{"id":698927,"date":"2026-05-05T00:00:00","date_gmt":"2026-05-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=698927"},"modified":"2026-05-05T12:16:47","modified_gmt":"2026-05-05T12:16:47","slug":"oil-prices-retreat-from-spike-but-hold-above-usd-100-amid-hormuz-escalation","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/05\/oil-prices-retreat-from-spike-but-hold-above-usd-100-amid-hormuz-escalation\/","title":{"rendered":"Oil prices retreat from spike but hold above USD 100 amid Hormuz escalation"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, ladies and gents, and welcome back.<\/strong> We\u2019re just one day away from the long weekend, so hang in there. It\u2019s a quiet day at home, and in today\u2019s issue, we\u2019re taking a look at <strong>how Egyptians spend their time online<\/strong>. Also today: We try out <strong>a New Cairene deli that had us coming back for seconds<\/strong> (and thirds), break down all the Nile League action tonight, and more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But first, the news\u2026<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> \ud83c\udf10 <strong>Recent developments in the US-Iran war are still making headlines this afternoon.<\/strong> Following <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/05\/oil-ministry-quintuples-lng-allocations-to-heavy-industry\/\" style=\"\">Iran\u2019s attacks on the UAE<\/a> yesterday \u2014 its first since the ceasefire four weeks ago \u2014 and the reported sinking of six Iranian boats in the Strait of Hormuz, Iran has accused the US of threatening maritime security. This comes after both sides traded fire and Trump warned Iranian forces that they would be \u201cblown off the face of the Earth\u201d if they target US ships.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>After spiking last night, oil prices have edged lower <\/strong>\u2014 but remain well above the USD 100 mark \u2014 as tension in the strait strains the ceasefire. At the time of publication, Brent Crude stands at USD 113 \/ bbl and WTI at USD 104 \/ bbl.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ Read more on: <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2026\/05\/05\/world\/live-news\/iran-war-news\" style=\"\">CNN<\/a>, <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/c1wz2ld4535t\" style=\"\">BBC<\/a>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-04\/latest-oil-market-news-and-analysis-for-may-5\" style=\"\">Bloomberg<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/05\/05\/us-iran-attacks-markets-peace-deal-talks.html\" style=\"\">CNBC<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/sub.ent.news\/menaplus\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1627.gif?ssl=1\"\/><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh to Mumbai. Abu Dhabi to Singapore. Dubai to London. Cairo to Shenzhen.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most important business stories in MENA aren\u2019t happening inside MENA anymore<\/strong> \u2014 they\u2019re happening at the edges, where regional capital meets global ambition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM MENA+ is our new flagship newsletter<\/strong>, built to cover the flows of capital, people, and ideas across the Middle East \u2014 and beyond it. AI, geopolitics, the war for talent, sovereign wealth strategy, the changing energy economy, and the new corridors reshaping global trade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/menaplus\/\" style=\"\">Tap or click here to get your own copy<\/a><\/strong> delivered to your inbox every Monday, Wednesday, and Friday at 12pm UAE | 11am KSA | 11am Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Doha-based Green Sky Capital secured financing from a banking syndicate for its USD 200 mn sustainable aviation fuel facility in Ain Sokhna.<\/strong> <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/05\/qatars-green-sky-capital-secures-financing-for-usd-200-mn-saf-plant\/\" style=\"\">The project<\/a> \u2014 named SAFFly Egypt \u2014 is backed by Qatar\u2019s Al Mana Holding and Saudi Vision Invest;<\/li>\n<li><strong>The Finance Ministry is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/05\/finmin-targets-egp-tns-in-new-debt-as-it-revises-financing-gap-to-egp-4-tn\/\" style=\"\">set to deploy<\/a><\/strong><strong> EGP 3.4 tn in new sovereign debt in FY 2026\/27<\/strong> \u2014 a EGP 241 bn increase \u2014 to cover an expected EGP 4 tn financing gap, after hopes of shrinking our financing gap to EGP 2.7 tn fell through due to regional volatility;<\/li>\n<li><strong>The Madbouly government <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/05\/govt-settles-90-of-its-arrears-to-pharma-companies\/\" style=\"\">has settled<\/a><\/strong><strong> 90% of its arrears to pharma companies<\/strong>, with the remaining dues to be cleared by the end of FY 2026\/27. The settlement is already boosting liquidity across the sector, allowing manufacturers to rebuild their strategic stockpiles.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Temperatures in Cairo are set to gradually climb tomorrow, with highs reaching 26\u00b0C and a low of 14\u00b0C, according to our weather app.