Oman








Oil & Gas

Oil & Gas

Asian stocks are up, and so are major Gulf markets.

The major Gulf stock markets rose early on Tuesday following gains in Asian stocks, recovering from a global selling off on hopes that the United States would be willing to negotiate its high import tariffs. Saudi Arabia's benchmark Index advanced 2% on track to extend gains made in the previous session. This was led by Al Rajhi Bank's 2.3% increase and Saudi National Bank's 2.1% rise. Saudi Aramco, the oil giant, rose by 1.2%. The Saudi index fell 6.8% on Sunday, its largest one-day drop since the beginning of the COVID-19 Pandemic in 2020. A survey revealed that the non-oil...

Oil & Gas

The Trump tariffs have caused a drop in the price of Bourses in the Gulf

The Gulf stock markets fell on Thursday morning, amid concerns that the U.S.'s reciprocal tariffs could worsen trade tensions globally and tip the world towards recession. On Wednesday, U.S. president Donald Trump announced a 10% tariff as a baseline on all imports and increased duties on dozens countries, including its largest trading partners. Saudi Arabia's benchmark stock index fell by 0.4% after the return to trading following a four-session Eid holiday. Saudi National Bank, the country's largest lender, fell 1.5%. Saudi Aramco, the oil giant in Saudi Arabia was down by 0.8%. Oil prices, which are a major factor in...

Oil & Gas

Investors in the Gulf are gaining as they wait for US tariff clarity

Investors are waiting for clarity about U.S. president Donald Trump's policy on trade ahead of the looming tariffs. Trump's recent comments have given traders hope that trade policies can be flexible. He hinted on Monday that not all tariffs will kick in until April 2, and that certain countries may receive exemptions. However, he did not provide any details. Trump escalated his trade conflict by introducing secondary tariffs of 25% on countries who buy oil or natural gas from Venezuela. The move caused oil prices to rise initially, but its impact was mitigated later by the relief brought about by...

Crude Oil

Sources say that OPEC+ is likely to go ahead with its planned increase in oil production for May.

Four sources said that OPEC+ would likely stick with its plan to increase oil production for a second month in a row in May. This is despite the steady price of oil and plans to make some members reduce their pumping to compensate past overproduction. OPEC+, a group consisting of OPEC producers and allies led by Russia and pumping over 40% of world oil. The group plans to increase its output by 135,000 barges per day in the month of May. This would be the second increase in a plan that aims to undo some of the millions barrels per...

Oil & Gas

Aramco's weight on Saudi Arabia and the Gulf countries is a major factor in the red coloration of most Gulf markets due to global trade war concerns.

The Gulf's stock markets fell on Tuesday morning as U.S. trade tariffs threatened an increase in global trade tensions. Saudi Aramco also disappointed investors with its disappointing earnings. The new tariffs of 25% on imports to the United States from Mexico and Canada, as well as a 20% increase on Chinese goods, went into effect on Tuesday. This sparked new trade disputes with three of the U.S.'s top trading partners. Saudi Arabia's benchmark stock index fell 1.1%. Saudi Aramco fell 2.2% after a decline in profit. The oil giant reported Tuesday a net loss of $106.2 billion for 2024. This...

Oil Storage

ISPRL chief: India wants to store oil in Oman

L.R. Jain, chief executive of Indian Strategic Petroleum Reserves Ltd (ISPRL), said that India has begun to look for oil storage facilities overseas and is currently in talks with Oman about leasing a facility capable of holding approximately 5 million barrels crude oil. Jain, CEO of Indian Strategic Petroleum Reserves Ltd. India, which is the third largest oil consumer and importer in the world, imports more than 80% of its oil requirements and is increasing its strategic reserve capacity to protect itself against any disruptions to global oil supply. Jain said that if the talks with Oman are successful, it...

Oil & Gas Refining

Major Gulf markets decline amid Trump tariff plan worries

Investors waited for more details about U.S. president Donald Trump's plans to impose reciprocal tariffs, and were concerned that global trade tensions could escalate. Trump re-invigorated his tariff threats on Friday, warning that auto levies may kick in as early as April 2. Trump also instructed commerce and economic officials in the U.S. to investigate reciprocal tariffs against countries that impose tariffs on U.S. products, with an April 1 deadline for recommendations. Saudi Arabia's benchmark stock index fell 0.5%. The biggest lender, Saudi National Bank, saw a 0.7% drop and ACWA Power dropped 1.2%. Saudi Aramco Base Oil Company also...

Oil & Gas

The majority of Gulf markets gain as investors weigh Trump effect

Most stock markets in the Gulf increased in early trade on Thursday in line with Asian shares as financiers mulled the ramifications of a Donald Trump presidency. Trump was elected president, topping a remarkable comeback 4 years after he was voted out of the White Home and ushering in a brand-new American leadership likely to evaluate democratic organizations at home and relations abroad. Saudi Arabia's benchmark index got 0.4%, with Al . Rajhi Bank rising 1.5%, while oil huge Saudi Aramco. innovative 1.8%. In Other Places, Al Moammar Details Systems Co. advanced 2.7%, a day after the firm signed a...

