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HuaweiCommodities mostly rose last week as traders kept watch on simmering tensions in Ukraine, with star performer nickel striking a two-year peak on the back of supply woes.
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As many as three companies in Oman are this year expected to offer shares to the public as the Muscat Securities Market seeks to build on government plans to sell state-owned assets, the bourse’s director general said.
Oil inventories in advanced economies tumbled in the fourth quarter by the most since 1999 because of “surprising robustness” of demand in the US and other developed nations, the International Energy Agency, or IEA, said.
Benchmark US crude for March delivery was down 17 cents to $97.32 a barrel at 0600 GMT on the New York Mercantile Exchange. The contract fell 74 cents on Friday to close at $97.49 a barrel.
Iran is working full throttle to develop its South Pars natural gas field, the world’s largest, amid hopes of sanctions relief and the return of Western oil majors.
Global oil demand will rise more quickly this year as economic growth in industrialised countries accelerates, absorbing more supply even as US shale oil production reaches record highs, the West’s energy watchdog said on Tuesday.
As part of Mubadala Petroleum’s recent exploration success and expanding interests to develop its position offshore in Malaysia, the company has signed an agreement with Shell to swap equity in two exploration blocks in offshore Malaysia.
The Dubai Mercantile Exchange (DME) ended 2013 on a record high with its flagship DME Oman Crude Oil Futures contract posting year-on-year average daily volume trading growth of 36 per cent with 6,355 lots per day.
Six major macro themes dominated the oil market in 2013.