Page 32 - Arab Light News Today

A softening US economy and continued fragility among its banks, as well as weak manufacturing data in China, have triggered a renewed fall in Brent and WTI futures. Refining margins have also sunk.

Indian shares may open a tad lower on Friday, tracking weak cues from the U.S. and European markets. Unabated FII inflows on the back of falling oil prices and a weakening dollar in overseas markets may offer some support at lower levels.

European stocks are likely to open higher on Friday after Apple's fiscal second-quarter earnings beat market expectations. The Cupertino-based tech giant has achieved a record revenue of $94.

WASHINGTON (dpa-AFX) - Oil prices climbed on Friday but were set for a third straight week of losses on fears of an impending recession in the United States and slowing Chinese growth.Benchmark

Saudi Arabia has cut the official selling price for its Arab Light crude oil to Asia, suggesting an unexpected weakness in Asian demand for Middle Eastern crude.

Saudi Arabia, the world's top oil exporter, has cut the price of its June flagship crude to Asian buyers for the first time in four months, following a plunge in refining margins.

OPEC+ output cuts created an ideal scenario for Middle East producers to hike OSPs, but ongoing demand concerns could force them to cut prices in June

Top oil exporter Saudi Arabia may cut the price for its flagship Arab Light crude to Asia in June despite an extra output cut from OPEC+, as refiners hit by sliding fuel prices consider reducing output and China and India snap up cheap Russian crude.

SINGAPORE: Top oil exporter Saudi Arabia may cut the price for its flagship Arab Light crude to Asia in June despite...

Moscow offers Islamabad payments for crude in dirham, yuan and ruble