Dubai

US stocks open sharply lower amid pressure on oil market

Oil prices rocket on slashed Saudi output

8:37 pm September 16, 2019

London: Brent crude surged by 20 per cent Monday — the biggest gain since the 1991 Gulf War — after weekend drone attacks on two Saudi oil facilities halved output in the world’s top crude exporter, fuelling fresh geopolitical and growth fears. WTI oil meanwhile soared 15 percent, also after President Donald Trump warned that […]

Pentagon sending reinforcements to Gulf following attacks in Saudi

Saudi oil attack sends Wall Street into the red

8:33 pm September 16, 2019

New York: Wall Street sank into the red on Monday, after weekend drone attacks knocked out much of Saudi Arabia’s oil production and sent crude prices shooting higher. The lower open threatened to break an eight-day winning streak for the benchmark Dow Jones Industrial Average, with the major US stock indices just below fresh record […]

Europeans see last chance for Iran-US meeting

Trump may meet Iran leader despite Saudi attacks: White House

10:12 pm September 15, 2019

Washington : The White House said on Sunday President Donald Trump may still meet his Iranian counterpart Hassan Rouhani, despite the US accusing Iran of masterminding drone attacks on Saudi Arabian oil facilities. White House counsellor Kellyanne Conway did not rule out the possibility in a television interview broadcast as Saudi Arabia raced to restart […]

Iran denies successful cyber attacks on oil sector

Saudi races to restore oil supply after strike blamed on Iran

10:02 pm September 15, 2019

Riyadh : Saudi Arabia raced on Sunday to restart operations at oil plants hit by drone attacks which slashed its production by half, as Iran dismissed US claims it was behind the assault. The Tehran-backed Huthi rebels in neighbouring Yemen, where a Saudi-led coalition is bogged down in a five-year war, have claimed Saturday’s strikes […]

Saudi Arabia: Drone attacks knocked out half its oil supply

2:23 pm September 15, 2019

Dubai: Yemen’s Houthi rebels launched drone attacks on the world’s largest oil processing facility in Saudi Arabia and a major oil field Saturday, sparking huge fires and halting about half of the supplies from the world’s largest exporter of oil. The attacks were the latest of many drone assaults on the kingdom’s oil infrastructure in […]