Category: UAE

Oil majors slash 2020 spending by 20% after prices slump

Saudi Arabia may re-route tankers if U.S. imposes crude import ban

By Administrator_India Capital Sands Saudi Arabia is exploring re-routing millions of barrels of oil on board tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping, and trade sources said. Some 40 million barrels of Saudi oil are on their way to the United States and due to arrive in […]

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Pound on Longest Losing Streak Since May on BOE Easing Talk

By Ritu, Capital Sands The pound extended its decline to the longest run in eight months as speculation of an imminent Bank of England interest-rate cut increased. Sterling fell as much as 0.3% against the dollar to $1.2955. Credit Agricole SA pointed out that more than half of the members of the bank’s Monetary Policy Committee are ready to support a reduction […]

Oil majors slash 2020 spending by 20% after prices slump

Oil Prices Up After Iran Attacks Two U.S.-Iraqi Airbases, Sparking More Conflicts

By Ritu, Capital Sands Oil prices jumped on Wednesday in Asia after Iran attacked two U.S.-Iraqi airbases in response to a U.S. airstrike that killed a top Iranian general last week, sparking worries of intensifying conflict in the Middle East. Overnight, the Pentagon said missile strikes were launched from Iran and targeted the Ayn al-Asad base in western Iraq and […]

Oil hits three-month highs as strong U.S. consumer spending underpins growth hopes

By Ritu, Capital Sands Oil prices rose on Friday, hitting three-month highs after data showed record online spending by U.S. consumers, stoking faith in the world’s no. 1 economy even before the hoped-for end to the trade war between Washington and Beijing. Brent crude futures were up 6 cents, or 0.1%, at $67.98 a barrel , after rising to as […]

Oil hovers near three-month high on trade optimism, supply cuts

By Ritu, Capital Sands Oil prices trickled a fraction lower on Tuesday but remained near a three-month high as investors kept the faith with hopes that a fully fledged U.S.-China trade deal is in the pipeline and set to stoke oil demand in the world’s biggest economies. Brent crude oil futures had slipped by three cents to $65.31 a barrel […]

Pound Gains on Brexit Optimism as Focus Shifts to Trade Talks

By Ritu, Capital Sands Want the lowdown on European markets? In your inbox before the open, every day. Sign up here. The pound rallied for a second day amid optimism a speedy resolution to the Brexit deadlock is in store after the Conservative Party’s election victory. Sterling advanced against all its major peers after Chief Secretary to the Treasury Rishi Sunak said […]

Brexit relief for UK economy might not last long

By Ritu, Capital Sands Britain’s economy will cast off some of the Brexit uncertainty that has held it back since 2016 after Prime Minister Boris Johnson’s election triumph, but the risk remains of another “cliff-edge” showdown with Brussels in a year’s time. With Britain’s exit from the European Union on Jan. 31 now a foregone conclusion, the question for investors […]

Sterling sparkles after election poll, yuan up on trade deal reports

By Ritu Capital Sands The pound rose to a three-and-a-half year high versus the euro and the highest in more than a year versus the dollar after exit polls suggested a win for the Conservatives, which should help ensure the UK’s smooth exit from the European Union. The Chinese yuan rose in offshore trade and the Japanese yen fell after a source […]

StockBeat: Dovish Fed, Dominant Tories Push Europe Markets Higher

By Ritu, Capital Sands European stocks found their feet again on Wednesday after the Federal Reserve signalled that it’s likely to remain on hold throughout next year, seemingly convinced that historically low jobless rates won’t create enough inflationary pressure to warrant a rate hike. By 5 AM ET (1000 GMT), the benchmark Stoxx 600 was up 0.3% at 407.50, while the FTSE MIB was […]