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oil prices

March 9th, 2026 - 07:18 GMT

Sally Shakkour

Oil prices increase to $118.21 per barrel, Gold prices fall

ALBAWABA - The price of the main U.S. benchmark for oil surged over 30 percent on Monday amid the escalation in the Middle East and Iran's closure of the Strait of Hormuz. At 0230 GMT, West Texas Intermediate (WTI) increased by 30.04 percent reaching $118.21 per barrel, before easing slightly. In addition, Brent Crude was up by 27.54 at $118.22. The disruption of shipping traffic through the Strait of Hormuz ...

Most expats in the region agree that it is not necessary to speak Arabic to get by in everyday life, especially in Bahrain, Oman, and the UAE, where Arabic and English are the main business languages. (File photo)

August 30th, 2016 - 12:00 GMT

Bahrain ranks highest in the region for expat living: InterNations

Under the proposed scenario, the Iraqi government would be shipping about 150,000 barrels per day of oil through Iran that is being produced from the fields in Kirkuk. (File photo)

August 30th, 2016 - 11:08 GMT

Iraq plans sale of Kirkuk oil via Iran if negotiations with Kurds fail

Egypt's tire sales have not recovered despite a traditional uptick in purchases over the summer. (Pixabay)

August 30th, 2016 - 09:30 GMT

Prices up, sales down: Egypt's tire market hit by foreign currency woes

Integrating SMEs into the Expo is expected to further stimulate employment, strengthen existing industries, improve SME competitiveness and contribute to sustainable economic growth. (Expo 2020)

August 30th, 2016 - 08:30 GMT

Dubai Expo 2020 to award $1.36B in contracts to SMEs

Kuwait spent KD300m ($995.8m) for treatment of citizens abroad between January 1 and August 15, according to local reports. (File photo)

August 30th, 2016 - 07:30 GMT

Kuwait to cover $1.06B out of $497.9B of unpaid overseas hospital bills

Despite plans to close 100 US stores, Macy’s will be opening in Abu Dhabi in 2018. (Arabia Style)

August 30th, 2016 - 06:11 GMT

The department store is not dead, according to the Majid Al Futtaim Group

The IOCs' interest in the third Cypriot licensing round stems from Eni's major Zohr gas discovery in August 2015, in northern Egyptian waters about five miles from Cypriot waters. (Pexels)

August 30th, 2016 - 05:02 GMT

After Egypt's gas discovery, oil majors rush to bid for Cyprus' offshore blocks

Following laws to mandate Saudization in the telecoms sector, the ministry is expected to focus its efforts on the car sales and rentals sector. (File photo)

August 30th, 2016 - 04:30 GMT

Saudi Arabia targets charities in latest Saudization drive

Women make up just 26.7 per cent of all its oil and energy industry profiles, the lowest percentage among the industries examined. (Mena Herald)

August 29th, 2016 - 01:00 GMT

Breaking the glass ceiling in energy: Oil and gas sector struggling with gender equality

It takes approximately one year to drill, another year for appraisal, two to three years to hammer out a production plan and another two to three years for full production before Lebanon can begin exporting gas. (Shutterstock)

August 29th, 2016 - 12:00 GMT

Lebanon's gas production and export will take seven years after decrees passed

The government originally proposed the tax rate to be 14 per cent but agreed to comprise the rate by one per cent to meet the demands of MPs calling for a lower rate. (Wikimedia Commons)

August 29th, 2016 - 11:00 GMT

Egypt's lawmakers agree on 13 percent VAT rate

Queen Rania stressed that patience is essential in every field except in education, due to the fast pace of advancements with which Jordan must keep up. (Instagram/Queen Rania Al Abdullah)

August 29th, 2016 - 10:12 GMT

Jordan's Queen Rania presses for educational reform