegedly smuggling 250,000 litres of diesel fuel to the United Arab Emirates, Iran's semi-official Students News agency ISNA reported on Monday.

Iran seizes vessel in Gulf for allegedly smuggling diesel fuel: State media

Two Iranian companies signed a $440 million agreement Saturday to develop a gas field in the sensitive Gulf, with the oil ministry saying it showed arch-foe the United States could not stop the country with sanctions.

Iranian companies ink deal to develop gas field in tense Gulf

UK calls seizure of ship a 'hostile act'; Iran releases video of capture Britain denounced the Iranian seizure of a British-flagged oil tanker in the Gulf as a "hostile act" on Saturday, rejecting Tehran's explanation that it had seized the vessel because it had been involved in an accident.

News brief: Big stories of the day

Iran's envoy to Britain on Sunday urged the UK to contain "domestic political forces" which he said wanted to escalate tension between the two countries amid the capture of a British-flagged tanker in the Gulf by Iran.

Iran says it is ready for any scenario, warns of escalating UK tension

Tensions in the Gulf region mounted Thursday as US President Donald Trump said an American naval vessel shot down an Iranian drone that threatened the ship as it was entering the Strait of Hormuz.

US Navy destroyed Iranian drone in Strait of Hormuz, says Donald Trump

Britain urged Iran on Wednesday to ease tensions in the Gulf, while pledging to defend its shipping interests in the region. Defence Secretary Penny Mordaunt, asked about a decision to send a third warship to the Gulf, said Britain had always been concerned about defending its interests in the Gulf and elsewhere.

British defence minister urges Iran to de-escalate Gulf tensions

Russia on Tuesday urged the United States and Iran to show restraint as it warned against the additional troop approval in the Middle East by the US. Speaking to local media, President Vladimir Putin's spokesman Dmitry Peskov said, "We are urging all the sides to show restraint", adding, "We would prefer not to see any steps that could introduce additional tensions in the already unstable region.

Russia warns US over extra troop deployment to Middle East

Amid rising tension between the US and Iran over recent attacks on civilian oil tankers in the Middle East, US Secretary of State Mike Pompeo said the United States is considering a 'full range of options' — including a military strike.

US weighing 'full range' of options to counter Iran, including a military strike: Mike Pompeo on Iran

US Secretary of State Mike Pompeo blamed Iran on Sunday for last week's attacks on oil tankers and vowed that the United States will guarantee free passage through the vital Strait of Hormuz.

Will make sure to guarantee freedom of navigation in Strait of Hormuz: Pompeo

Qatar Emir Sheikh Tamim bin Hamad Al-Thani will meet with President Donald Trump next month as the country continues to endure the two-year economic squeeze from its US-backed Gulf Arab rivals, the White House announced Friday.

Qatar emir to visit White House amid Gulf tensions

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