MbS made the remarks at an annual speech to the advisory Shura Council, which he gave on behalf of his father, King Salman
mena9 hours ago
New York’s main contract, light sweet crude for delivery in April, gained 24 cents to $93.08 a barrel in the afternoon and Brent North Sea crude for delivery in April added 51 cents to $114.04.
“It is possible that we do have the bargain hunters looking to pick up oil at these levels,” said Jason Hughes, head of premium client management at IG Markets in Singapore.
Both contracts had tumbled more than $2 on Thursday in The United States as traders absorbed poor US jobs data, signs of weaker-than-expected US crude demand and a fall in eurozone business activity.
The US Labor Department said initial jobless claims rose to 362,000 in the week ending February 16, more than the analyst estimate of 358,000.
US crude inventories also rose by 4.1 million barrels in the week ending February 15, data released by the Department of Energy Thursday showed.
That was more than double market expectations for a gain of 1.7 million barrels, according to analysts polled by Dow Jones Newswires.
An increase in crude inventories puts a downward pressure on oil prices.
MbS made the remarks at an annual speech to the advisory Shura Council, which he gave on behalf of his father, King Salman
mena9 hours ago
His visit to Cairo aimed to salvage stalled negotiations mediated by Egypt, Qatar and the United States to end the conflict
world9 hours ago
The group accused Israel, which has so far refused to comment, as US denies involvement
mena10 hours ago
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
world10 hours ago
They view it as a pivotal move toward fostering inclusivity and diversity in corporate structures
uae10 hours ago
Israel has not yet commented on the explosions
europe10 hours ago
The meeting saw engaging discussions on Sinomach’s strategic initiatives and ongoing projects in the region
economy11 hours ago