Saudi Aramco CEO Amin Nasser warned that global oil stockpiles have fallen to alarmingly low levels, leaving energy markets vulnerable to further supply disruptions unless the Strait of Hormuz fully reopens.
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Traders sold off after oil hit $111 per barrel this morning, an AI IPO in South Korea lost 30% on its debut, and the yield on the French 10-year bond hit 4.94%, a level it has not seen since 2002.
Saudi Arabia's benchmark Tadawul All Share Index (TASI) ended Sunday's session up 0.82 percent at 10,189 points, with trading turnover reaching SAR 2.3 billion ($613 million). The index hit an intraday high of 10,215 points and a low of 10,107 points.
NEW DELHI/SINGAPORE: Oil prices edged lower on Monday as rising Middle East crude exports and a release of oil stocks by the Group of Seven nations boosted supplies, offsetting concerns about further damage to Gulf oil infrastructure amid the US-Israeli war…
Saudi Aramco's financial results and Saudi Arabia's third-quarter budget performance report, released on the same day, revealed a divergence between the company's rising profits and declining government oil revenue recorded in the state budget.
