SINGAPORE: Oil prices rose on Friday as heightened tensions in the Middle East raised the risk of supply disruptions from the oil-producing region, though prices are set for weekly losses amid expectations of fewer US interest rate cuts this year, according to Reuters. Brent crude futures climbed 75 cents, or 0.84 percent, to $90.49 a barrel … Read more
SINGAPORE: Oil prices rebounded on Thursday as US crude and gasoline stock drawdowns lent support despite signs that the US Federal Reserve may keep interest rates higher for longer, according to Reuters. Brent crude futures for May rose 46 cents, or 0.5 percent, to $86.41 a barrel by 10:30 a.m. Saudi time, after falling 1.6% … Read more
RIYADH: Recouping its losses on Monday, Saudi Arabia’s Tadawul All Share Index rebounded on Tuesday, gaining 58.22 points to close at 12,613.94. The Kingdom’s benchmark index posted a trading value of SR8.38 billion ($2.23 billion), with 124 of the listed stocks advancing and 93 declining. Saudi Arabia’s parallel market Nomu also gained 71.18 points to … Read more
NEW YORK: Oil prices rebounded slightly on Wednesday after extended declines as signs of supply tightness amid output cuts by major producers overrode demand growth concerns in China and the US, the world’s two biggest crude consumers, according to Reuters. Brent crude futures were up 17 cents to $82.21 a barrel at 7:40 a.m. Saudi … Read more
RIYADH: Saudi Aramco’s domestic supply chain is poised for further improvement as it signed procurement agreements worth $6 billion with suppliers in the Kingdom. According to a press statement, these 40 procurement agreements were inked as a part of the company’s strategic localization program and are expected to strengthen the firm’s supply chain ecosystem and … Read more