Arab Light News Today

Crude oil futures fell for the third straight week due to OPEC's decision to unwind production cuts, while demand uncertainties and bearish data on US inventories added to concerns.

OIL prices climbed 1 per cent on Wednesday (Jun 5), rebounding from four-month lows, as hopes of an interest rate cut by the US Federal Reserve in September outweighed demand concern after data showed builds in US crude and fuel stocks.

Shares of energy companies rose as a rate cut from the European Central Bank quelled some economic concerns. Oil futures rose for the second straight session as the economic outlook brightened...

Price reduction for Asia in July

Crude exports from the world's largest oil exporter increased 1.5 per cent to 6.413 million barrels per day in March

Saudi Arabias crude oil exports rose for the second straight month in March, reaching their highest in nine months, data from the Joint Organizations Data Initiative showed on Monday. ... -May 20, 2024 at 07:50 am EDT - MarketScreener

Saudi Arabia’s crude oil exports rose for the second straight month in March, reaching their highest in nine months,...

Asian refiners are reducing their intake of Middle Eastern oil in favor of crude from the United States and Brazil.

U.S. West Texas Intermediate (WTI) crude futures increased 0.59%, to $78.94, while Brent crude futures gained 0.55%, to $83.79 per barrel.

Negotiations for a ceasefire between Israel and Hamas have continued without resolution