Middle East

China's Transport Ministry announced on Friday that it will impose port fees for U.S. owned, operated, flagged, or built vessels starting on Tuesday, as a response to U.S. fees on ships with ties to China. The U.S. president Donald Trump announced that he would increase tariffs on Chinese imports to the U.S. by 100%, and implement export controls on key software as a retaliation to China's export restrictions on rare earth minerals. Analysts said that there are only a few U.S. built or U.S. flagged vessels doing international trade. But China will ensnare even more vessels by applying levies on...

Market sources say that the price of Urals crude remained stable on Thursday, despite a thin trade. However, a rise in freight rates from Russian ports to Asia may affect its differentials with Brent dated, they said. The EU's sanctions chief said that while sanctions are hurting Russia's economy, President Donald Trump keeps his allies guessing as to whether he'll sign off on additional measures. This is despite Washington's participation in the G7 deal to coordinate actions against the Kremlin. PLATTS WINDOW There were no bids or offerings reported on Thursday in the Platts Window for Urals, Azeri BTC Blend...

Two sources familiar with this matter have confirmed that Abu Dhabi's sovereign fund ADQ is a possible suitor for the sale of Catania Airport's operator, in Sicily. The fund has also expressed an initial interest in the asset. Sources, who spoke on condition of anonymity, said that the sale process had not yet begun. However, interest is growing in the asset ahead of any potential launch. Catania, Sicily's principal airport, is Italy's fifth-busiest airport in terms of passenger traffic. The airport is operated under a long-term concession by SAC. This company is owned by the local authorities and chambers. SAC...

Oct. 9 - Stock markets in the Gulf region rose early on Thursday, supported by the hope of more U.S. rate cuts in this year as well as a possible ceasefire in Gaza to ease geopolitical tensions. On Wednesday, market participants applauded Israel's and Hamas's agreement to the first phase in U.S. president Donald Trump’s plan for Gaza. The deal could lead to the end of a two-year war that has ravaged the Middle East. Saudi Arabia's benchmark stock index rose 0.3%. This was mainly due to a 0.8% increase at Al Rajhi Bank, and a 1,1% rise at Saudi...

Urals crude differentials remained unchanged on Monday after OPEC+’s planned production increases for November appeared to be less modest than expected. OPEC+ said that it will increase oil production by 137,000 barrels a day (bpd) from November, opting for a similar modest monthly rise as in October amid persistent concerns about a looming glut of supply. The oil price rose about $1 on Sunday, easing some supply concerns, but a weak outlook for the near term is likely to limit gains. Two industry sources reported on Monday that the Kirishi oil refining plant, one of Russia’s largest, had halted its...

Financial Times, citing an alleged plan, reported that Field Marshal Asim Muniz's advisers had approached U.S. officials to offer to build and operate a port in the Arabian Sea. According to the Financial Times, the plan involves American investors building and running a terminal in Pasni to access Pakistan's vital minerals. Pasni lies in Gwadar District, in the province Balochistan which borders Afghanistan, Iran and Pakistan. Munir and Pakistan's prime minister Shehbaz Shariff met with Donald Trump, the U.S. president, at the White House back in September. Sharif requested investment in the U.S. mining, energy, agriculture and technology sectors during...

The third quarter of recent history was both one of best and worst for dealmakers around the world. According to Dealogic, megadeals generated a staggering $1.26 trillion worth of global mergers and purchases during the third-quarter - an increase of 40% over the previous year. This was the second best third-quarter ever by deal value. Data show that only 8,912 transactions were completed, down 16% on last year. This is the lowest third-quarter deal volume for 20 years. Dealmakers are in a strange situation, as they had high hopes for 2025 following the election of Donald Trump. Trump's punishing Tariffs,...

The third quarter of recent history was both one of best and worst for dealmakers around the world. According to Dealogic, megadeals generated a staggering $1.26 trillion worth of global mergers and purchases during the third-quarter - an increase of 40% over the previous year. This was the second best third-quarter ever by deal value. Data show that only 8,912 transactions were completed, a drop of 16% compared to last year. This is the lowest third-quarter deal volume for 20 years. Dealmakers are in a strange situation, as they had high hopes for 2025 following the election of Donald Trump....

