Business News Middle East

  • DUBAI, June 24- Iranian hardline media said on Monday the new U.S. sanctions imposed on Tehran were based on "fabricated excuses" while Iranian officials have not responded yet to the hard-hitting limitations on the country. Iran's semi-official Tasnim and Fars news agencies said "America has imposed new sanctions on Iran based on fabricated excuses."

  • President Donald Trump's announcement to impose fresh sanctions on Iran. Spot gold jumped 1.2% to $1,415.51 an ounce by 12:45 p.m. EDT, heading for a fifth straight session of gains. "Gold is holding some sprawling gains from the earlier sessions prompted by slumping dollar and increasing safe haven demand on the back of President Trump threatening to impose...

  • June 24- Gold climbed on Monday as the dollar sagged, with bullion prices hemmed near a six-year high scaled in the previous session as tensions between the United States and Iran fuelled safe-haven buying. Spot gold jumped 0.6% to $1,408.23 an ounce by 10:53 a.m. EDT, heading for a fifth straight session of gains. "It's the strong upside momentum from last week...

  • *To invest in Myanmar oil, LPG terminal. KUALA LUMPUR, June 24- Thailand's largest energy firm PTT Pcl has stepped up investments in the retail and industrial power sectors as a buffer against the impact of a global economic slowdown on its oil refining and chemical businesses, its CEO said on Monday. Asia's oil and petrochemical producers are facing thin profit...

  • DUBLIN, June 24- The International Energy Agency is very concerned about the impact that tensions in the Middle East may have on global energy security and will act if there is any physical disruption to supplies, its executive director said on Monday. Oil prices rose on Monday, extending large gains last week that were prompted by tensions between the United...

  • DUBLIN, June 24- The International Energy Agency is very concerned about the impact that tensions in the Middle East may have on global energy security and will act if there is any physical disruption to supplies, its executive director said on Monday. Oil prices rose on Monday, adding to last week's gains, lifted by tensions between the United States and Iran,...

  • A pump jack operates at a well site leased by Devon Energy Production Co. near Guthrie, Oklahoma.

    Oil prices fell on Monday on concerns about the possibility of weakening demand after large gains last week caused tensions between the United States and Iran.

  • LONDON, June 24- Oil prices rose on Monday adding to last week's gains, lifted by tensions between the United States and Iran, but concerns about the possibility of weakening demand kept a lid on gains. Last week, Brent climbed 5% and U.S. crude surged 10% after Iran shot down a U.S. drone on Thursday in the Gulf, adding to tensions stoked by attacks on oil tankers in the...

  • *Investors doubtful over meaningful U.S.- China deal at summit. *U.S.- Iran tensions puts floor under oil prices. LONDON, June 24- European stocks stumbled and the dollar hit three-month lows on Monday as hopes waned for progress in Sino-U.S. trade talks at this week's G20 meeting and fears of an escalation in Iran tensions flared up.

  • June 24- U.S. stock index futures edged higher on Monday, with investors hoping that the upcoming U.S.- China trade talks will help de-escalate a trade war that is damaging the global economy. The S&P 500 index hit a record high last week, boosted by rising expectations of a cut in interest rates and optimism over a revival in trade talks between the United States...

  • LONDON, June 24- Hedge fund liquidation of petroleum futures and options positions stalled last week as bearishness about the global economy was tempered by fears about a possible disruption of oil exports from the Gulf. Portfolio managers have sold a total of 389 million barrels in the last eight weeks, but last weeks sales were the smallest so far, as tensions...

  • June 24- Gold climbed back towards the previous session's near six-year high on Monday, driven by dovish signals from global central banks and increased tensions between the United States and Iran. Spot gold was up 0.7% at $1,408.65 an ounce by 1120 GMT, heading for a fifth straight session of gains. Tensions between the United States and Iran also supported gold,...

  • June 24- Gold rose above $1,400 on Monday, hovering near a six-year high touched in the previous session, driven by dovish signals from global central banks and increased tensions between the United States and Iran. Spot gold was up 0.6% at $1,406.83 per ounce as of 0959 GMT, heading for a fifth straight session of gains. "The weakness of the U.S. dollar, gold's...

  • NEW DELHI, June 24- A surge in India's oil imports from the United States outpaced growth in shipments from its traditional suppliers in the Middle East, after Washington imposed sanctions on Tehran in November, according to tanker arrival data obtained from sources. In May, the United States ended those exemptions and said countries that continued to buy...

  • Chevron will own a 30% stake in the complex, with the rest owned by Qatar Petroleum, the Qatari energy company's chief executive Saad al-Kaabi told a news conference in Doha. The Saudi Arabian and UAE national oil companies, Saudi Aramco and the Abu Dhabi National Oil Company, have both announced massive plans to boost their refining capacity and petrochemicals...

  • *Investors doubtful over meaningful U.S.- China deal at summit. *Oil rises on U.S.- Iran tensions. LONDON, June 24- European stocks stumbled and the dollar dropped to three-month lows on Monday as hopes waned for progress in Sino-U.S. trade talks at this week's G20 meeting and fears grew of a confrontation with Iran.

  • *Pompeo says "significant" sanctions will be announced on Tehran. LONDON, June 24- Oil prices rose on Monday, extending vast gains last week prompted by tensions between Iran and the United States, as Washington was set to announce new sanctions on Tehran. Oil prices surged after Iran shot down a drone on Thursday that the United States claimed was in international...

  • Foreign tourists in veils seen on a passenger boat with the Iranian flag amass in the waters of the Strait of Hormuz on May 2, 2017 near Hormuz Island, Iran. An oil tanker is seen on the move in the background.

    Tensions between the U.S. and Iran will likely escalate in the near future, a former adviser to the Iranian government said on Monday.

  • US allies have 'mixed appetite' to form international coalition against Iran: economist

    Cailin Birch, global economist at the Economist Intelligence Unit, discusses the international response to intensifying U.S.-Iran tensions.

  • June 24- Gold prices advanced on Monday, hovering near a six-year high touched in the previous session, as dovish signals from major central banks and heightened tensions between the United States and Iran boosted demand for the safe-haven metal. President Donald Trump said on Sunday he was not seeking war with Tehran, but tensions remain high between the...