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, ladies and gents, and welcome back. We\u2019re just one day away from the long weekend, so hang in there. It\u2019s a quiet day at home, and in today\u2019s issue, we\u2019re taking a look at how Egyptians spend their time online. Also today: We try out a New Cairene deli that had us coming [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":698928,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[633,716,117,7263,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-698927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-iran","tag-us","tag-war","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"9929128f-8f7b-489d-a36f-d54e45e6e338","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2026\/5\/252.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Oil prices retreat from spike but hold above USD 100 amid Hormuz escalation","related_issue":[698925],"teaser":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Oil prices retreat from spike but hold above USD 100 amid Hormuz escalation - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/05\/oil-prices-retreat-from-spike-but-hold-above-usd-100-amid-hormuz-escalation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil prices retreat from spike but hold above USD 100 amid Hormuz escalation\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, ladies and gents, and welcome back. We\u2019re just one day away from the long weekend, so hang in there. It\u2019s a quiet day at home, and in today\u2019s issue, we\u2019re taking a look at how Egyptians spend their time online. 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We\u2019re just one day away from the long weekend, so hang in there. It\u2019s a quiet day at home, and in today\u2019s issue, we\u2019re taking a look at how Egyptians spend their time online. 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It\u2019s a breezy day in C-town, and we\u2019ve got a brisk issue to match. In today\u2019s edition, we\u2019re taking a look at the Egyptian designers who showcased their work at Milan Design Week, check out Prime Video\u2019s latest hit starring Riz Ahmed,\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/181.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":694814,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/19\/iran-warns-of-no-compromise-in-us-ceasefire-talks-as-hormuz-standoff-deepens\/","url_meta":{"origin":698927,"position":1},"title":"Iran warns of no compromise in US ceasefire talks as Hormuz standoff deepens","author":"enterpriseam admin","date":"19 April 2026","format":false,"excerpt":"\ud83d\udc4b Good afternoon, folks, and welcome to the start of a new \u2014 and this time, full \u2014 workweek. We\u2019ve got a somewhat packed issue for you this afternoon, but one we hope will fly by. We take a look at how regional tensions are impacting Egypt\u2019s fertilizer sector, tune\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/3\/660.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":613700,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/this-evening-its-a-slow-news-day-in-cairo-as-regional-events-dominate-our-newsfeed\/","url_meta":{"origin":698927,"position":2},"title":"THIS EVENING: It\u2019s a slow news day in Cairo as regional events dominate our newsfeed","author":"enterpriseam admin","date":"18 January 2024","format":false,"excerpt":"Good afternoon friends, and happy Thursday. It is a slow news day in Om El Donia as the first full business week begins to wind down.We have no local Big Story \u2014 but the regional events have begun to dominate our news cycle.THE BIG STORY ABROADTension between Pakistan and Iran\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1574.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":667063,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/18\/israel-could-resume-natgas-exports-as-soon-as-tomorrow\/","url_meta":{"origin":698927,"position":3},"title":"Israel could resume natgas exports as soon as tomorrow","author":"enterpriseam admin","date":"18 June 2025","format":false,"excerpt":"Good afternoon, all. We\u2019re racing towards the final stretch of the week and into the weekend.THE BIG STORY TODAY- Israel may restart natural gas supplies to Egypt as early as Thursday, but domestic demand will continue to take priority over exports, Bloomberg reports, citing Israeli Energy Minister Eli Cohen.BACKGROUND- Over\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/978.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":697021,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/28\/us-iran-deadlock-continues-as-bp-gains-double-on-energy-surge\/","url_meta":{"origin":698927,"position":4},"title":"US-Iran deadlock continues as BP gains double on energy surge","author":"enterpriseam admin","date":"28 April 2026","format":false,"excerpt":"Good afternoon, friends, and happy hump day. It\u2019s another quiet day at home, with more of the same headlines making the rounds abroad. Thinking of ordering in this afternoon? We\u2019ve got you covered with one of our newest obsessions: Kak Squad. While you wait for your meal, we\u2019ll also be\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1453.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":697274,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/29\/trump-urges-iran-to-get-smart-soon\/","url_meta":{"origin":698927,"position":5},"title":"Trump urges Iran to \u201cget smart soon\u201d","author":"enterpriseam admin","date":"29 April 2026","format":false,"excerpt":"Good afternoon, ladies and gents, and happy almost weekend. It\u2019s another quiet day on the homefront as we near the week\u2019s finish line. In today\u2019s issue, we\u2019re taking a close look at how AI is changing education and how Egyptian educators are responding. Looking for an emotional, introspective read? 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