Despite challenges from regional tensions and fluctuating oil prices, sectors like F&B and pharma see notable increases, showcasing the diverse impacts on regional markets.

Amid market volatility influenced by geopolitical tensions and fluctuating oil prices, pharma, insurance, and healthcare indices led with substantial gains in 2023.

The Israel-Hamas conflict not only threatens regional stability but also poses significant economic challenges for MENA nations, says Fitch Ratings.

Riyadh, Saudi Arabia - Collaboration between Saudi Arabia and Russia to drive OPEC+ members toward output cuts has resulted in a 2.29% surge in crude oil prices. Despite these global efforts, US output continued at a high of over 13 million barrels per day, contributing to a surplus in the...

World stock markets have made robust gains in recent weeks on hopes that the US central bank had finished with hiking rates and could cut borrowing costs next year as inflation cools. While Wall Street's main indices spent some time in the red, they moved higher as the yields on US...

While the energy and commodity sectors faced declines due to falling prices, the banking and telecom sectors demonstrated remarkable resilience, says a latest report.

Middle East tensions likely to spur a mild global recession, with oil potentially hitting $120-$150 per barrel, says a latest report by Oxford Economics.

Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact of geopolitics on energy security.

The US tightening sanctions on Iranian oil could have a negative impact on individual and institutional investment portfolios by disrupting the energy sector, contributing to inflationary pressures, and intensifying geopolitical risks. You need to be aware of the risks – but also the opportunities, he adds.

New York, United States - Oil prices experienced a 3% surge on Friday, reaching a one-week high, driven by escalating tensions in the Middle East, raising concerns about potential disruptions in global crude supplies, Reuters reported. Brent crude futures increased by $2.55, or 2.9%, settling at $90.48 a barrel, while...

Tourism and entertainment sectors are likely to help Saudi Arabia's non-oil GDP grow robustly in the coming years, despite a 6.5% drop in oil production, says a report.

With potential spikes in oil prices and uncertainty surrounding major projects like the IMEC, the world faces a complex economic future shaped by Middle Eastern tensions.

Geopolitical tensions, such as the Russian-Ukrainian war and the trade war between the United States and China, have sent shockwaves through the oil market, says an expert.

Despite the drop, BP hiked dividend.

Kuwait recorded its first surplus in nine years for the 2022-2023 fiscal year which ended in March, the finance ministry said, crediting last year's surge in oil prices. The Gulf emirate, whose revenues rely heavily on hydrocarbons, closed its fiscal balance with a surplus of $21 billion, the ministry said.

The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain a key source for its revenue, say experts.

The Kingdom's non-oil private sector expanded sharply in June as output and new orders rose at accelerated, multi-year record rates, indicating strong growth rate.

Companies like ADNOC, Saudi sovereign fund, and Niu are making significant strides as the two Gulf countries seek to diversify their economies and capitalize on high oil prices.

The Kingdom has the highest economic growth among the G20 countries in 2022, driven by strong oil production and non-oil sector growth, says the latest IMF report.

The Saudi company posts net profit of $31.9bn, down 19.25 percent from a year earlier.

Traders are expected to scramble to incorporate changes in sentiment following last week's data, while keeping an eye on the publication of global data including US company earnings and GDP figures, said an expert. Oil prices could come under additional pressure due to demand concerns and approaching central bank meetings,...

Equity markets rose, with Paris hitting a record-high, as investors reacted positively to easing inflation, recession concerns and some strong earnings. The dollar hit a year-low against the euro after official data this week showed high inflation slowing in the United States, fanning hopes the Federal Reserve would soon stop...

Brent crude futures were down 74 cents, or 0.8 percent, to $85.92 a barrel at 0710 GMT, while West Texas Intermediate crude was down 61 cents, or 0.8%, to $79.07 a barrel.

Brent fell 36 cents, or 0.4 percent, to $84.92 a barrel, while US West Texas Intermediate crude fell 21 cents, or 0.3 percent.

Brent crude rose 50 cents, or 0.6%, to $83.17 per barrel by 0135 GMT, while US West Texas Intermediate crude also rose 50 cents, or 0.7%, to $77.91 per barrel.

