iPhone | iPad
Android
Huawei
Sheikh Hamdan took to social media platform X to make the announcement on World Teachers' Day
KT APPDOWNLOAD
Oil drops on worse than feared rise in US fuel stocks
The decline extended losses from Wednesday on uncertainty about Russia's commitment to deep oil production cuts in the lead-up to a June 9 meeting of the Organization of the Petroleum Exporting Countries and its allies, dubbed OPEC+.
US West Texas Intermediate (WTI) crude futures fell as much as 5% to a low of $31.14 and were down 3%, or 97 cents, at $31.84 at 0019 GMT.
Brent crude futures last traded down 2.3%, or 78 cents, at $33.96.
Data from the American Petroleum Institute industry group showed crude stocks rose by 8.7 million barrels in the week to May 22, compared with analysts' expectations for a draw of 1.9 million barrels.
Gasoline stocks rose by 1.1 million barrels, more than 10 times the build analysts had expected, and stocks of diesel and heating oil rose by 6.9 million barrels, nearly four times as much as anticipated.
"It just indicates that demand recovery is progressing but it's not strong enough yet to be really self-sustaining," National Australia Bank's head of commodity research, Lachlan Shaw said.
The market will be looking to see if data from the US Energy Information Administration later on Thursday matches API.
Shaw said crude was also weaker amid scepticism about the tightness of Russia's relationship with Saudi Arabia, even after Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman agreed on further "close coordination" on oil output cuts.
With WTI holding above $30, OPEC+ will be closely watching to see whether U.S. oil shale oil producers who have breakeven prices in the high $20 and low $30 dollar range step up production.
"There is a risk that we see those wells that have been shut in start to reverse and we see more supply return to the market," Shaw said.
More news from
These goods, which were seized by Customs, can be examined at Dubai Airports, Terminal 3
He did not elaborate on the nature or timing of the response
The Ministry of Finance said that these amendments reflect its ongoing commitment to enhancing transparency within the overall tax regime
Ahmed is the third UAE player to make the cut in the AAC, following Dubai-born Rayhan Thomas in 2018, who finished runner-up, and Ahmad Skaik (UAE) in 2021
Travellers are also given discounts at different attractions and dining experiences across the city
Sheikh Mohamed was welcomed by Serbian President Aleksandar Vučić, along with other officials
Israel's airstrikes have prevented rescuers from reaching the site of a strike that targeted the group's anticipated leader Hashem Safieddine