MARKETS

TASI 10,946 +0.5% UAE Index $17.65 -1.5% EGX 30 47,612 +3.4% Gold $4,550 -1.2% Oil (Brent) $106.00 +2.1% S&P 500 6,516 -1.4% Bitcoin $69,701 -0.3%

العربية

global finance

Economics

Petrodollar Explained: How Oil Built the Dollar's Global Dominance

What the petrodollar system is, how the 1974 Saudi-US deal created it, why it matters for global finance, and whether China and BRICS could end dollar dominance in oil markets.

Mar 12, 2026