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The Latest Breaking News from Saudi Arabia

COP28: will there be an agreement to phase out fossil fuels?

It’s the issue at the core of COP28: will this year’s U.N. climate talks, held in major oil producer the United Arab Emirates, produce the first global agreement to phase out fossil fuel use?

The Hindu

Spanish Ace Rahm Confirms Jump To LIV Golf

Reigning Masters champion Jon Rahm confirmed Thursday he is joining LIV Golf in a deal reportedly worth hundreds of millions of dollars, sealing a stunning coup for the Saudi Arabia-backed circuit.

International Business Times

Weakness in Crude Oil Persists on Oversupply Concerns

January WTI crude oil (CLF24 ) on Thursday closed down -0.04 (-0.06%), and Jan RBOB gasoline (RBF24 ) closed down -0.0190 (-1.43%). Crude oil and gasoline prices on Thursday extended Wednesday's sharp losses, with crude oil falling to a 5-1/4 month low and gasoline falling to a 1-year low. Concern...

Barchart

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Iran’s Raisi says ‘genocide’ unfolding in Gaza as he meets Russia’s Putin

Putin hosts Raisi as part of a blitz round of Middle East diplomacy after visits to the UAE and Saudi Arabia.

Al Jazeera

Dollar Weakness Sparks Mild Short-Covering in Crude Oil

January WTI crude oil (CLF24 ) this morning is up +0.05 (+0.07%), and Jan RBOB gasoline (RBF24 ) is down -0.0193 (-0.95%). Crude oil and gasoline prices this morning are mixed, with gasoline falling to a 1-year low. A weaker dollar today has sparked some mild short-covering in crude oil....

Barchart

Putin, Saudi Leader Urge Oil Cooperation As Prices Flag

The leaders of Saudi Arabia and Russia used a rare face-to-face meeting to urge oil producers to stick to pledged supply cuts, a joint statement said Thursday.

International Business Times

Crude Prices Sink on Global Oversupply Worries

January WTI crude oil (CLF24 ) on Wednesday closed down -2.94 (-4.07%), and Jan RBOB gasoline (RBF24 ) closed down -0.0801 (-3.80%). Crude oil and gasoline prices on Wednesday sold off sharply, with crude falling to a 5-month low and gasoline tumbling to a 1-year low. Concern about excess global...

Barchart

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Unbeaten Muhammad Mokaev booked vs. Alex Perez at UFC’s Saudi Arabia debut

The UFC's inaugural event in Saudi Arabia is taking shape with the addition of a key flyweight bout between Muhammad Mokaev and Alex Perez.

USA Today Sports Media Group

Crude Prices Plunge on Concern About Excess Global Oil Supplies

January WTI crude oil (CLF24 ) this morning is down -2.79 (-3.86%), and Jan RBOB gasoline (RBF24 ) is down -0.0780 (-3.70%). Crude oil and gasoline prices this morning are sharply lower, with crude falling to a 5-month low and gasoline tumbling to a 1-year low. Concern about excess global...

Barchart

Who are Yemen’s Houthis and why are they attacking ships in the Red Sea?

Yemen’s Shia Houthis are part of Iran’s ‘axis of resistance’ dedicated to the destruction of Israel

The Independent UK

Putin Lands In Abu Dhabi On Middle East Visit

President Vladimir Putin is in the United Arab Emirates for a rare visit outside the former Soviet Union Wednesday, as Russia seeks to reassert itself on the global stage.

International Business Times

Manchester United to double in value as Saudi Arabia targets buying Champions League: report

Manchester United could receive an incredible kickback if UEFA decides to sell the Champions League

FourFourTwo

Crude Prices Erase Early Gains on Ramped-Up U.S. Crude Exports

January WTI crude oil (CLF24 ) on Tuesday closed down -0.72 (-0.99%), and Jan RBOB gasoline (RBF24 ) closed down -0.0239 (-1.12%). Crude oil and gasoline prices Tuesday gave up early gains and moved lower, with crude falling to a 3-week low. Ramped-up U.S. crude exports are weighing on oil...

Barchart

Putin to visit Saudi Arabia, UAE with Israel-Hamas war on agenda

Talks expected to focus on Israel-Hamas war in Gaza and oil market cooperation, says Kremlin spokesperson.

Al Jazeera

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Barchart

Crude Prices Climb After Russia Said OPEC+ Crude Cuts Can Go Further

January WTI crude oil (CLF24 ) this morning is up +0.73 (+1.00%), and Jan RBOB gasoline (RBF24 ) is up +0.0012 (+0.06%). Crude oil and gasoline prices this morning are moderately higher, with crude recovering from a 3-week low. Crude prices rebounded from early losses and moved higher after Russian...

The Guardian - UK

Putin to make rare trip abroad to discuss Israel-Hamas war with UAE and Saudi Arabia

Russian president will travel to Middle East on Wednesday as he tries to reclaim role in global politics

International Business Times

Kremlin Says Putin To Visit Saudi Arabia, UAE On Wednesday

President Vladimir Putin will visit Saudi Arabia and the United Arab Emirates on Wednesday, the Kremlin has announced, as Moscow courts allies abroad despite being isolated by the West over the Ukraine conflict.

Radio France Internationale

No agreement in sight as Cop28 teams wrangle over phasing out fossil fuels

The debate over the future of fossil fuels, the biggest cause of global warming, is the key battle at the Cop28 climate summit hosted by the oil-rich United Arab Emirates. As neighbouring Saudi Arabia – the world's biggest oil exporter – ruled out phasing down oil, gas and coal, and…

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The Independent UK

Isolated Putin set for ‘working visits’ to UAE and Saudi Arabia as rest of world discusses climate action at Cop28

Russian president set for rare trip overseas since his arrest warrant over Ukraine war crimes

WEKU

After Houthi attacks in the Red Sea, fears of a wider Middle East conflict grow

The Iran-backed rebel group attacked multiple ships in the Red Sea over the weekend. The Houthis control large swaths of Yemen's territory.

International Business Times

Saudi Arabia Says 'Absolutely Not' To Oil Phaseout At COP28

Saudi Arabia's energy minister has slammed the door shut on agreeing to phase out fossil fuels at the UN's COP28 climate talks, setting the stage for difficult negotiations in Dubai.

Barchart

Crude Oil: Does OPEC Have a Problem?

OPEC’s biannual meeting in late November establishes the cartel’s production policy for the coming year. The cartel scheduled the late 2023 meeting for Sunday, November 26, but the oil ministers could not agree on output quotas during preliminary meetings, causing a delay in the meeting until the end of November.

The Guardian - UK

Rocco Forte sells 49% of luxury hotel chain to Saudi Arabia

Deal is thought to value the owner of the Balmoral and Brown’s hotels at about £1.2bn

The Guardian - UK

From a 100-mile city to a desert ski resort: why is Saudi Arabia spending billions on architectural ‘gigaprojects’?

The Saudi crown prince is creating wildly ambitious projects masterminded by renowned architects, curators and designers. The upshot is either progressive modernisation or image-laundering, depending who you ask

FourFourTwo

Saudi Arabia to land ANOTHER star name - as key target launches scathing attack: report

Saudi Arabia have changed the footballing landscape this past year, and the nation doesn't look like slowing down anytime soon

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