barrel on Friday while WTI closed 1.02 per cent higher at $74.05 a
barrel. Following a small post-FOMC [Federal Open Mark Committee] correction, crude oil quickly resumed its move higher, with WTI and Brent both reaching levels last seen in 2018, said Ole Hansen, head of commodity strategy at Saxo Bank. This is in the belief that Opec+ will, in the near-term, manage production increases in a manner that ensures continued price support as global demand continues to recover and, later on, due to increased concerns that a lack of capex spent on new production could leave the market undersupplied from late 2022 onwards, he said.
ALEXANDRIA: Washington considers the Yemeni government led by President Abed Rabbo Mansour Hadi as the nation’s only legitimate government, but also deals with the Iran-backed Houthis because they are in control of parts of the country and the people there, the US Department of State told Arab News on Friday. “The United States, like the rest of the international community,
Located in the Asir region, Al-Majarda village is home to a wide range of wildlife and rare plants. Visitors arrive in search of the sounds of nature as well as the sight of green growth and waterfalls. Visitors to the villages in the northern Majarda governorate can enjoy spectacular sights from the mountainside of Tahawi, famous for its volcanic rock. Heavy rain in the areas
JEDDAH: Saudi Arabia’s “Summer Vibes” is bringing 500 tourist experiences across 11 destinations to Saudi residents this summer in what promises to be a rich and fun experience for all. The Saudi Tourism Authority has launched its Saudi Summer Program 2021, running from June 24 until the end of September, offering tourist experiences through the Visit Saudi platform alongside
PARIS: The United States and France on Friday warned Iran that time is running out to return to a nuclear deal, voicing fear that Tehran’s sensitive atomic activities could advance if talks drag on. On the first high-level visit to Paris by President Joe Biden’s administration, Secretary of State Antony Blinken and his French hosts saluted a new spirit of cooperation after