No matching items found
Picture used for illustrative purpose. File
Gulf Today Report
Oil steadied on Wednesday due to OECD optimism for global economic recovery and OPEC+ output curbs, although rising US inventories capped it.
Brent crude fell 2 cents, or less than 0.1%, to $67.50 a barrel by 09:43 GMT while US West Texas Intermediate crude rose 11 cents, or 0.2%, at $64.12 a barrel.
According to the Organisation for Economic Cooperation and Development, the world economy is likely to bounce back this year with 5.6% growth and expand 4.0% next year.
Gold prices drop following gains in US yields and dollars
Hub71 launches new programme to drive opportunities for startups
DBWC summit discusses women's input in growth and development
In a note, Standard Chartered said, "in our view, the 4 March OPEC+ meeting has not just left the door to higher prices open, it has taken that door off its hinges and chopped it up for firewood."
In the United States, crude inventories rose by 12.8 million barrels last week, analysts expected 800,000 barrels.
Brent crude was down 37 cents, or 0.5%, at $67.63 a barrel by 05:35 GMT while US oil was also down 32 cents, or 0.5%, at $64.28 a barrel, having fallen 0.3% the previous session.
US West Texas Intermediate (WTI) crude fell 4 cents, or 0.07%, to $59.96 a barrel by 05:52 GMT while Brent crude was down 10 cents, or 0.16%, to $63.18 a barrel.
Brent crude was down 60 cents, or 0.9%, at $63.93 a barrel by 01:36 GMT while US oil was off by 68 cents, or 1.1%, at $60.74 a barrel.
US West Texas Intermediate (WTI) crude futures for May delivery fell 62 cents, or 1%, to $60.94 a barrel at 01:49 GMT while Brent crude futures for May dropped by 68 cents, or 1.1% to $63.94, erasing a 9 cent gain in the previous session.
The partially convertible rupee ended at Rs78.9650/9750 per US dollar (Dhs21.49) after touching a lifetime low of Rs78.97. The currency had closed at Rs78.77 on Tuesday.
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Council, launched ‘Dubai Global’, an initiative to establish 50 integrated
The Department of Government Relations (DGR) in Sharjah recently hosted a high-level delegation from Finland to strengthen collaboration between Sharjah and Finnish cities
The Philippines and the United Arab Emirates (UAE) have entered into a bilateral agreement that shall help heighten the food security of both countries, through joint activities, in the area of agricultural innovation.