Oil & Gas

OQEP shares close down 8.2% in debut after Oman's most significant IPO on record

Shares of Oman's OQ Exploration and Production (OQEP) closed their first day of trading 8.2% listed below their problem rate on Monday, after the company raised $2.03 billion in an initial public offering ( IPO), the Gulf country's most significant ever listing. The stock, which fell as much as 9% during the trading session, closed at 358 Omani baizas compared to an issue price of 390 Omani baizas. By comparison Oman's benchmark index was down 0.3%. A representative for OQEP was not instantly readily available for comment. OQEP, the expedition and production service of Oman's. state energy group OQ, drifted...

Oil & Gas

Major Gulf markets blended on weak oil, ahead of profits

Major stock exchange in the Gulf were mixed in early trade on Tuesday on weakening oil even as stress intensified in the area and as financiers braced for thirdquarter incomes. Saudi Arabia's benchmark index dropped 0.1%, struck by a 0.9% fall in ACWA Power and a 0.6% fall in the nation's most significant loan provider, Saudi National Bank. Somewhere else, oil giant Saudi Aramco relieved 0.4%. Oil costs - a catalyst for the Gulf's financial markets - slid as much as $3 to a near two-week low throughout Asian trade on the back of a weaker demand outlook and after...

Oil & Gas

Most Gulf markets reduce as local stress increase

Most stock exchange in the Gulf were subdued in early trade on Wednesday with dispute in the Middle East the most pressing concern, although the Qatari index was buoyed by Qatar National Bank. An escalation of fighting in Lebanon and the ongoing one-year-old war in between Israel and Hamas in Gaza has actually raised fears of a wider Middle East conflict. The decline in Gulf markets started after Iran launched a. missile barrage on Israel on Oct. 1. Israel has actually sworn to. strike back and is weighing its alternatives, with Iran's oil. centers considered a possible target. Saudi Arabia's...

Oil & Gas

Major Gulf markets up after central banks cut rates to mirror Fed

Major stock markets in the Gulf increased in early Thursday trade after a lot of reserve banks in the region cut their essential interest rates following a larger than typical policy easing by the U.S. Federal Reserve. The Fed cut its benchmark rate by 50 basis points (bps) on Wednesday, with policymakers seeing another half a portion point fall by the end of this year. Saudi Arabia's benchmark index acquired 0.4%, with Al . Rajhi Bank rising 1.1%. The kingdom, the area's greatest economy, cut its. redeemed arrangement (Repo) rate and reverse repo rate by 50 bps. each to 5.5%...

Fossil Fuels

Fossil Fuels

The Gulf markets are mixed due to geopolitical concerns and Fed outlook

The Gulf stock markets were mixed on Thursday morning as tensions in the region escalated. However, there were signs that the Federal Reserve might still be able to deliver two rate reductions this year. The Fed kept interest rates steady on Wednesday, as was anticipated, and reiterated its forecast for two quarter-percentage-point rate cuts before the end of the year. The Fed's decisions affect monetary policy across the Gulf, where the majority of currencies, such as the Saudi Riyal, are pegged against the U.S. Dollar. Saudi Arabia's benchmark stock index rose 0.2% thanks to a 1.4% increase in ACWA Power...

LNG

Bangladesh's new LNG purchase policy draws Shell, BP, Glencore and Aramco

Shell, BP, Aramco and Glencore are among nearly 2 lots companies Bangladesh has authorized as suppliers of area liquefied natural gas (LNG) as it looks for to boost competition and cut costs, the nation's top energy authorities informed Reuters. Bangladesh's spot market was previously controlled by Vitol, Gunvor and Excelerate Energy, said Muhammad Fouzul Kabir Khan, the country's de facto energy and power minister. However after the ousting of Prime Minister Sheikh Hasina in August, the interim government is relocating to an open instead of personal tender. The nation of 171 million people, which made its very first LNG import...

Fossil Fuels

Major Gulf bourses retreat as regional stress swirl

Most major stock exchange in the Gulf reduced in early trade on Tuesday in the middle of geopolitical stress in the region and with business incomes stopping working to cheer investor belief. Hezbollah said it had actually fired rockets at 2 bases near the Israeli city of Tel Aviv and a naval base west of Haifa on Tuesday morning just hours before U.S. Secretary of State Antony Blinken arrived in Israel to make another push for an elusive ceasefire. Iran's Foreign Minister Abbas Araqchi, at a news conference in Kuwait throughout a regional trip, stated Tehran does not seek war...

Mineral Resources

Mineral Resources

The Gulf's major markets are on track to extend their gains

The major stock markets of the Gulf gained ground in the early trading on Wednesday. This was after recent losses caused by global trade wars and economic concerns. Trump increased duties on Chinese imports by 104%, accusing Beijing of manipulating yuan in order to offset the levies. But caution won out. China did not bow down to this blackmail and vowed to "fight until the end". Trump's tariffs on specific countries and products have been in effect since 0401 GMT. Saudi Arabia's benchmark Index gained 0.4%. Saudi Arabian Mining Company Ma'aden rose 2.2%. Ma'aden may choose at least one foreign...

