MbS made the remarks at an annual speech to the advisory Shura Council, which he gave on behalf of his father, King Salman
Benchmark crude for June delivery was down 28 cents to $96.43 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract gained 69 cents to close at $96.71 on Monday.
On Wednesday, Fed chairman Ben Bernanke will appear before Congress and the central bank will release minutes of its most recent policy meeting. Traders will be looking for hints on what the Fed might be preparing to do in light of recent data that has pointed toward a sustained economic recovery.
There is ongoing speculation that the Fed might want to scale back or modify its monetary policy and its massive, $85 billion-a-month program of bond purchases intended to keep interest rates low and prop up the recovery.
“We hear some testimony from Big Ben Bernanke this week and we can only think that he’s going to stick to his mantra. Meaning that he’s status quo; the economy is moving along well, we would like to see it move faster, but we’re doing all we can,” said Carl Larry of Oil Outlooks and Opinions in an email commentary.
Brent crude, a benchmark for many international oil varieties, fell 50 cents to $104.30 a barrel on the ICE Futures exchange in London.
MbS made the remarks at an annual speech to the advisory Shura Council, which he gave on behalf of his father, King Salman
His visit to Cairo aimed to salvage stalled negotiations mediated by Egypt, Qatar and the United States to end the conflict
The group accused Israel, which has so far refused to comment, as US denies involvement
Hundreds of pagers belonging to the armed group exploded in Lebanon on Tuesday, killed 12 people, including two children, and wounded up to 2,800 others
They view it as a pivotal move toward fostering inclusivity and diversity in corporate structures
Israel has not yet commented on the explosions
The meeting saw engaging discussions on Sinomach’s strategic initiatives and ongoing projects in the region