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Oil Surpasses $100 Despite Historic Reserve Withdrawal Decision
SadaNews - Brent crude has once again jumped above the $100 per barrel mark after Oman evacuated ships from an oil export terminal, and two tankers were attacked in Iraqi waters, as the risks associated with the war with Iran expand throughout the Middle East.
The global benchmark for oil rose by u...
International Energy Agency Decides to Release 400 Million Barrels from Oil Reserves
SadaNews - The International Energy Agency has agreed to pump 400 million barrels from emergency oil reserves in the largest withdrawal operation ever, as governments seek to contain rising energy prices driven by the war in the Middle East.
"The scale of the challenges facing the oil market is unp...
European Central Bank Monitors Risks of Rising Fuel Prices
SadaNews - Joachim Nagel, member of the Governing Council of the European Central Bank and President of the German Central Bank (Bundesbank), stated in remarks to Reuters that the bank will act "swiftly and decisively" if rising fuel prices due to the war with Iran lead to a sustained increase in in...
Iran Exports 11.8 Million Barrels of Oil to China Since the Outbreak of the War
SadaNews - Iran has continued to send large quantities of crude oil through the Strait of Hormuz to China, despite the ongoing U.S.-Israeli war against Tehran which has put oil supplies via this maritime passage at risk.
Samir Madani, co-founder of the company TankerTrackers, stated that Iran has s...
Oil Fluctuates as IEA Proposes Record Withdrawals from Reserves
SadaNews - Oil gave up its previous gains and its prices fluctuated around the $87 per barrel mark, following a report by the "Wall Street Journal" which indicated that the "International Energy Agency" is proposing the largest drawdown from reserves in its history to combat rising prices caused by...
Asian Stocks Rise as Oil Shock Fears Subside
SadaNews - Asian stocks extended their gains, with oil trading below $90 a barrel, following a report about the potential release of oil reserves to calm rising energy prices, which boosted market confidence.
The "MSCI Asia-Pacific Index" rose by 1.9%, marking its second consecutive day...
Gold Prices Rise Above $5,200 Amid Expectations for Iran War Path
SadaNews - Gold prices rose after a report indicated that the International Energy Agency is proposing the largest withdrawal from oil reserves ever, in order to mitigate the demand shock caused by the war in the Middle East.
Gold surpassed the $5,200 per ounce level after gaining 1% in the previou...
Jordan Hotels Association: Sharp Decline in Hotel Occupancy Rates and Cancellations of Tou...
SadaNews - The Jordan Hotels Association stated on Monday that it is closely monitoring the geopolitical developments and the ongoing war in the Middle East, which impose direct repercussions on global travel and tourism movement, the effects of which have begun to clearly reflect on the tourism sec...
Aramco's 2025 Profits Fall Short of Expectations Amid Declines in Oil and Refined Product...
SadaNews - Saudi Aramco reported profits below expectations last year, affected by a decline in crude oil, refined products, and chemical prices, according to company data released on Tuesday.
The results showed a net income drop of 11.6% to approximately 348 billion riyals.
These results reflect...
Egypt Temporarily Postpones Plan to Issue International Bonds Amid Fallout from the War on...
SadaNews - The Egyptian government has postponed its plan to issue international bonds during the current period due to the escalating geopolitical tensions related to the U.S.-Israeli war on Iran, according to statements from a government official.
Finance Minister Ahmed Kojok revealed at the begi...
War and Rising Energy Prices Threaten Global Sugar Supplies
SadaNews - Analysts stated that the sharp rise in energy prices, coupled with the ongoing war in the Middle East, will drive sugarcane processing plants in Brazil to increase ethanol production and reduce sugar output in the upcoming season, which starts in the coming weeks.
Raw sugar contracts on...
Oil Prices Decline As Trump Seeks to Alleviate Concerns Over Length of War
SadaNews - Oil prices fell after U.S. President Donald Trump stated that the war with Iran would end soon, as the conflict in the Middle East turns global energy markets upside down and raises new inflation concerns.
Brent and West Texas Intermediate crude dropped by more than 10% before recovering...