Breaking News: Middle East
Suez Canal traffic resumes after cargo ship Ever Given is moving again
A view shows the container ship Ever Given, one of the world’s largest container ships, after it was partially refloated, in Suez Canal, Egypt March 29, 2021. Suez Canal Authority | Reuters The Ever Given, the massive container ship that became wedged in the Suez Canal and cut off traffic in the vital waterway for …
Crude oil gives up 12% gain, turns negative as traders await OPEC cut details
U.S. oil dropped more than 9% on Thursday, giving back an earlier gain of more than 12%, as the Street awaited details on production cuts from OPEC and its allies, known as OPEC+. An extraordinary meeting between the oil-producing nations, which kicked off around 10:45 a.m. ET, remains ongoing. Producers were reportedly amenable to scaling …
Shares surge as trading begins
Saudi Aramco, the world’s largest initial public offering (IPO), surged past expectations as it debuted on the country’s stock exchange on Wednesday morning. Shares of the state-owned oil company rose to 35.2 Saudi riyals ($9.38) from 32 riyals in early deals in Riyadh, up 10% and hitting their daily limit. The price gives it a …
