/main-category/energy en /node/2604370/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/226076">REUTERS </a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Fri, 2025-06-13 09:36</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> SINGAPORE: Oil prices surged more than 9 percent on Friday, hitting their highest in almost five months after Israel struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies. </p> <p> Brent crude futures jumped $6.29, or 9.07 percent, to $75.65 a barrel by 06:15 a.m. Saudi time after hitting an intraday high of $78.50, the highest since Jan. 27. US West Texas Intermediate crude was up $6.43, or 9.45 percent, at $74.47 a barrel after hitting a high of $77.62, the loftiest since Jan. 21. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/13/4611420-799340346.jpg" width="1000" height="642" alt="" title="Brent crude futures jumped $6.29, or 9.07 percent, to $75.65 a barrel by 06:15 a.m. Saudi time after hitting an intraday high of $78.50, the highest since Jan. 27. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/category/tags/oil">Oil</a></div><div class="field-item odd"><a href="/category/tags/opec">OPEC</a></div><div class="field-item even"><a href="/tags/iran">Iran</a></div></div></div> Fri, 13 Jun 2025 06:41:26 +0000 ameen.syed 2604370 at /node/2604256/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2025-06-12 10:53</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> WASHINGTON: The World Bank’s board has agreed to end a longstanding ban on funding nuclear energy projects in developing countries as part of a broader push to meet rising electricity needs, the bank’s president Ajay Banga said on Wednesday.<br /> Banga outlined the bank’s revised energy strategy in an email to staff after what he called a constructive discussion with the board on Tuesday. He said the board was not yet in agreement on whether the bank should engage in funding the production of natural gas, and if so, under what circumstances.<br /></p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/12/4611131-2003948270.jpg" width="1000" height="667" alt="" title="World Bank President Ajay Banga attends the Milken Institute Global Conference 2025 in Beverly Hills, California, US, May 5, 2025. Reuters" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/world-bank">World Bank</a></div><div class="field-item odd"><a href="/tags/ajay-banga">Ajay Banga</a></div></div></div> Thu, 12 Jun 2025 07:59:31 +0000 sarah.glubb 2604256 at /node/2604251/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2025-06-12 09:58</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> SINGAPORE: Oil prices eased on Thursday, reversing gains made earlier in the Asian trading session, as market participants assessed a US decision to move personnel from the Middle East ahead of talks with Iran over the latter’s nuclear-related activity.</p> <p> Brent crude futures were down 49 cents, or 0.7 percent, to $69.28 a barrel at 9:30 a.m. Saudi time, while US West Texas Intermediate crude was 41 cents, or 0.6 percent, lower at $67.74 a barrel.</p> <p> A day earlier, both Brent and WTI surged more than 4 percent to their highest since early April.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/12/4611120-888326221.jpg" width="1000" height="534" alt="" title="Brent crude futures were down 49 cents, or 0.7 percent, to $69.28 a barrel at 9:30 a.m. Saudi time. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates">oil updates</a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> Thu, 12 Jun 2025 07:05:02 +0000 owen.bennett 2604251 at /node/2604152/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nirmal-narayanan">Nirmal Narayanan</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Wed, 2025-06-11 15:27</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Saudi utility giant ACWA Power is planning for new investments in Uzbekistan, affirming its status as the leading foreign investor in the Central Asian nation’s energy sector.</p> <p> According to the company's Chief Financial Officer (CFO) for Uzbekistan Sumendra Rout said at the IV Tashkent International Investment Forum, the company's total investment in Uzbekistan has already reached $15 billion, and the current portfolio of joint projects covers 19 energy initiatives, 18 of which are related to renewable energy sources.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/11/4610866-1062554441.png" width="1245" height="644" alt="" title="ACWA Power is the largest foreign player in Uzbekistan’s energy sector. File" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/acwa-power">ACWA Power</a></div><div class="field-item odd"><a href="/tags/uzbekistan">Uzbekistan</a></div><div class="field-item even"><a href="/tags/tashkent-international-investment-forum">Tashkent International Investment Forum</a></div></div></div> Wed, 11 Jun 2025 12:38:26 +0000 owen.bennett 2604152 at /node/2604122/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Wed, 2025-06-11 10:44</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> CALGARY: Oil demand growth will remain robust over the next two and a half decades as the world population grows, OPEC Secretary General Haitham Al-Ghais has said.</p> <p> The organization expects a 24 percent increase in the world’s energy needs between now and 2050, with oil demand surpassing 120 million barrels per day over that time period.</p> <p> That estimate is in line with the group’s 2024 World Oil Outlook.</p> <p> “There is no peak in oil demand on the horizon,” Al-Ghais said, speaking at the Global Energy Show in Calgary, Alberta.