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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 ...

Iran’s oil exports are currently close to pre-sanction levels of around 2.5 million barrels per day. (Iberorusa)

June 13th, 2016 - 11:00 GMT

European companies line up for Iranian oil deals

EFG Hermes sold 2,700,000 of its shares to CIH Bahrain International Holding, a Lebanon-registered company controlled by the heirs of late Saudi billionaire Khaled bin Mahfouz. (File photo)

June 13th, 2016 - 10:00 GMT

Egypt's EFG Hermes’ shareholders to receive $121.6M from sale of Credit Libanais

The GERD has strained relations between Ethiopia and Egypt since construction began in 2011, with relations reaching their lowest point in 2013. (File photo)

June 13th, 2016 - 09:00 GMT

Renaissance Dam filling process to begin in July 2017, before impact study complete

Al Bawaba

June 13th, 2016 - 07:00 GMT

Saudi Electricity woos international partners for two solar plants

Destination Asia Group is an integrated travel management company operating in 11 Asian countries. (Global Travel Group)

June 13th, 2016 - 05:00 GMT

Emirates' dnata moves into Asian travel market with stake in Destination Asia Group

An explosive device hidden in plants outside BLOM bank headquarters in the Verdun neighborhood went off shortly after 8 pm on a mainly deserted street last night. (AFP/Anwar Amro)

June 13th, 2016 - 04:22 GMT

Beirut's BLOM Bank bombing keeps spotlight on Hezbollah funding debate

SaudiGulf is initially expected to launch daily flights to Jeddah and Riyadh before expanding to Abha, Madinah, Gassim and Tabuk. (RIyadh Vision)

June 12th, 2016 - 12:00 GMT

New SaudiGulf Airlines set to begin domestic flights

The six member GCC bloc has been debating a common value added tax, which is a tax levied on the import and supply of goods and services at each production and distribution stage, for over a decade. (File photo)

June 12th, 2016 - 11:00 GMT

VAT in GCC: Challenges ahead of 2018 implementation

Meydan has multiple projects in various stages of development, including the signature mixed-use Meydan One master-development and partnership in the Dubai Canal extension. (Meydan)

June 12th, 2016 - 10:00 GMT

Dubai's Meydan Group secures $270M in Islamic financing

Oman is against introducing income tax for expats due to pressures such as the recent removal of fuel subsidies, a factor that has added to inflation, and the introduction of VAT . (Shutterstock)

June 12th, 2016 - 09:00 GMT

Expats' income in Oman will remain tax-free: Ministry of Manpower

A WFP ship bringing fuel supplies to Aden in July 2015. (Twitter)

June 12th, 2016 - 07:00 GMT

Yemen: Respite for Aden's fuel crisis as power station refueled

The Labour Ministry said the rise in child employment was linked to the influx of Syrian refugees into the Kingdom. (UNHCR)

June 12th, 2016 - 06:00 GMT

Child labor in Jordan has tripled over last ten years