/main-category/energy en /node/2610244/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Fri, 2025-08-01 11:02</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> LONDON: Oil prices were little changed on Friday and heading for a weekly gain, as investors weighed the impact of further tariffs and sanctions by US President Donald Trump.</p> <p> Brent crude futures were up 19 cents, or 0.26 percent, to $71.89 a barrel at 11:23 a.m. Saudi time. US West Texas Intermediate crude was up 20 cents, or 0.29 percent, to $69.46 a barrel.</p> <p> Prices stabilized on Friday after losing more than 1 percent in the previous session. However, for the week Brent was on course for a 5 percent gain, and WTI around 6.6 percent.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/08/01/4626603-2102570452.jpg" width="1000" height="534" alt="" title="Brent crude futures were down 7 cents, or 0.1 percent, to $71.63 a barrel at 9:56 a.m. Saudi time. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates">oil updates</a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> Fri, 01 Aug 2025 08:08:31 +0000 owen.bennett 2610244 at /node/2610125/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/rbitem-author/arab-news">Arab News</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2025-07-31 13:12</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Saudi Aramco has reduced its official selling prices for liquefied petroleum gas for August 2025.</p> <p> The state energy giant on Thursday set propane at $520 per tonne and butane at $490 per tonne — both down $55 from July.</p> <p> The cuts reflect rising global production, particularly from the US and other Middle Eastern producers, and persistently high inventories following a milder-than-expected 2024-25 winter.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/31/4626293-1809900917.jpeg" width="1200" height="675" alt="The state energy giant on Thursday set propane at $520 per tonne and butane at $490 per tonne — both down $55 from July. File" title="The state energy giant on Thursday set propane at $520 per tonne and butane at $490 per tonne — both down $55 from July. File" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/lpg">LPG</a></div><div class="field-item odd"><a href="/tags/saudi-aramco">Saudi Aramco</a></div></div></div> Thu, 31 Jul 2025 10:14:57 +0000 shahrukh.jamshed 2610125 at /node/2610112/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2025-07-31 10:41</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> LONDON: Oil prices fell on Thursday as investors weighed the supply risks from US President Donald Trump’s push for a swift resolution to the war in Ukraine through more tariffs, while a surprise build in US crude stocks on Wednesday also weighed on prices.</p> <p> Brent crude futures for September, set to expire on Thursday, declined by 61 cents, or 0.83 percent, to $72.63 a barrel by 3:26 p.m. Saudi time. US West Texas Intermediate crude for September fell 68 cents, or 0.97 percent, to $69.32.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/31/4626265-2104613889.jpg" width="1000" height="667" alt="" title="US West Texas Intermediate crude for September dropped 17 cents, or 0.2 percent, to $69.83 a barrel. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates%C2%A0">Oil Updates </a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> Thu, 31 Jul 2025 07:53:15 +0000 sarah.glubb 2610112 at /node/2609971/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Wed, 2025-07-30 10:30</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> LONDON: Oil prices steadied on Wednesday as investors awaited developments on US President Donald Trump’s tighter deadline for Russia to end the war in Ukraine and his tariff threats to countries that trade its oil.</p> <p> The most active Brent crude futures were down 5 cents or about 0.1 percent, at $71.63 a barrel by 2:26 p.m. Saudi time while US West Texas Intermediate crude slipped 5 cents to $69.61.</p> <p> The Brent crude September contract that expires on Wednesday was steady at $72.50.</p> <p> Both contracts had fallen nearly 1 percent earlier in the day.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/30/4625905-1561743157.jpg" width="1799" height="1200" alt="" title="Brent crude futures were down 5 cents or about 0.1 percent, at $71.63 a barrel by 2:26 p.m. Saudi time. File/AFP" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates%C2%A0">Oil Updates </a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> <span class="label abs-el uppercase update"> Update </span> Wed, 30 Jul 2025 07:35:46 +0000 sarah.glubb 2609971 at /node/2609848/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2025-07-29 11:13</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> SINGAPORE: Oil prices were steady on Tuesday amid uncertainty about the global economic outlook following the US-EU trade deal, and as investors awaited the US Federal Reserve’s interest rate decision.</p> <p> Brent crude futures were up 1 cent at $70.05 a barrel at 8:10 a.m. Saudi time, while US West Texas Intermediate crude was at $66.69, down 2 cents.</p> <p> Both contracts settled more than 2 percent higher in the previous session, and Brent touched its highest level since July 18 on Monday.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/29/4625613-2025133383.jpg" width="1000" height="667" alt="" title="Oil market participants are also awaiting the US Federal Open Market Committee meeting on July 29-30. File/Reuters" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates%C2%A0">Oil Updates </a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> Tue, 29 Jul 2025 08:17:28 +0000 sarah.glubb 2609848 at /node/2609758/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/reem-walid">Reem Walid</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Mon, 2025-07-28 15:59</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ºÚÁÏÉçÇø and Syria are strengthening their energy cooperation through a new agreement that covers oil and gas, petrochemicals, electricity, regional grid integration, and renewable energy.