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/11/4610799-1258675248.jpg" width="5000" height="3798" alt="" title="OPEC Secretary General Haitham Al-Ghais speaking at the Global Energy Show in Calgary, Alberta. Jeff McIntosh/The Canadian Press via AP" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/category/tags/opec">OPEC</a></div><div class="field-item odd"><a href="/tags/haitham-al-ghais">Haitham Al-Ghais</a></div></div></div> Wed, 11 Jun 2025 07:53:30 +0000 owen.bennett 2604122 at /node/2604118/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Wed, 2025-06-11 10:03</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> LONDON: Oil prices rose to a seven-week high on Wednesday as markets assessed the outcome of US-China trade negotiations, while pessimism over US-Iran nuclear talks also provided support.</p> <p> Brent crude futures were up 82 cents, or 1.2 percent, to $67.69 a barrel at 1:28 p.m. Saudi time, while US West Texas Intermediate crude was up 96 cents, or 1.5 percent, to $65.94.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/11/4610789-2065441937.jpg" width="724" height="483" alt="" title="Brent crude futures were up 82 cents, or 1.2 percent, to $67.69 a barrel at 1:28 p.m. Saudi time. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-prices">oil prices</a></div><div class="field-item odd"><a href="/tags/oil-updates">oil updates</a></div></div></div> <span class="label abs-el uppercase update"> Update </span> Wed, 11 Jun 2025 07:10:13 +0000 owen.bennett 2604118 at /node/2604007/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2025-06-10 11:07</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> LONDON: Oil prices extended gains on Tuesday, buoyed by US-China trade talks and a dip in ����ֱ��n crude supply to China.<br /> Brent crude futures rose 23 cents, or 0.3 percent, to $67.27 a barrel by 03:31 p.m. Saudi time, hovering near their highest since April 28.<br /> US West Texas Intermediate crude was up 17 cents, or about 0.3 percent, at $65.46, near highs reached on April 4.<br /></p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/10/4610488-1594593243.jpg" width="1000" height="668" alt="" title="Brent crude futures rose 23 cents, or 0.3 percent, to $67.27 a barrel by 03:31 p.m. Saudi time, hovering near their highest since April 28. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/category/tags/oil">Oil</a></div><div class="field-item odd"><a href="/category/tags/opec">OPEC</a></div><div class="field-item even"><a href="/tags/oil-updates%C2%A0">Oil Updates </a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div><div class="field-item even"><a href="/tags/saudi-aramco">Saudi Aramco</a></div></div></div> Tue, 10 Jun 2025 08:09:54 +0000 ameen.syed 2604007 at /node/2603909/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Mon, 2025-06-09 10:30</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> LONDON: Oil prices were little changed on Monday as investors awaited US-China trade talks in London in the hope that a deal could boost the global economic outlook and subsequently fuel demand.<br /> Brent crude futures gained 4 cents to $66.51 a barrel by 11:40 a.m. Saudi time, while US West Texas Intermediate crude lost 1 cent to $64.57.<br /> Brent rose 4 percent last week and WTI 6.2 percent as the prospect of a US-China trade deal boosted risk appetite for some investors.<br /></p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/09/4610198-818113335.jpg" width="1000" height="667" alt="" title="Brent crude futures gained 4 cents to $66.51 a barrel by 11:40 a.m. Saudi time. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates%C2%A0">Oil Updates </a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> Mon, 09 Jun 2025 07:40:14 +0000 sarah.glubb 2603909 at /node/2603823/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/miguel-hadchity">Miguel Hadchity</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sun, 2025-06-08 13:02</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Gulf Cooperation Council countries have outperformed the global average in the 2024 Carbon Circular Economy Index, scoring 41.5 points, latest data showed.</p> <p> Released by the Gulf Statistical Center, the index serves as an assessment tool to evaluate the progress of 125 nations toward achieving net-zero emissions through a balanced approach that incorporates mitigation technologies and enabling tools. </p> <p> It also measures their transition to a carbon-neutral future based on circular economy principles, the Oman News Agency reported. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/08/4609929-2142346647.jpg" width="1000" height="446" alt="" title="The GCC’s performance highlights its growing commitment to sustainable energy and carbon reduction strategies. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/carbon-circular-economy-index">Carbon Circular Economy Index</a></div><div class="field-item odd"><a href="/tags/gulf-statistical-center">Gulf Statistical Center</a></div><div class="field-item even"><a href="/tags/circular-economy">circular economy</a></div><div class="field-item odd"><a href="/tags/green-and-blue">Green And Blue</a></div></div></div> Sun, 08 Jun 2025 10:05:55 +0000 owen.bennett 2603823 at /node/2603584/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Fri, 2025-06-06 09:10</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> HOUSTON, June 6 : Brent crude rose more than $1 a barrel on Friday and oil prices were on track for their first weekly gain in three weeks after US President Donald Trump and Chinese leader Xi Jinping resumed trade talks, raising hopes for growth and stronger demand in the world’s two largest economies.</p> <p> Brent crude futures gained $1.50, or 1.61 percent, to $66.39 a barrel by 4:49 p.m. Saudi time. US West Texas Intermediate crude climbed $1.02, or 1.61 percent, to $64.39.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/06/4609221-1856947279.jpg" width="1000" height="667" alt="" title="Brent crude futures gained $1.50, or 1.61 percent, to $66.39 a barrel by 4:49 p.m. Saudi time. