Saudi Arabia’s Voluntary Carbon Market Fuels the Shift to a Low-Carbon
Under UAE President’s directives, UAE launches urgent relief response for Ghana flood victims
Combating Desertification and Drought: Qatar a Model in Preserving Natural Resources, Establishing Environmental Stability
UAE allocates US$30 million for emergency humanitarian response in El Obeid, calls for civilian protection, safe humanitarian aid access in Sudan
Oil Steady after Hitting One-Week LowSingapore, 5 Aug (ONA) — Crude oil prices held steady today, following three consecutive days of declines, as traders weighed concerns over potential oversupply and geopolitical risks affecting Russian crude exports.
Brent crude futures were unchanged at $68.76 per barrel, while US West Texas Intermediate (WTI) edged down by 0.03% to $66.27 per barrel in early trading.
Both benchmarks had fallen by more than 1% in the previous session, marking their lowest levels in a week.
The recent weakness in prices is largely attributed to mounting fears that the global oil market may be heading toward an oversupply scenario, particularly in light of OPEC+’s latest production decision. — Ends/AH