</p> <p> The memorandum of understanding was signed by the Kingdom’s Minister of Energy, Prince Abdulaziz bin Salman, and his Syrian counterpart, Mohammed Al-Bashir, following a meeting held in Riyadh, according to a statement.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/28/4625399-692801879.jpg" width="1600" height="1066" alt="" title="The memorandum of understanding was signed by Saudi Minister of Energy Prince Abdulaziz bin Salman and his Syrian counterpart, Mohammed Al-Bashir, in Riyadh. SPA" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/saudi-syria">Saudi-Syria</a></div><div class="field-item odd"><a href="/category/tags/saudi-arabia">ºÚÁÏÉçÇø</a></div><div class="field-item even"><a href="/category/tags/syria">Syria</a></div><div class="field-item odd"><a href="/tags/prince-abdulaziz-bin-salman">Prince Abdulaziz bin Salman</a></div><div class="field-item even"><a href="/tags/energy-0">energy</a></div><div class="field-item odd"><a href="/tags/mohammed-al-bashir">Mohammed Al-Bashir</a></div></div></div> Mon, 28 Jul 2025 13:12:34 +0000 sarah.glubb 2609758 at /node/2609615/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri-0">Nour El-Shaeri</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sun, 2025-07-27 12:49</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Saudi and Syrian business leaders affirmed their readiness to support the redevelopment of Syria’s energy infrastructure following a high-level meeting in Riyadh. </p> <p> The participants presented proposals for joint projects focused on conventional and renewable energy sectors, signaling a potential shift toward greater regional investment collaboration. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/27/4625039-2072678472.png" width="660" height="330" alt="" title="The participants presented proposals for joint projects focused on conventional and renewable energy sectors. SANA" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/saudi-syria">Saudi-Syria</a></div></div></div> Sun, 27 Jul 2025 09:55:28 +0000 sarah.glubb 2609615 at /node/2609380/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Fri, 2025-07-25 10:06</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> LONDON: Oil prices were steady on Friday, as trade talk optimism supported the outlook for both the global economy and oil demand, balancing news of the potential for more oil supply from Venezuela.</p> <p> Brent crude futures were up 28 cents, or 0.4 percent, at $69.46 a barrel at 3:11 p.m. Saudi time. US West Texas Intermediate crude futures were up 27 cents, or 0.41 percent, at $66.30.</p> <p> Brent was heading for a 0.3 percent weekly gain at that level, while WTI was down around 1.5 percent from where it closed last week.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/25/4624405-127844577.jpg" width="1000" height="534" alt="" title="Brent crude futures were up 20 cents, or 0.29 percent, at $69.38 a barrel by 8:19 a.m. Saudi time. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates">oil updates</a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> Fri, 25 Jul 2025 07:15:43 +0000 owen.bennett 2609380 at /node/2609245/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2025-07-24 10:42</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> TOKYO: Oil prices rose around 1 percent on Thursday, buoyed by optimism over US trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in US crude inventories.</p> <p> Brent crude futures gained 64 cents, or 0.9 percent, to $69.15 a barrel by 8:30 a.m. Saudi time. US West Texas Intermediate crude futures climbed 68 cents, or 1 percent, to $65.93 per barrel.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/24/4624062-1585769837.jpg" width="3000" height="2001" alt="" title="Gasoline stocks also fell by 1.7 million barrels to 231.1 million barrels, nearly double the expectations for a 908,000-barrel draw. Reuters" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates%C2%A0">Oil Updates </a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> Thu, 24 Jul 2025 07:48:42 +0000 sarah.glubb 2609245 at /node/2609110/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Wed, 2025-07-23 10:40</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> LONDON: Oil prices fell for the fourth consecutive session on Wednesday, as investors assessed trade developments including a US tariff deal with Japan ahead of a US stocks data announcement.</p> <p> Brent crude futures were down 50 cents, or 0.7 percent, at $68.09 a barrel as of 2:19 p.m. Saudi time. US West Texas Intermediate crude futures were down 47 cents, or 0.7 percent, at $64.84 per barrel.</p> <p> Both benchmarks lost about 1 percent in the previous session after the EU said it was considering countermeasures against US tariffs.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/23/4623728-558447114.jpg" width="1000" height="667" alt="" title="A general view of oil tanks at Turkiye’s Mediterranean port of Ceyhan, some 70 km (43.5 miles) from Adana. File/Reuters" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates%C2%A0">Oil Updates </a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> <span class="label abs-el uppercase update"> Update </span> Wed, 23 Jul 2025 07:46:39 +0000 sarah.glubb 2609110 at /node/2609009/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nirmal-narayanan">Nirmal Narayanan</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2025-07-22 14:10</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: The combined gas demand in the Middle East and Africa region is expected to rise by 2 percent in 2025 before accelerating to 3.5 percent in 2026, driven by higher use in the industry and power sector, an analysis showed. </p> <p> In its latest report, the International Energy Agency projected that global gas consumption is projected to reach an all-time high in 2026, with demand growth accelerating to around 2 percent, up from the expected 1.3 percent expansion in 2025. