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September 5, 2024

Oil Stable as Traders Weigh Weak Demand

Oil was trying to hold its line in early trade today after an overnight selloff, as traders come to grips with weak need along with a possible delay to more supply going into the market next month.

Brent unrefined futures for November increased 9 cen…

Dollar Falls on Bolstered Expectations of Supersized US Rate Cut

The dollar continued to decline today as renewed concerns over the US economy’s growth outlook bolstered expectations of a supersized rate cut from the Federal Reserve this month (September 2024).

The dollar index, which measures the performance of t…

OAPEC highlights member states’ potential in sustainable energy

Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC) Jamal Al-Loughani said on Thursday that Arab countries have valuable opportunities to become global leaders in the production and export of sustainable and low-carbon…

European Stocks Fall for Fourth Straight Session

European stocks fell for the fourth straight session at the start of trading today, with investors awaiting economic data from the euro zone, as well as jobs data in the United States, for indications on the path of US interest rate cuts.

The pan-Eur…

Gold Prices Rise Again

Gold prices rose today after recent data boosted bets on a major US interest rate cut this month.

Spot gold rose 0.5 percent to USD 2,506 an ounce, while US gold futures rose 0.4 percent to USD 2,536.10.

Among other precious metals, spot silver rose…

Environment Min., Colombian Amb. discuss bilateral cooperation

Egyptian Environment Minister Yasmine Fouad has discussed with Colombia’s Ambassador to Egypt Ana Milena Muñoz de Gaviria ways to foster bilateral co-operation between Cairo and Bogotá.

The diplomat said her country is keen to ensure Egypt’s particip…

20 Migrants Missing after Boat Capsized off Italy

At least 20 migrants were missing in the Mediterranean after their vessel sank off the Italian island of Lampedusa, the office of the United Nations High Commissioner for Refugees (UNHCR) in Italy and Italian coastguard announced.

Twenty people are r…