The third quarter of recent history was both one of best and worst for dealmakers around the world. According to Dealogic, megadeals generated a staggering $1.26 trillion worth of global mergers and purchases during the third-quarter - an increase of 40% over the previous year. This was the second best third-quarter ever by deal value. Data show that only 8,912 transactions were completed, a drop of 16% compared to last year. This is the lowest third-quarter deal volume for 20 years. Dealmakers are in a strange situation, as they had high hopes for 2025 following the election of Donald Trump....

The decline in imports of Russian fuel to Turkey has been due to sanctions and competition from other grades of oil, as well as the fact that President Donald Trump is urging allies not to buy Russian oil, to hinder its war effort. Trump, frustrated by Russia's refusal of to stop fighting in Ukraine and a major source of revenue for Moscow, has asked Europe to cease Russian oil and gas sales. After two hours of discussions with Turkish President Tayyip Erdoan, Trump stated that he thought Ankara might agree to his demand to stop purchasing Russian oil, and he...

Saudi stocks continued their sharp rise in early trading on Thursday, following news that Capital Market Authority was considering allowing foreigners to own majority stakes of listed companies. The UAE markets recovered as investors purchased recently sold-off share. Saudi Arabia's benchmark stock index rose 1.1% on the back of its largest single-day gain for more than five year after Bloomberg reported that regulators could ease the cap on foreign ownership to 49%, which would likely attract new foreign investment into the region's biggest equity market. Al Rajhi Bank shares, the largest Islamic lender in the world, rose more than 5%...

On Monday, dockworkers on strike in Italy blocked the access to ports and violence broke out at a pro Palestinian protest in Milan's centre as unions held a day of demonstration against Israel’s Gaza offensive. Italian dockworkers protesting say they want to stop Italy being used as an staging post for arms and other supplies going to Israel, which is at war in Gaza with Hamas. A witness said that police in riot gear used tear gas to fight protesters near the central station of Milan. Meanwhile, Italian media reported that the demonstrators tried to stop traffic on the autobahn...

The differentials between Urals crude and Brent for the date of February weakened on Monday due to rising shipping costs from Russia to India. This was driven by an increase in cargoes coming from Primorsk and Novorossiisk. Industry sources say that the current freight costs to transport Urals from the Baltic port of Primorsk to India for Aframax tanks rose from $6-6.5 millions for one-way trips in late August to middle September. The traders reported that the prices of Urals at western Indian ports remained constant. The exact plans for October remain unknown, but they expect Urals to continue exporting...

A source familiar with this matter reported on Monday that Limak Holding, a Turkish company, has received a loan of 1.7 billion euros ($2 billion) from 14 institutions to help build a highway connecting Antalya and Alanya. The source told that 87% of the sustainability-linked credit, with a 14-year maturity, was provided by foreign-capital financial institutions. The agreement for financing was set to be signed in Ankara at a special ceremony on Monday. Source, who spoke on condition of anonymity before the ceremony, stated that the project should be completed in three years. Source: The funding process attracted 2.1 more...

Authorities in the region said that overnight, drones from Ukraine targeted Rosneft's Tuapse refinery, located in southern Russia's Krasnodar Region. The drones caused a fire to break out at a building used by security personnel, but it was quickly put out. Ukraine has intensified its drone attacks on Russia's oil pipelines and refineries in the last two months, claiming that it is in response to Russia's attacks against its own energy infrastructure. The Russian military announced on Monday that their air defence units have been upgraded. Overnight, 251 Ukrainian drones flew over the Black Sea, 61 of which were over...

Two energy sources who have direct knowledge of this matter said that the storage tanks were full and had to be emptied. According to one source, the flow of oil stopped around 1 am local time on Saturday (2200 GMT), after the tanks were overloaded and there was no room for any more shipments. According to the same source, flows would resume between 4 and 5 pm once vessels had finished loading and cleared space. Sources cited storage problems and maintenance on certain tanks. A second source confirmed that the Kirkuk blend was too expensive, which also affected sales. For...

