Weak US economic data sends black gold prices plunging

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Oil prices fell nearly 2% to a one-week low on Thursday as a political standoff over the U.S. debt ceiling added to recession fears in the world’s biggest oil consumer.

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Arab Desk

The Arab Desk leads The Eastern Herald's reporting on the Middle East and North Africa. The desk has covered the Gaza-Israel war since October 2023, the Iran-Israel war of 2025-2026, the fall of the Assad government in Syria, Hezbollah's political and military shifts in Lebanon, the war in Yemen, and the diplomatic realignment of the Gulf states under the Abraham Accords and the Saudi-Iranian rapprochement.

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