... has added to the bearish sentiments that currently prevail on the world's oil markets. Crude oil futures for December delivery in the US settled at Dh64.15 a barrel on Friday on ...

... the next four weeks, prices will decline further. The other factor will be Nymex crude oil futures. The only new demand for vegetable oil will come from the bio-diesel sector and ...

... CRUDE oil futures retreated over the weekend after an OPEC decision to trim output failed to counteract ...

... to make investments that went wrong. Oil and commodities were the hardest hit, with crude oil futures sliding 11% in one week to finish below $65 a barrel. Energy and materials ...

The Gulf states are soon to sign an agreement to pave the way for a regional electricity grid and power trading to cope with rising demand. Electricity ministers from the GCC will meet in Qatar in early November to finalise the agreement on the grid. In the first phase in early 2009, the grid will have a capacity of 1,200 megawatts and will connect Kuwait, Saudi Arabia, Bahrain and Qatar. Oman and

The waste water treatment and desalination projects under construction in the Middle East is currently valued at around $100bn (Dhs367bn) with the UAE projects worth $15bn. Ahmad Al Shuha, director of Abu Dhabi-based Concorde-Corodex Group, confirmed at the sidelines of a power generation conference held in Abu Dhabi: 'This is a huge market to tap. The demand for re-use of waste water is growing b

Dubai fuel retailers including ENOC, Eppco and Emarat have cut the price of diesel by Dhs0.70 a gallon to reflect the prevailing international crude oil and oil product prices. The cut marks oil retailers' ninth cut in diesel prices and their single-biggest cut since July 28.

Tom Friedman wrote a piece today criticizing Treasury’s use of the first $250B of the $700B “bailout” funding to buy equity in banks, saying it will stifle creative lending.  Friedman is apparently naive.  The reason Treasury put money into large banks was not to “stimulate” the banking system.   The reason is so that the banking [...]

London (Platts) -- 27Oct2008 -- OPEC may cut crude output again this year if the 1.5 million b/d cutagreed Friday and set to come into effect on November 1 fails to stabilize theoil market, Iran's OPEC governor Mohammad Ali Khatibi...

London (Platts) -- 27Oct2008 -- Front-month ICE Brent traded below $60/barrel in the early morningEuropean trading session Monday, following heavy selling across globalbourses. The ICE dollar index added further pressure to the commodity...