Brent oil hits 4-month high on reports of output freeze deal
Global oil prices hit four-month highs on Tuesday, hovering just under $45 a barrel after a report that top producers Russia and Saudi Arabia...
UAE energy minister expects oil prices to recover this year
United Arab Emirates Energy Minister Suhail al-Mazrouei said Tuesday he expects a recovery in plummeting oil prices before the end of the year.
“I am...
Gulf banks under pressure from low oil prices
Banks in the six-nation Gulf Cooperation Council (GCC) are being increasingly challenged by a liquidity squeeze resulting from low oil prices, Moody's Investor Services...
U.S. stocks jump as investors ready for looming rate hike
U.S. stocks strengthened and long-dated Treasury prices cut losses on Wednesday after minutes from the most recent Federal Reserve policy meeting showed a core...
Crop fires, a weapon of war, ruin Iraqi, Syrian harvests
IRBIL, Iraq (AP) — It was looking to be a good year for farmers across parts of Syria and Iraq. The wettest in generations,...
Turkish lira, shares boosted by Erdogan election win
Turkish markets rallied on Monday as investors bet on Tayyip Erdogan's presidential election victory bringing political stability, setting aside any concerns over the direction...
Russian oil chief Sechin: OPEC unity effectively extinct
OPEC is effectively extinct as a united organisation and the time when it could determine global oil market conditions should be forgotten, Igor Sechin,...
Saudi Arabia orders 5% cut in contract spending
Saudi Arabia's government, its finances strained by low oil prices, is opening a fresh austerity drive by ordering ministries to cut their spending on...
Oil slides to lowest since 2003 as Iran sanctions lifted
Oil prices hit their lowest since 2003 on Monday, as the market braced for a jump in Iranian exports after the lifting of sanctions...
Saudi consumers still spending despite oil price slump
Bloomberg TV report that Saudi Arabians are still spending money despite the worldwide slump in oil prices. Emad Mostaque reports that the kingdom of...
