Cherbourg, France: While Britain's exit is expected to have an limited overall impact on the EU, offshore fishermen based in northern France face the grim prospect of losing access to their best waters.
If the yet to be negotiated Brexit terms mean French fishermen must stay out of British waters "one might as well sell the ship", said Xavier Perrotte, the second in command of the Remember, a 23-metre (75-foot) trawler.
The Remember with its eight-man crew sails the roughly 100 kilometers (60 miles) from its home port of Cherbourg in Normandy to waters off the English coast where it pulls in half of its catch.
France's national fishermen's association has already warned the government that Brexit could "very strongly impact" the Brittany, Normandy and northern regions.
Not all fishermen will be impacted, however.
Ships less than 12 meters rarely leave French territorial waters, except in the narrowest parts of the Channel, and they make up 80 percent of the national fleet according to official data.
But according to catch, the big boats play a big role.
At Cherbourg, big trawlers account for two-thirds of the fish landed.
Worries are acute in ports where large trawlers dock, particularly in Boulogne-sur-mer, France's top fishing port that hosts ships as long as 50 meters.
"If tomorrow we lose our historical access to British waters, that will sound the end of French fishing in Boulogne — the impact will be enormous," said Bruno Margolle, head of the CME regional fishing cooperative.
In the neighboring Calais region where the Channel narrows to as close as 28 kilometers, they are "very worried", said Olivier Lepretre, president of the local fishing council.
"If the British close their waters, we will lose important fishing grounds that account for 70 percent of our catch," he said.
Even where the Channel is wider, French trawlers could lose a lot: Currently they can sail as close as six nautical miles (11 kilometers) to the British coast, while British ships can't fish closer than 22 kilometers to the French coast.
Sebastien Sagot, owner of a 24-meter trawler based at Treport, worries about a "big drop in revenues" if he can no longer fish in British waters.
Fishing further out in the North Sea would cost more in fuel and often requires different equipment, some of which is not authorized in French waters.
"There is no fallback solution," said Jean-Pierre Le Visage, director of Scapeche, operator of France's largest commercial fishing fleet.
"It is too early to say if the consequences will be horrendous" but "if British waters are closed then we will lose 70 to 80 percent of our volumes" he said.
Le Visage said that at the Brittany port of Lorient, its main base, some 9,500 out of the 11,000 tons of fish it landed there were caught in British waters.
Across the region, fishermen hope the negotiations on Britain's EU exit result in a reasonable deal.
Those hopes are largely based on the need of Britain to sell its catch in European markets.
"There are products that the British fish but don't eat, and the base tariff to get into the European market is 24 percent," said Richard Brouzes, who heads up the fishermen association in Normandy.
"The idea is to say to them: 'You get access to our markets, we get access to your waters'".
French fishermen may get caught in Brexit net
French fishermen may get caught in Brexit net
Gulf oil exports could stop within weeks, warns Qatar energy minister as Iran war continues
RIYADH: Gulf oil producers could halt exports within weeks due to the ongoing Middle East war, sending crude prices to $150 a barrel, according to Qatar’s energy minister.
In an interview published on Friday, Saad Al-Kaabi warned oil could hit the figure in two to three weeks if ships and tankers were unable to pass through the Strait of Hormuz, which is the world's most vital oil export route as it connects the biggest Gulf oil producers with the Gulf of Oman and the Arabian Sea.
Hostilities between US-Israeli forces and Iran, which began with strikes on Iran on Feb. 28, has continued to cause widespread disruption across the region, and led to the virtual closure of the Strait of Hormuz and the shutdown of multiple national airspaces.
Speaking to the Financial Times, Al-Kaabi said that “everybody that has not called for force majeure we expect will do so in the next few days that this continues. All exporters in the Gulf region will have to call force majeure.”
As well as the $150-a-barrel oil price warning, the minister also expects gas prices to rise to $40 per million British thermal units.
He added that if the war continues for a few weeks, “GDP growth around the world” will be impacted.
“Everybody's energy price is going to go higher. There will be shortages of some products and there will be a chain reaction of factories that cannot supply,” Kaabi said.
Qatar halted its liquefied natural gas production on March 2, as Iranian retaliation for US and Israeli strikes continued to target Gulf countries. The halt takes a major facility offline that accounts for roughly 20 percent of global supply, a key resource that balances demand in both Asian and European markets.
Al-Kaabi said even if the war ended immediately it would take Qatar “weeks to months” to return to a normal cycle of deliveries.
Oil continues to rise
Oil prices rose again on Friday, with Brent crude up 2.77 percent to $87.78 a barrel and West Texas Intermediate up 4.41 percent to $84.36 at 11:47 a.m. GMT
The price surge followed the start of the war on Feb. 28, which halted tanker movements through the Strait of Hormuz, a waterway that typically carries approximately one-fifth of the world’s daily oil supply, or about 20 million barrels per day.