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/22/4623481-1019808676.jpg" width="1000" height="667" alt="" title="Natural gas is a significant source of energy for power generation, industrial processes, and heating. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/liquefied-natural-gas-lng">Liquefied Natural Gas (LNG)</a></div><div class="field-item odd"><a href="/tags/international-energy-agency-iea">International Energy Agency (IEA)</a></div></div></div> Tue, 22 Jul 2025 11:17:09 +0000 owen.bennett 2609009 at /node/2608984/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2025-07-22 10:31</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> SINGAPORE: Oil prices declined on Tuesday amid concerns the brewing trade war between major crude consumers, the US and the EU, will curb fuel demand growth by lowering economic activity.</p> <p> Brent crude futures were down 28 cents, or 0.40 percent, to $68.93 a barrel at 8:58 Saudi time. US West Texas Intermediate crude was at $66.83 a barrel, down 37 cents, or 0.55 percent. Both benchmarks settled slightly lower on Monday.</p> <p> The August WTI contract expires on Tuesday, and the more active September contract was down 29 cents, or 0.44 percent, to $65.66 a barrel.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/22/4623422-909157610.png" width="1332" height="876" alt="" title="Supply concerns have largely been alleviated by major producers raising output. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates%C2%A0">Oil Updates </a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> Tue, 22 Jul 2025 07:51:19 +0000 sarah.glubb 2608984 at /node/2608895/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/dayan-abou-tine">Dayan Abou Tine</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Mon, 2025-07-21 16:04</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ºÚÁÏÉçÇø’s crude oil exports rose to 6.19 million barrels per day in May, an annual increase of 1.19 percent, according to the Joint Organizations Data Initiative. </p> <p> The rise was driven by increased production, which also climbed during the month, rising by 2.12 percent year on year to 9.18 million bpd. </p> <p> This marks a continuation of the Kingdom’s phased dialling up of output as OPEC+ producers gradually unwind voluntary cuts introduced in previous years. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/21/4623182-90442331.jpg" width="1000" height="667" alt="" title="ºÚÁÏÉçÇø’s refined oil exports grew by 12.12 percent to reach 1.37 million bpd in May. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/joint-organizations-data-initiative">Joint Organizations Data Initiative</a></div><div class="field-item odd"><a href="/category/tags/oil">Oil</a></div><div class="field-item even"><a href="/tags/saudi-oil">Saudi oil</a></div></div></div> Mon, 21 Jul 2025 13:10:44 +0000 owen.bennett 2608895 at /node/2608877/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/reem-walid">Reem Walid</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Mon, 2025-07-21 14:21</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Saudi utility giant ACWA Power has signed multiple agreements to export renewable electricity and green hydrogen to Europe, marking a major step in the Kingdom’s efforts to become a global clean energy hub. </p> <p> The deals, signed during an international workshop in Riyadh under the supervision of the Ministry of Energy, aim to build integrated systems for cross-border energy exports. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/21/4623143-1043545117.jpg" width="1600" height="1066" alt="" title="The deals were signed during an international workshop in Riyadh under the supervision of the Ministry of Energy. SPA" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/acwa-power">ACWA Power</a></div><div class="field-item odd"><a href="/tags/green-hydrogen">Green hydrogen</a></div><div class="field-item even"><a href="/tags/saudi-ministry-energy-moe">Saudi Ministry of Energy (MoE)</a></div></div></div> Mon, 21 Jul 2025 11:23:31 +0000 sarah.glubb 2608877 at /node/2608862/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Mon, 2025-07-21 10:47</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> LONDON: Oil prices dipped slightly on Monday, with the latest European sanctions on Russian oil expected to have minimal impact on supplies while US tariffs ensure demand concerns remain.</p> <p> Brent crude futures dropped 35 cents, or 0.5 percent, to $68.93 a barrel by 3:24 p.m. Saudi time, while US West Texas Intermediate crude slipped by 28 cents, or 0.4 percent, to $67.06.</p> <p> The EU on Friday approved the 18th package of sanctions against Russia over the war in Ukraine, which also targeted India’s Nayara Energy, an exporter of oil products refined from Russian crude.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/07/21/4623103-1154103929.jpg" width="1000" height="667" alt="" title="Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China. File/Reuters" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates%C2%A0">Oil Updates </a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> Mon, 21 Jul 2025 07:51:40 +0000 sarah.glubb 2608862 at