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Gulf Today Report
Oil prices dropped on Monday after recording more than $70 a barrel gains due to the attacks on Saudi Arabian oil facilities.
Benchmark Brent climbed as high as $71.38 a barrel while US West Texas Intermediate (WTI) crude was down 22 cents or 0.3% at $65.87 after touching $67.98 a barrel.
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Yemen's Houthi forces fired drones and missiles at the heart of the Saudi oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports. Riyadh said there were no casualties or loss of property.
The Saudi attack came after OPEC+ agreed to stick with output cuts despite the increase in crude prices.
Brent crude futures added 61 cents, or 1%, to $64.68 a barrel, as of 04:28 GMT while US West Texas Intermediate (WTI) crude futures gained 28 cents or 0.5% to $61.56 a barrel.
US West Texas Intermediate (WTI) crude futures rose 18 cents, or 0.3%, to $59.93 a barrel by 03:56 GMT while Brent crude futures rose 29 cents, or 0.46%, to $62.99 a barrel.
Brent crude dropped 70 cents, or 1.1%, to $62.99 a barrel by 04:57 GMT while US West Texas Intermediate (WTI) crude fell 71 cents, or 1.2%, to $59.93 a barrel.
Dubai Industrial City, a member of TECOM Group, announced on Tuesday its participation in the second edition of the Ministry of Industry and Advanced Technology’s (MoIAT)
DP World, a global leader in supply chain solutions, has partnered with Standard Bank, the largest bank in Africa by assets, to offer trade finance solutions jointly with DP World Trade Finance.
Dubai’s Department of Economy and Tourism (DET) today announced the launch of a new QR Code initiative for Holiday Homes in Dubai, as part of efforts to improve transparency