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
Singapore, March 09 (QNA) – Oil prices plunged from the high levels they reached earlier Monday, but they remain up more than 15 percent, at levels not seen since mid‑2022, following production cuts by some major oil-producing countries, and amid apprehensions of long-term shipping disruptions dominating the market due to the expanding US-Israeli war with Iran.
Brent crude futures jumped USD 15.51, or 16.7 percent, to reach USD 108.20 per barrel (pb), on track for the largest single-day gain ever, while U.S. West Texas Intermediate (WTI) futures rose USD 14.23, or 15.7 percent, to reach USD 105.13 pb.
Earlier today, WTI rose 31.4 percent to its session high of USD 119.48 pb, while Brent climbed 29 percent to USD 119.50 pb.
Before today’s sharp rise, Brent had already increased 27 percent, and WTI by 35.6 percent, over the past week. (QNA)