Mineral Resources

Slow trading in major Gulf markets due to US tariff concerns

The Gulf stock markets were characterized by low volume on Tuesday, with prices falling as investors awaited clarification of the U.S. threat to impose reciprocal tariffs early next month. On Monday, Donald Trump announced that automobile tariffs will be implemented soon. He also said, however, that some of the levies he had threatened would not be imposed until April 2, indicating a degree of flexibility in this matter. Trump's tariff policy is expected to have a negative impact on global economic growth. It could also trigger more trade tensions and increase inflation. Saudi Arabian Mining Company lost 1.7%. Al Rajhi...

Mineral Resources

Most Gulf markets increase ahead of US financial data

Most major stock exchange in the Gulf increased in early trade on Tuesday as financiers sought assistance on the Federal Reserve's future rates of interest decisions, expecting the release of minutes from its most current conference and upcoming payrolls data. The week is filled with information releases particularly from the United States, which will be headlined by the December non-farm payrolls report on Friday. Minutes of the Fed's newest conference due on Wednesday will offer colour on their dot-plot predictions, while there will be plenty of live comment with numerous leading policymakers. Fed decisions have a substantial impact on the...

Mineral Resources

Major Gulf markets get on Israel-Hezbollah ceasefire hopes

The majority of major stock exchange in the Gulf increased in early trade on Thursday, buoyed by wish for a potential ceasefire offer in between Israel and Hezbollah. Lebanon's prime minister revealed hope on Wednesday that a. ceasefire handle Israel would be announced within days as. Israel's public broadcaster published what it said was a draft. arrangement offering a preliminary 60-day truce. The push for a ceasefire for Lebanon is taking place. alongside a similar diplomatic drive to end hostilities in Gaza. Saudi Arabia's benchmark stock index acquired 0.2%,. with ACWA Power Company advancing 3.9% and aluminium. products maker Al...

Mineral Resources

Vale partners with China's Jinnan steel to construct iron ore processing plant in Oman

Brazilian miner Vale , among the world's largest iron ore manufacturers, said on Monday it had actually partnered with China's Jinnan Steel Group to build an iron ore beneficiation plant in Oman to produce high quality pellet. With the front-end investment exceeding $600 million, the plant, which will be found in Oman's Sohar port and free trade zone, will offer higher quality iron ore for producing pellet and hot briquetted iron (HBI) locally, minimizing ecological effect, Vale stated in a statement on its WeChat account. The Sohar plant is set up to start commissioning in mid-2027, processing 18 million metric...

Mineral Resources

Major Gulf markets acquire on United States rate cut prospectus

Major stock exchange in the Gulf rose in early trade on Monday as investor belief stayed upbeat on hopes of a September rate cut in the United States. The Federal Reserve is anticipated to begin a rate-cutting cycle at its monetary policy conference on Sept. 17-18. Traders presently see a 67% opportunity of a 25 basis-point (bp). decrease by the U.S central bank this month and a 33% opportunity of. a 50-bp cut, according to the CME FedWatch tool. Financiers await the U.S. ISM production and services. prints, in addition to the JOLTS task openings, ADP private payrolls. and the...

Mineral Resources

Gulf markets slide on US economic crisis worries, regional tensions

Significant stock exchange in the Gulf tumbled on Monday, tracking Asian shares lower on worries that the United States could be heading for recession, while concerns about a widening dispute in the region contributed to the worries. The U.S. joblessness rate jumped to near a three-year high of 4.3% in July amid a substantial downturn in hiring, heightening fears the labor market was deteriorating and potentially making the economy susceptible to a recession. The worryingly weak July payrolls report saw markets price in a 78% chance the Federal Reserve will not just cut rates in September, however ease by a...

Mineral Resources

Most stock exchange reduce on weak oil

The majority of major stock markets in the Gulf alleviated in early trade on Tuesday following a decrease in oil prices as investors waited for the result of the U.S. main bank's meeting. Oil costs-- a driver for the Gulf's monetary markets-- extended losses from the previous session in the middle of concerns about need in China, while the marketplace shook off the risk of dispute escalating in the Middle East. Saudi Arabia's benchmark index dropped 0.3%, with aluminium products maker Al Taiseer Group losing 0.9% and Al Rajhi Bank down 0.4%. Separately, the kingdom's Manara Minerals is taking a...

Mineral Resources

UAE and Oman indication deals worth $35 bln on state see

Emirati and Omani companies have actually signed offers worth 129 billion dirhams ($ 35.12 billion) in sectors including energy and transportation during the Omani ruler's. see to the United Arab Emirates this week. The UAE financial investment ministry announced the deals on Tuesday,. a day after Oman's Sultan Haitham bin Tariq showed up for a. two-day state visit and consulted with UAE President Sheikh Mohammed. bin Zayed Al Nahyan. The contracts were dominated by a 117 billion dirham. commercial and energy megaproject organizing wind, solar. projects and green metals production. Abu Dhabi National Energy Co. (TAQA), Abu Dhabi Future. Energy...