MARKETS

TASI 11,091 -0.9% UAE Index $18.96 -2.6% EGX 30 51,974 -0.6% Gold $4,523 -2.6% Oil (Brent) $114.31 +5.7% S&P 500 7,192 -0.5% Bitcoin $80,138 +2%

العربية

oil trade

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