Tag Archives: Middle East

China has long been building inroads into Africa, while the U.S. backs down from the region, leaving a gaping hole in the West’s influence over the “final frontier”. Now, however, we’re seeing all that soft power and oil-backed loans fizzle out as various think tanks note that China is increasingly …

Oil prices rose on Wednesday after industry data showed a bigger-than-expected draw in U.S. crude stockpiles, while the market kept tabs on flaring tensions in the Middle East. Brent crude futures edged up 47 cents or 0.5% to $86.71 per barrel at 0330 GMT, touching a 10-week high. U.S. West …

Oil prices fell in early Monday trading, after Israel withdrew some soldiers from Gaza amid renewed ceasefire talks, defusing some tension in the Middle East ahead of the Eid Al Fitr holiday. Brent, the benchmark for two thirds of the world’s oil, was down 1.16 per cent at $90.11 a …

More than 350 industry professionals gathered in Dubai last week to give hydrogen a reality check. It became apparent during two days of discussions that, as a future fuel for the Middle East and North Africa (MENA), hydrogen will not be easy to establish. The flurry of project announcements over …

The International Monetary Fund said on Sunday Middle East economies were lagging below growth projections due to oil production cuts and the Israel-Gaza conflict, even as the global economic outlook remained resilient. Despite uncertainties, “the global economy has been surprisingly resilient,” IMF managing director Kristalina Georgieva told the Arab Fiscal …

Oil edged higher as the risk that airstrikes by the US and allies against the Houthis would ignite a wider conflict and disrupt crude flows from the Middle East was balanced by soft fundamentals. Brent crude rose toward $79 a barrel and West Texas Intermediate was near $73 after the …

Oil prices experienced a decline towards the end of the week following the release of two American detainees by Hamas in Gaza, raising hopes that the Israeli-Palestinian crisis might not escalate further, averting potential disruptions in oil supplies across the Middle East. Brent crude futures dipped by 22 cents, or …

Oil prices surged on Wednesday as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region. Brent crude futures advanced $1.69, or 1.9 per cent, to $91.59 a barrel at 0347 GMT. West …

Oil edged higher on Wednesday as investors grappled with the prospect of supply disruptions due to the Middle East turmoil. Brent crude rose 26c, or 0.3%, to $87.91 a barrel by 3.12am GMT. US West Texas Intermediate (WTI) crude rose 17c, or 0.2%, to $86.14 a barrel. Brent and WTI …

Oil prices were up more than $3 a barrel in Asian trade on Monday as military clashes between Israel and the Palestinian Islamist group Hamas deepened political uncertainty across the Middle East and raised concerns about supplies. Brent crude rose $3.10, or 3.67%, to $87.68 a barrel by 0400 GMT, …