The price of crude oil tumbled more than $2 to near $84 a barrel Friday, extending a month of sharp losses, as investors looked ahead to a key U.S. jobs report amid worries about a slowdown in growth in the U.S. and China, Europe's persistent financial crisis and expanding crude supplies.
By early afternoon in Europe, benchmark oil for July delivery was down $2.14 to $84.39 per barrel, the lowest since October, in electronic trading on the New York Mercantile Exchange. The contract fell $1.29 to settle at $86.53 in New York on Thursday.
In London, Brent crude for July delivery was down $2.04 at $99.83 per barrel on the ICE Futures exchange.
Dolphin’s export gas compressor upgrade project commissioning
A major upgrade of Dolphin Energy’s export gas compressor at Ras Laffan will enable capacity increase to 3.2bn standard cubic feet a day (scf/d) from the current average rate of 2bn scf/d.
‘UAE’s sound economic policy pays off’
His Highness Shaikh Humaid bin Rashid Al Nuaimi, Member of Supreme Council and Ruler of Ajman, said on Wednesday that the sound economic policy adopted by the UAE, under the leadership of the Preside
KFH sponsors 12 graduation projects
Kuwait Finance House (KFH) took part in the 24th Engineering Design Expo for the College of Engineering and Petroleum at Kuwait University.
KFH sponsored several projects prepared by a gr
Emirates NBD launches $1 bn bond
Emirates NBD launched a $ 1 billion core capital-boosting bond yesterday, amid healthy
demand, allowing the Dubai lender to tighten earlier price guidance.
The Tier 1 bond launched at a f
Flydubai begins Salalah flights
Flydubai on Wednesday began flights to Salalah, in the Sultanate of Oman, bringing its operational network to 60 destinations.
The airline also launched flights to the Sri Lankan city of