Tag Archives: The National News

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 …

Oil prices were steady on Tuesday as weak economic data from China offset expectations of supply cuts. Brent, the benchmark for two thirds of the world’s oil, was trading 0.09 per cent lower at $88.92 a barrel at 9.02am UAE time, while West Texas Intermediate, the gauge that tracks US …

Oil prices hit multi-month highs to snap a two-week losing run amid expectations of further supply cuts by Opec+ members. Brent, the benchmark for two thirds of the world’s oil, rose 1.98 per cent, or $1.72, to settle at $88.55 a barrel. It hit a session high of $88.75, its …

Adnoc Gas, estimated to have the seventh largest gas reserves globally, has signed a five-year liquefied natural gas supply agreement with Japan Petroleum Exploration Co (Japex) The agreement is valued between $450 million and $550 million, the company said in a statement on Thursday to the Abu Dhabi Securities Exchange, …

Oil prices extended their gains on Thursday after breaching the $80-mark for the first time since April, as a sharp cooling in US inflation sparked hopes that the US Federal Reserve will ease off from further aggressive interest rate increases. Brent, the benchmark for two thirds of the world’s oil, …

The EU’s carbon emissions could decline again from 2023 amid continued growth in renewable energy generation capacity, Goldman Sachs has said. The bloc’s emissions rose 9 per cent from 2020 to 2022, driven by a surge in transport demand after the Covid-19, and significant gas-to-coal switching in the power generation …

Iraq is inviting international energy companies to take part in an energy bidding round to explore and develop natural gas reserves, the country’s oil minister said on Sunday. Hayan Abdel-Ghani said 11 gas exploration blocks in different parts of the country would be on offer and described them as “promising”. …

OPEC+ is fighting against “uncertainties and sentiments” in the market that is behaving against the fundamentals and forcing oil producers to take precautions, Saudi Arabia’s Energy Minister has said. “I think the physical market is telling us something and the futures market is telling us something else,” Prince Abdulaziz bin …

Oil prices rose on Monday after US leaders reached a tentative agreement to raise the nation’s debt ceiling following a month-long stalemate. The deal potentially averts a financial crisis in the world’s largest economy and biggest crude oil consumer. Brent, the benchmark for two thirds of the world’s oil, was …

Foreign and joint investments in Saudi Arabia’s industrial sector have reached more than 542 billion Saudi riyals ($144.53 billion) as the Arab world’s largest economy focuses on attracting more investments and diversifying its economy away from oil. The total foreign and joint investments represent 37 per cent of the industrial …