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CAIRO/ WAM Ahmed Aboul Gheit, Secretary-General of the Arab League, congratulated the UAE for the successful entry of the Hope Probe into the orbit of Mars, stressing that this success is the outcome of an investment in knowledge and an academic and scientific renaissance, which was reinforced and supported by the government over many decades. In his statement issued on …

Bloomberg Oil rose again to extend the longest run of gains in two years with a industry report showing falling US crude stockpiles the latest sign of tightening global supplies. While prices continue to surge, some of the biggest moves in the past day have come at the front of the futures curve. Brent’s nearest timespread has surged — a …

Bloomberg The crude market is now offering its biggest yield in about a year — at a time when other asset classes are offering meager returns — causing a surge in investor appetite for the commodity. As oil futures power to $60 a barrel, the market’s forward curve has moved sharply into a pricing pattern where nearer-dated contracts are more …

Bloomberg A World Health Organization (WHO) investigation in China found that the coronavirus most likely jumped to humans through an animal host or frozen wildlife products, finding that it’s “extremely unlikely” it came from a laboratory leak. No further research is needed to look into the theory about a leak, Peter Ben Embarek, a WHO official, told reporters on Tuesday …

Bloomberg Oil in London rose above $60 a barrel for the first time in more than a year as stockpiles tighten and the demand outlook improves amid the global rollout of Covid-19 vaccines. It’s another milestone in a stellar comeback from the biggest demand destruction in a generation after the pandemic forced countries to lock down, devastated economies and grounded …

DUBAI / WAM Breakbulk Middle East (BBME) is hosting their Digital Special on Tuesday in the midst of high-level officials and professionals from the breakbulk and project cargo industry. The live-in person event is scheduled to be held on February 01-02, 2022. The event will feature discussions on topics of importance like the significant role of women in the industry …

RIYADH / WAM The Joint Coalition Forces have intercepted and destroyed this evening additional bomb-laden UAVs. This was stated by the official Spokesman of the Coalition to Restore Legitimacy in Yemen Brigadier General Turki Al-Malki. “A total of (4) bomb-laden UAVs launched systematically and deliberately by the terrorist Houthi militia to target civilians and civilian objects in the Southern Region …

Bloomberg One year after the first glimmers of the catastrophe awaiting global oil markets — from deserted Chinese cities to grounded jets — crude is staging a remarkable turnaround. The crisis triggered by the deadly coronavirus was the worst the petroleum industry has ever seen. Fuel demand crashed by a fifth, prices slumped below zero, producers fought viciously over customers, …

Bloomberg Oil set a fresh one-year high in New York with continued producer supply curbs helping spur strength everywhere from physical markets to the futures curve. Futures gained 1.1% in New York to the highest since late January 2020, while Brent crude remained just under $60 a barrel in London. The number of vessels sailing towards China jumped to a …

Bloomberg Sinovac Biotech Ltd received regulatory approval from Chinese authorities for its coronavirus vaccine to be used by the general public in the country’s second such authorisation. The conditional approval was announced by the National Medical Products Administration on Saturday. Sinovac earlier said the protective efficacy of its vaccine, CoronaVac, met World Health Organization and China regulatory standards 14 days …