Three people with knowledge of the matter have confirmed that China's largest state banks are lending Aramco billions for its Jafurah Gas Project, despite the fact that their funds had passed up the chance to invest. Two people with knowledge of the matter claim that Chinese banks have provided more than a quarter of the funding for what could be the largest shale-gas project outside of the U.S. Bank of China, ICBC, and China Construction Bank all lent about $1 billion each, and Agricultural Bank of China lent around $750 millions. Aramco signed an agreement in August for a lease-and-leaseback...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. In a memo, the Trump administration lays out a range of terms that are meant to raise university standards and performance. Trump Administration withholds $18 billion of infrastructure funds from some major New York City transportation projects, citing concerns over diversity, equity, and inclusion. Excelerate Energy was awarded a contract by Iraq for the development of an integrated floating terminal to import liquefied gas. Officials from the U.S. said that they will give Ukraine intelligence on long-range...

The global investment firm KKR announced on Wednesday that it had acquired a minority stake in the entity which leases Abu Dhabi National Oil Company’s gas pipeline assets. Financial details were not disclosed. KKR will acquire the minority stake in ADNOC Gas Pipeline Assets via its managed accounts. The company stated that the long-term capital would match the type of investment and the tenure. This transaction follows KKR’s investment in ADNOC’s oil pipeline system in 2019, a first by a foreign asset management company in Gulf energy infrastructure. KKR, in partnership with BlackRock, divested this holding to Abu Dhabi's Lunate...

The Swiss manufacturer WinGD said that it will offer its first ship engine powered by ethanol next year. Ethanol is a fuel with lower emissions, which can be made from biomass like corn or sugarcane. The International Maritime Organization has set a goal of zero net emissions for the industry by the year 2050. To achieve this, the shipping industry is exploring ways to reduce pollution. One way to do so is by installing engines powered by low-carbon fuels. WinGD reported that the company was in discussions with several shipowners and ethanol fuel suppliers, as well as class societies, about...

The oil prices dropped on Tuesday, as another OPEC+ production increase was anticipated. Also, the resumption in the Kurdistan region of Iraq via Turkey has reinforced the prospect for a looming surplus. Brent crude futures expiring Tuesday fell by 54 cents or 0.8% to $67.43 per barrel at 0320 GMT. The December contract, which is the more active, was down by 53 cents or 0.8% at $66.56 a barrel. U.S. West Texas Intermediate Crude was trading at $62.95 per barrel, down by 50 cents or 0.8%. These drops are a continuation of Monday's drop when Brent and WTI both settled...

The oil prices dropped on Tuesday, as OPEC+ increased production and resumed exports of Iraqi Kurdistan via Turkey. This reinforced the view that a supply surplus is imminent. Brent crude futures expiring Tuesday fell by 47 cents or 0.69% to $67.50 per barrel at 0012 GMT. The contract for December, which is the most active, was down 43 cents or 0.64% at $66.66 a barrel. U.S. West Texas Intermediate Crude was trading at $63.05 per barrel, down by 40 cents or 0.63%. These drops are a continuation of Monday's decline when Brent and WTI both settled over 3% lower, after...

The oil price fell more than 1% Monday, as OPEC+ announced plans to increase oil production in November. Also, the Kurdistan region of Iraq resumed oil exports via Turkey. This increased the outlook for global oil supply. Brent crude futures fell $1.01 or 1.4% to $69.12 per barrel at 1019 GMT, after reaching their highest level since Friday, July 31. U.S. West Texas Intermediate Crude was down $1.11 or 1.7% at $64.61. OPEC+ (the Organization of Petroleum Exporting Countries, its allies and the group known as OPEC+) is expected to approve a further increase in crude oil production during its...

Kuwait's electricity minister announced on Saturday that the country will increase its power generation capacity to 14,05 gigawatts by 2031 in order to meet the rising demand. Kuwait, as a major oil-producing country, is struggling with power shortages due to rapid population growth, urbanization, high temperatures, and maintenance delays in certain plants. The government has had to implement planned power cuts since last year. Subaih Al-Mukhaizim said on X, the minister of electricity and water, as well as renewable energy, that the country managed to successfully manage the summer of 2025 despite some days reaching temperatures of 51 degrees Celsius....