Feb 23: Gold was flat on Wednesday, holding near a nine-month high hit in the last session, as safe-haven demand was offset by a rise in Treasury yields following the first wave of U.S. and European sanctions on Russia for sending troops into eastern Ukraine. FUNDAMENTALS * Spot gold was little changed at $1,898.63 per … Read more
Output at Libya’s Sharara oil field, seen here in 2014, has been shut almost continuously since early January. Photo: ismail zetouni/Reuters Oct. 11, 2020 10:50 am ET Production at Libya’s largest oil field restarted Sunday afternoon, Libyan officials said, a move that could quickly increase the country’s overall output after an extended shutdown and add … Read more
TABUK, Saudi Arabia—This desert kingdom is pushing ahead with multibillion-dollar plans to build a spate of new cities despite the coronavirus pandemic and depressed oil prices, betting that projects closely associated with the crown prince will kick-start its economic recovery. The developments include a futuristic city-state called Neom in the country’s remote northwest Tabuk province, … Read more
The Trump administration is urging Iraq to proceed with a project to connect its power grid with Saudi Arabia and other Gulf states, among steps to reduce Baghdad’s longstanding dependency on Iranian energy, U.S. and Arab officials said. The grid-connection venture has been the subject of intensive consultations in recent months and was discussed during … Read more