Oil rebounded from a seven-week low in New York before a government report forecast to show that payrolls rose for a fourth month in the U.S., the world’s biggest crude-consuming nation.
Futures advanced as much as 0.7 percent for the first gain in three days after a technical indicator signaled prices may have fallen too far. They dropped 2.4 percent yesterday, leaving West Texas Intermediate futures at the biggest discount to London-traded Brent crude in more than five months. Payrolls in the U.S. probably rose by 205,000 last month, according to Bloomberg survey before the Labor Department report tomorrow.
New technologies eyed to meet KSA power needs
The importance of efficient cooling power generation technology was emphasized by senior Saudi utility officials and key industry leaders during the District Cooling and Tri-Generation Summit here on
Jeddah to host Omani Products Exhibition
Preparations for the fourth Omani Products Exhibition (OPEX), scheduled to be held at the Jeddah Center for Forums and Events on May 18-21, 2015, are well underway with more than 100 Omani companies