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- Bahrain All Share Index closes lower, Bahrain Islamic Index closes higher
- Zain Kuwait strengthens role as strategic partner to the national energy sector
- Europe's reliance on US, Russian LNG climbs to record above 80%
- Gulf Bank participates in 'Joy Land' initiative
- Dollar posts first weekly gain since January on haven demand
- Tech stock shakeout clouds market ahead of data deluge
- Bede partners with Ottu to advance digital wallet adoption in Kuwait
- Duqm Refinery exports 633 shipments since operations began
- MSX extends gains on strong buying by local institutions
- Manufacturing grows 7.2% in 2025, contributes RO3.9bn to Oman's GDP
25/05/2011 00:00 AST
Brent crude futures slipped below $112 a barrel on Wednesday after industry data showed U.S. crude inventories fell less than anticipated last week and the dollar rebounded against the euro.
The American Petroleum Institute (API) said crude inventories fell 860,000 barrels for the week ended May 20, compared with analysts' expectations for a 1.3 million-barrel draw.
Gasoline stocks rose 2.4 million barrels a week before the Memorial Day weekend, the official start of the summer driving season. Analysts had only expected a 300,000-barrel build.
"The inventory numbers are driving prices lower. The rise in gasoline stocks is significant coming just before Memorial Day. If the EIA numbers show a rise as well that will put more pressure on prices," said Michel Lo, a Hong Kong-based analyst with Nomura International.
As the U.S. driving season approaches, traders have been closely eyeing the steady drawdown of gasoline stockpiles.
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Guardian.co.uk
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 70.7 | -0.16 | -0.23 |
| WTI | 65.74 | 0.23 | 0.35 |
| OPEC Basket | 67 | 1.87 | 2.87 |
05/02/2026
Syria will soon announce a major oil project with US energy giant Chevron, the head of the country's investment authority said on Tuesday, as Damascus seeks to attract foreign capital after years of
Gulfnews
05/02/2026
Oil prices extended gains on Wednesday after the US shot down ?an Iranian drone and armed Iranian boats approached a US-flagged vessel in the Strait of Hormuz, rekindling fears of an escalation in te
Asharq Al Awsat
02/02/2026
OPEC+ agreed to keep its oil output unchanged for March at a meeting, the producer group said on Sunday, even after crude prices hit six-month highs on concern the US could launch a military strike o
Reuters
02/02/2026
Oil prices plunged Monday after Donald Trump said he was hopeful of reaching a deal with Iran, easing concerns about a conflict between the two in the crude-rich region.
West Texas Intermedi
AFP
28/01/2026
The Sultanate of Oman's oil exports recorded a slight decrease of 0.1% by the end of December 2025, reaching 307,960,900 barrels compared to 308,422,100 barrels during the same period in 2024, accord
Times of Oman
Financial Information Co.
Saudi Arabia