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates">oil updates</a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> <span class="label abs-el uppercase update"> Update </span> Fri, 06 Jun 2025 06:21:38 +0000 owen.bennett 2603584 at /node/2603469/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nirmal-narayanan">Nirmal Narayanan</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2025-06-05 13:29</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: The power capacity of the UAE is expected to reach 79.1 gigawatts by 2035, registering a compound annual growth rate of 3.4 percent from 2024, according to a report.</p> <p> Findings from data analytics and consulting company GlobalData stated that annual power generation in the Emirates is expected to increase at a CAGR of 3.8 percent from 2024 to 2035, reaching 281.3 terawatt-hours. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/05/4608908-632909495.jpg" width="1000" height="668" alt="" title="Boosting power capacity is essential for the UAE. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/energy-0">energy</a></div><div class="field-item odd"><a href="/tags/uae-energy">UAE Energy</a></div></div></div> Thu, 05 Jun 2025 10:38:13 +0000 owen.bennett 2603469 at /node/2603467/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nirmal-narayanan">Nirmal Narayanan</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2025-06-05 12:36</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Energy investment globally is projected to hit a record $3.3 trillion in 2025, driven by a surge in clean power spending amid economic uncertainty and geopolitical tensions, according to an analysis. </p> <p> In its latest report, the International Energy Agency said that technologies in the sector, including renewables, nuclear, and storage, are set to attract $2.2 trillion in investment. </p> <p> Investments in oil, natural gas and coal are set to reach $1.1 trillion this year. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/05/4608903-814718618.jpg" width="1000" height="527" alt="" title="Investment in solar is expected to reach $450 billion in 2025. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/international-energy-agency-iea">International Energy Agency (IEA)</a></div><div class="field-item odd"><a href="/tags/green-and-blue">Green And Blue</a></div><div class="field-item even"><a href="/tags/renewable-energy">Renewable Energy</a></div></div></div> Thu, 05 Jun 2025 10:15:16 +0000 owen.bennett 2603467 at /node/2603453/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2025-06-05 10:50</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> TOKYO/SINGAPORE: Oil edged lower on Thursday after a build in US gasoline and diesel inventories and cuts to ����ֱ��’s July prices for Asian crude buyers, with global economic uncertainty weighing on prices as well.</p> <p> Brent crude futures fell 1 cent to $64.85 a barrel at 9:30 a.m. Saudi time. US West Texas Intermediate crude lost 11 cents, or 0.2 percent, dropping to $62.74 a barrel.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/05/4608870-64861798.jpg" width="1000" height="675" alt="" title="Brent crude futures fell 1 cent to $64.85 a barrel at 9:30 a.m. Saudi time. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates">oil updates</a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> Thu, 05 Jun 2025 07:54:41 +0000 owen.bennett 2603453 at /node/2603372/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/rbitem-author/arab-news">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Wed, 2025-06-04 18:08</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Saudi Aramco has slashed its official selling price for crude oil destined for Asia in July, the company confirmed in an official statement on Wednesday.</p> <p> The state-owned oil giant cut the price of its benchmark Arab Light crude by $0.20, setting it at $1.20 per barrel above the average of Oman and Dubai crude prices.</p> <p> Saudi Aramco prices its crude oil across five density-based grades: Super Light (greater than 40), Arab Extra Light (36-40), Arab Light (32-36), Arab Medium (29-32), and Arab Heavy (below 29).</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/04/4608636-1287654523.jpg" width="1152" height="640" alt="The state-owned oil giant cut the price of its benchmark Arab Light crude by $0.20, setting it at $1.20 per barrel above the average of Oman and Dubai crude prices." title="The state-owned oil giant cut the price of its benchmark Arab Light crude by $0.20, setting it at $1.20 per barrel above the average of Oman and Dubai crude prices." /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/category/tags/oil">Oil</a></div><div class="field-item odd"><a href="/tags/arab-light">arab light</a></div><div class="field-item even"><a href="/tags/crude">crude</a></div><div class="field-item odd"><a href="/tags/osp">OSP</a></div></div></div> Wed, 04 Jun 2025 15:10:04 +0000 shahrukh.jamshed 2603372 at /node/2603311/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Wed, 2025-06-04 10:34</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> LONDON: Oil prices held steady on Wednesday amid global trade tensions and as ongoing OPEC+ output increases were offset by a hit to Canadian supply from wildfires.</p> <p> Brent crude futures inched 6 cents higher, or 0.1 percent, to $65.69 a barrel by 3:03 p.m. Saudi time. US West Texas Intermediate crude was 8 cents higher, also around 0.1 percent, at $63.49.</p> <p> Plans by OPEC+ producers to again increase output by 411,000 barrels per day (bpd) in July were weighing on the market, said Janiv Shah, vice president of oil commodity markets analysis at Rystad Energy.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2025/06/04/4608470-1460319784.jpg" width="1000" height="667" alt="" title="Brent crude futures inched 6 cents higher, or 0.1 percent, to $65.69 a barrel by 3:03 p.m. Saudi time. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/energy">Energy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/oil-updates">oil updates</a></div><div class="field-item odd"><a href="/tags/oil-prices">oil prices</a></div></div></div> <span class="label abs-el uppercase update"> Update </span> Wed, 04 Jun 2025 07:38:06 +0000 owen.bennett 2603311 at