Tag Archives: The Gulf Today Newspaper

Oil prices fell on Monday, declining around 1% on concerns about decrease in demand for fuel products due to more European lockdowns. Brent crude was down 60 cents, or 0.9%, at $63.93 a barrel by 01:36 GMT while US oil was off by 68 cents, or 1.1%, at $60.74 a …

Although the COVID-19 pandemic is causing disruptions across almost all industries, the oil and gas sector is less likely to witness significant disruption in the short term, according to Dr Angela Wilkinson, Secretary General of the World Energy Council (WEC). “While the energy transition progresses, we now see that significant …

Oil prices jumped on Tuesday due to weather affecting wells and refineries in Texas, the world’s biggest oil producer. Concerns of supply in the world’s biggest oil exporter also edged prices higher due to tensions in the Middle East. Brent crude was up 35 cents, or 0.6%, at $63.65 a …

Oil prices slipped on Monday due to worries about global fuel demand as coronavirus restrictions across Europe toughens and China imposes restrictions due to jump in cases. Brent crude oil futures were down 65 cents, or 1.2%, at $55.34 a barrel while US West Texas Intermediate (WTI) slipped 44 cents, …

Oil advanced on Thursday as Britain starts vaccinating its residents and United states approval of the vaccine. US West Texas Intermediate (WTI) crude futures rose 25 cents, or 0.6%, to $45.77 a barrel at 05:00 GMT, while Brent crude futures climbed 22 cents, or 0.5%, to $49.08 a barrel. Prices …

Oil advanced on Wednesday as market ignored the rise of US crude stockpiles above expectations due to optimism of COVID-19 vaccine, this is its fourth straight session gain. Brent crude was up 38 cents, or 0.8%, at $48.24 a barrel by 06:16 GMT it rose by almost 4% in the …

World’s largest oil company Aramco remains committed on its investment plan in India, including a $15 billion deal with Reliance Industries, even though Covid-19 pandemic has made life difficult for oil companies with suppressed demand and falling oil prices and wide scale erosion in valuations. Replying to a query from …

The current developments and future prospects of the global oil markets were deliberated on Friday by the oil ministers of the UAE, Saudi Arabia, Kuwait, Bahrain, Oman and Iraq. This came in a conference call where the Saudi Minister of Energy Prince Abdulaziz Bin Salman Bin Abdulaziz Al Saud, Suhail …

Aramco on Wednesday announced the successful completion of its share acquisition of a 70 per cent stake in Saudi Basic Industries Corporation, SABIC, from the Public Investment Fund, PIF, the sovereign wealth fund of Saudi Arabia, for a total purchase price of SAR 259.125 billion (US$ 69.1 billion), equating to …

The UAE Minister of Energy and Industry Suhail Bin Mohammed Al Mazrouei has said that a new agreement between OPEC members is essential to support a balanced and less volatile market. Al Mazrouei said, via a series of tweets, “OPEC and OPEC+ played an important role in delivering market stability. …