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 Prices Climb on Expectations of Imminent U.S. Interest Rate CutSingapore, 25 Aug (ONA) — Oil prices advanced modestly today, supported by growing optimism for a U.S. interest rate cut that could stimulate economic growth and bolster global fuel demand.Brent crude futures edged up by 6 cents to settle at $67.79 a barrel, while West Texas Intermediate (WTI) crude futures gained 9 cents to reach $63.75.The market’s positive shift was primarily driven by comments from Federal Reserve Chair Jerome Powell on Friday, which significantly strengthened the case for a rate cut at the Fed’s upcoming meeting. This prospect has enhanced investors’ risk appetite, weakening the U.S. dollar and making dollar-priced commodities like oil more attractive to holders of other currencies. The anticipation of lower borrowing costs, which typically spur economic activity, provided a firm foundation for the uptick in crude prices.— Ends/Khalid
