Stock markets in the United Arab Emirates closed higher on Friday on rising oil prices and after the Federal Reserve indicated earlier in the week it is likely to cut borrowing costs next year. Oil prices, a major driver for Gulf economies, were on track to notch up their first weekly rise in two months after a...
Russia’s President Vladimir Putin visited the United Arab Emirates and Saudi Arabia last week in a bid to expand relations with the two oil-rich states and show that he isn’t as isolated as he has been portrayed by the West. The Russian dictator’s visit to the two Gulf states was only the second time he...
Oil prices could surge. Disagreements between nations could worsen. The conflict complicates already fragile global diplomacy ahead of crucial climate talks. Global efforts to address climate change are already clouded by bitterness and distrust among countries of the world. Now a widening gyre of conflict in the Middle East threatens to fracture an already divided...
A little more than a month remains before the start of the next United Nations Climate Summit, known as COP28, taking place in Dubai. But the already fraught talks are facing another potential obstacle: the threat of regional Mideast instability following Hamas’ terrorist attacks in Israel. Why it matters: At COP28, countries are tasked with weighing actions...
It’s an awkward moment for the oil industry to have at last won its long-sought “seat at the table” in international climate talks. The contradictions and conflicts in play at this opaque moment in the energy transition are mind-boggling. Global temperatures are flaring. War-related market disruptions are fading. The economic outlook is extremely fuzzy. Neither...