Brent crude futures gained 59 cents to $78.43 a barrel, while US West Texas Intermediate crude futures rose 69 cents to $73.53 a barrel.

The surplus is mainly due to control over expenditures and the rise in revenues with the recovery in oil prices.

Investors are now looking ahead to the release of US jobs data at the end of the week, which could provide clues about the Fed's next moves, while speeches by central bank boss Jerome Powell and other key policymakers will also be pored over.

The "categorical denial" has come after the Wall Street Journal reported on Monday that Saudi Arabia, which co-leads the OPEC+ group along with Russia, and other members were considering an "increase of up to 500,000 barrels a day". The next OPEC+ meeting is scheduled for December 4.

The TOP CEO Conference, held in Dubai in Q2, discussed several burning global and regional issues of the time. It may help policymakers devise better strategies.

Oil prices had slid in recent weeks back to the levels before the war in Ukraine on concerns of a global slowdown, but have surged in recent days on expectations of the production cut. The main international crude contract, Brent, jumped two percent following the decision before finishing at $93.37...

The jump comes after both main contracts suffered hefty losses in recent months on demand fears caused by an expected recession in major economies.

Rising oil prices, which have proved to be a windfall for governments and companies in the upstream sector, has strengthened balance sheets of the region's banking sector.

The recent drop in oil prices reflects global concern over an economic slowdown and “masks physical market fundamentals," says OPEC secretary general.

Oil prices slipped in Asian trade, with both main contracts down around two percent as the stuttering Chinese economic recovery added to concerns about demand.

The country raised the price of a litre of 80-octance gasoline from EGP7.5 to EGP8 (US$0.424), a litre of 92-octance from EGP8.75 to EGP9.25 (US$0.49).

Surge in oil prices benefited the world's most valuable company.

The Saudi Arabian national petroleum and natural gas company, billed as the largest oil producing company in the world, was valued at $2.42 trillion based on the price of its shares at close of market. Apple, meanwhile, has seen its share price drop over the past month and was valued...

Asian markets were flat on Wednesday as oil began clawing its way back up from a big drop after the International Monetary Fund downgraded its global growth forecast for 2022. The IMF lowered its outlook to 3.6 percent -- a .08 percent slash from its previous estimate released in January...

Prices of crude oil have skyrocketed across the world, thanks to the Russian invasion of Ukraine and the subsequent sanctions placed on Moscow.

President Joe Biden will announce later on Thursday the release of a record million barrels of oil a day for about 180 days from US strategic stockpiles.

For the second time since the global financial crisis, the Middle East has surpassed Europe in terms of IPOs as regional investors seek liquidity from increased oil prices.

Oil prices soared Monday as a weekend attack on Saudi facilities and discussions among European Union members over banning Russian crude raised concerns about global supplies. Top producer Saudi Arabia warned that Yemeni rebel attacks on the kingdom's oil facilities pose a "direct threat" to global supplies, while Baltic states...

The amplifying factors include sanctions against Russia’s aviation sector, which cast a global pall over the aviation industry.

Oil prices plunged on Tuesday as China, a major energy consumer, placed nearly 30 million people under COVID lockdown, and Hong Kong and Chinese mainland stock markets dove, while Wall Street stocks rallied. Brent oil futures finished under $100 a barrel for the first time in nearly three weeks, reflecting...

However, Gulf countries have an interest in acting in coordination — both within OPEC, and with Russia-led allies in the OPEC+ group — to avoid a price war and keep control over the market.

Brent North Sea crude oil for May delivery reached $139.13 shortly after electronic trading opened around 2300 GMT on Sunday.

Since Russia invaded, almost 80,000 Ukrainians have returned to fight Russia, leaving industries short of labor.

Saudi energy giant Aramco's shares rose to a record high on Wednesday amid a surge in global oil prices following Russia's invasion of Ukraine. The Gulf kingdom -- the world's top crude exporter -- has remained the firm's majority shareholder since a December 11, 2019 listing.

The squeeze on real incomes within the region due to higher inflation may depress regional trade flows. The situation may worsen further if the global central banks' attempts to control rising consumer prices, which will ultimately dampen global economic activity.