The conflict has since spread across the key Middle East energy-producing region, causing disruptions to oil output and the shutdown of refineries and liquefied natural gas plants.
The US Treasury Department indicated it would announce measures to combat rising energy prices from the Iran conflict, including potential action involving the oil futures market, a move that would mark an unusual attempt by Washington to influence energy prices through financial markets rather than physical oil supplies.
The Treasury also granted waivers for companies to start buying sanctioned Russian oil stored on tankers to ease supply constraints that have pushed Asian refineries to reduce fuel processing.
“To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil. This deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil already stranded at sea,” Treasury Secretary Scott Bessent said on X.
He emphasized that India is an “essential partner” and expressed anticipation that New Delhi will ramp up purchases of US oil. “This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage.”
Imad Salamey, professor of political science and international affairs at the Lebanese American University, told Arab News that such measures “may work as short-term shock absorbers by calming markets and preventing immediate price spikes.”
However, he warned that financial engineering cannot permanently compensate for disrupted physical supply.
“If the Strait of Hormuz remains impaired, markets will eventually adjust to the reality of reduced flows. Relying too heavily on financial tools risks creating distortions where prices no longer reflect actual supply conditions,” Salamey explained.
If the war drags on and global economic costs continue to rise daily, Salamey added, the impact will spread far beyond the region. “Substituting Gulf oil with supplies from Russia or Venezuela could severely damage Gulf economies and shift long-term market dynamics,” he warned.
In an interview with Arab News, economist and Lebanese University professor Jassem Ajaka noted that “US President Donald Trump would not allow an internal uprising to undermine him before the midterm elections, suggesting he would make strategic reserves available if needed.”
He added that the US also has the capacity to ramp up shale oil production, as higher prices make extraction more economically viable. Trump said on March 4 that the US Navy may escort tankers through the Strait of Hormuz.
Aramco pricing reflects return of geopolitical risk premium
Saudi Aramco’s crude oil differentials for April 2026, reflect the severe fragmentation of the regional energy market. The OSPs showed significant premiums for light crude grades across North America, Northwest Europe, Asia, and the Mediterranean.
In the Asian market versus Oman/Dubai, Super Light crude commanded a premium of $4.15 in April, up from $2.15 in March, a change of plus $2. Extra Light crude in Asia rose to $3 from $1, while Light crude reached $2.50 from zero. Medium and Heavy grades in Asia saw smaller increases but remained in positive territory for April.
Ajaka said: “Saudi oil giant Aramco has demonstrated its ability to deliver oil through alternative routes, specifically via pipelines to the Red Sea, despite supply disruptions caused by the ongoing war.”
This, he explained, highlights how Saudi Arabia is leveraging its position as a “reliable supplier” in a region where many other producers are either sanctioned, directly targeted, or logistically constrained.
Salamey said Iran aims to widen the conflict to make it globally costly: “By threatening Gulf infrastructure and shipping, Tehran hopes GCC (Gulf Cooperation Council) states will pressure Washington to negotiate and end the war.”
According to the expert, Tehran seeks sustained disruption of energy markets rather than a full blockade, since a total closure would “almost certainly” trigger a major military response. The strategy risks backfiring if direct harm to Gulf states pushes them to join the war.
Airlines grapple with airspace closures
The region’s aviation sector has faced its most severe test since the COVID-19 pandemic, with carriers across the Middle East announcing mass cancelations and emergency schedule adjustments.
Etihad Airways said it would resume a limited commercial flight schedule from March 6, operating between Abu Dhabi and a number of key destinations, while Emirates Airline anticipates a return to 100% of its network within the coming days, subject to airspace availability and the fulfilment of all operational requirements.
Qatar Airways announced that its scheduled flight operations remain temporarily suspended due to the closure of Qatari airspace, and it would provide a further update on March 7.
Saudi low-cost carrier Flynas confirmed it is operating limited exceptional flights between Saudi Arabia and Dubai starting from March 6.
Saudia Airlines, however, canceled flights to and from Amman, Kuwait, Dubai, Abu Dhabi, Doha, and Bahrain, effective until March 6 at 23:59 GMT.
In Beirut, Middle East Airlines’ spokesperson Rima Makkaoui told Arab News that the carrier is “operating flights to all destinations normally, except those that have their airspace closed such as Iraq and Kuwait.”
MEA announced a strict new No-Show policy, imposing a $300 fee for economy class and $500 for business class passengers who fail to cancel bookings within the specified timeframe.
The move comes in response to passengers and travel agents booking multiple seats simultaneously, then failing to show up without cancelation, depriving other travelers of seats during this critical period.
Royal Jordanian continued operating flights to Beirut as scheduled, while flights to Doha and Dubai remained canceled according to the Queen Alia International Airport website.
