Just as the global oil markets slump, tensions in the Gulf are threatening to disrupt supply further, keeping traders and governments on edge, Saudi Aramco’s chief executive officer has warned that the impact of this on the global oil markets will be “catastrophic”. In his first public remarks since the conflict disrupted Middle East energy…
Saudi Aramco jumped the most since May 2023 on Sunday as the Iran war entered its second week, prompting supply disruptions that may send oil prices higher when global markets reopen. Shares of the state-backed oil giant climbed as much as 4.9% intraday in Riyadh, on the first day of trading for the stock since…
Saudi Arabia’s state oil company Saudi Aramco has temporarily closed its largest refinery ‘Ras Tanura’ today. This decision was taken after an attempted drone attack, which caused a small fire in the area. According to the Saudi Defense Ministry and industry sources, the situation is now under control, there were no deaths and the fire…
Heightened geopolitical tensions rattled investors across the Gulf on Sunday, sending most stocks lower and forcing Boursa Kuwait to suspend trading until further notice, reuters reported. In a rare move, the exchange said it was halting all trading activities due to the “exceptional circumstances” the country is facing. The strong market reaction followed coordinated US…
