Bloomberg Oil held onto Friday’s sharp losses as traders weighed whether aggressive US monetary policy tightening will lead to a recession that would stymie consumption. Brent traded near $114 a barrel after shedding more than 5% as escalating concerns about the pace at which the Federal Reserve is raising rates rattle financial markets. Trading was thin on Monday due to ...

  ABU DHABI / WAM The Ministry of Energy and Infrastructure announced the fact that the UAE has joined the International Partnership for Hydrogen and Fuel Cells in the Economy (IPHE), a new achievement added to the UAE’s long track record as a pioneer in the field of energy. The agreement was signed remotely by Sharif Al Olama, Under-Secretary of ...

  Abu Dhabi / WAM Al Seer Marine PJSC (ASM), a global player across multiple marine sectors and subsidiary of International Holding Company (IHC), acquired two Very Large Crude Carriers (VLCC) for its growing fleet. With a total value of AED404 million, the crude oil tankers, MV Twin Castor and MV Twin Pollux, each have a carrying capacity in the ...