Paris: The International Energy Agency on Wednesday sharply reduced its forecast for global oil demand this year, as supplies remain crimped by the closure of the Strait of Hormuz and high prices deter buyers. Demand is expected to slump by 1.6 million barrels per day (mb/d), compared with its forecast slump of one million barrels […]
The Environment Authority, in close coordination with the Ministry of Transport, Communications and Information Technology and other relevant national stakeholders, is continuing its comprehensive response to the grounding of the vessel Caroline Bezengi off the Hallaniyat Islands in Dhofar Governorate. The operation is being executed through an integrated national framework that combines technical spill remediation, […]
SYDNEY/LONDON: Global equities inched higher on Monday as oil prices held broadly steady after Iran said it was nearing a final pact with Oman defining new shipping lanes in the Strait of Hormuz, and as markets awaited key U.S. inflation data on Wednesday. Europe’s continent-wide Stoxx 600 index rose 0.1% while futures for the U.S. […]
US July payrolls seen rising 80,000 after 57,000 gain in June* Money markets show traders split on whether Fed will raise rates next month* Brent falls as investors shrug off tensions, focus on Hormuz deal Global stocks headed for their strongest weekly gain since May on Friday, ahead of major US jobs data, as investor […]
Oil prices skidded, and stocks wobbled on Monday as hopes of a peace deal in the Middle East grew, while the yen jumped suddenly again after the U.S. and Japan confirmed joint intervention to prop up the frail currency. Crude oil prices tumbled more than 5% on Monday as markets reacted to signs of a […]
MUSCAT: Oman has launched the engineering, procurement and construction (EPC) tender process for the next phase of development of the Ras Markaz Crude Oil Park, inviting qualified Omani and international contractors to prequalify for one of the Sultanate of Oman’s largest oil storage infrastructure projects. The move advances the next phase of the Ras Markaz […]
SINGAPORE: The dollar slumped against its major peers in Asian trading on Monday after the U.S. paused its bombing campaign in Iran during the weekend, prompting a drop in oil prices and boosting global investor confidence. Against the yen, the U.S. dollar was down 0.2% at 163.585 yen, its biggest decline since July 10. The […]
LONDON — We’ve all been down this road before. President Donald Trump issues a blitz of punitive tariffs on allies and rivals, straining trade, rattling bond markets, raising prices and injecting more uncertainty into the global economy. The difference now is that the United States is at war with Iran, key trade and energy routes […]
Hong Kong: Brent crude hit its highest price on Monday since June due to renewed fighting between the United States and Iran, while Asian equities were mixed as investors weighed the fallout of a prolonged Middle East war. Crude has surged over the past week as Washington and Tehran traded fire, raising fears of a […]
Side ENGALURU: Oil prices fell on Thursday to their lowest levels since before the outbreak of the Iran conflict, as improving supply conditions in the Middle East eased market concerns. Brent crude futures for August delivery declined $1.28, or 1.74 per cent, to $72.46 a barrel by 0845 GMT. US West Texas Intermediate crude fell […]
