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Oil Rises with Washington and Tehran Truce Stumbling and Continued Closure of Hormuz
SadaNews - Oil prices rose after U.S. President Donald Trump cast doubts on the ceasefire with Iran, following his rejection of Iran's latest peace offer, which extends the actual closure of the vital Strait of Hormuz.
Brent crude traded near $105 per barrel after rising 2.9% in the previous sessio...
Gold Prices Record Near $4,716 Per Ounce
SadaNews - On Tuesday, May 12, 2026, global precious metals markets witnessed new levels in gold and silver trading prices.
According to updated financial data, the price of an ounce of gold globally reached $4,716, while the price of an ounce of silver was $85.
These numbers come as investors and...
Oil Surges After Trump Rejects Iran's Response to Proposal to End the War
SadaNews - Oil prices rose after U.S. President Donald Trump rejected Iran's latest response to his proposal to end the war in the Middle East, extending the effective closure of the vital Strait of Hormuz.
Brent crude futures surged by as much as 4.2% to $105.54 per barrel, while West Texas Interm...
Gold Falls Amid Rising Inflation Fears After Washington-Tehran Deal Stumbles
SadaNews - Gold fell after President Donald Trump rejected the latest Iranian peace offer to end the 10-week-long conflict that has disrupted navigation in the Strait of Hormuz, igniting inflation fears, while weekend clashes in the Middle East threatened the fragile ceasefire.
The precious metal t...
Egypt's 'Travco' to Launch Airline in November with $150 Million Investment
SadaNews - The Egyptian tourism company Travco plans to launch a new airline in November with an investment of $150 million, according to Hamid El-Shiti, Chairman of the company, in an interview with "Asharq".
This announcement comes just days after the Egyptian Minister of Civil Aviati...
Aramco's Profits Jump 26% in Q1 2026, Surpassing Expectations
SadaNews - Saudi Aramco's profits grew beyond analysts' expectations in the first quarter of 2026, supported by rising oil prices and the company's ability to continue exports despite disruption of shipping traffic through the Strait of Hormuz due to the Iran war.
The company announce...
Iran's War Drains Global Oil Stocks at an Unprecedented Rate
SadaNews - The world is rapidly depleting oil stocks at a record pace, as Iran's war strangles flows from the Arabian Gulf, eroding the very reserves designed to shield against supply shocks.
The rapid contraction in inventories indicates that the risk of sharp price spikes and a more acute supply...
Bloomberg: Dubai Recovers Businessmen and Tycoons Displaced by the Iran War
SadaNews - Signs of normal life are gradually returning to Dubai, with the crowds back at the luxurious "Arts Club" restaurants in the financial center and traffic picks up again in the area, coinciding with the influx of bankers, traders, and executives returning to their offices following their te...
Gold ounce nears $4714... Silver ounce around $80
SadaNews - The precious metals market witnessed a state of anticipation today, with a focus on the new price levels recorded for the ounce globally.
Gold prices were recorded at nearly $4,714 per ounce in spot transactions. This price stability comes at a time when attention is directed towards glo...
Oil Prices Rise Amid Renewed Tensions in the Straits of Hormuz
SadaNews Economy - Oil prices rose by about 1% on Friday, following renewed fighting between the United States and Iran, which threatened the fragile ceasefire and dissipated hopes of progress towards reopening the Straits of Hormuz, a major corridor for transporting oil and liquefied natural gas....
"Mastercard" Reconnects Syria to the Global Payment Network
SadaNews - Mastercard announced the completion of its readiness to process international banking card transactions within Syria, marking the first such move in over 15 years and paving the way for re-establishing the Syrian market's connection to the global payment network.
This step allows point-o...
Trump Gives Europe Until July 4 to Implement Trade Agreement
SadaNews - U.S. President Donald Trump stated that he had a "great call" with European Commission President Ursula von der Leyen on Thursday and granted the European Union a deadline until July 4 to implement what he referred to as the trade agreement; otherwise, Washington will raise tariffs to muc...