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The Middle East conflict continues to squeeze global energy supplies as the war drags on, sending ripples of concern across markets worldwide. Against this uncertain backdrop, Saudi Arabia, appears long prepared for a worst-case scenario like this. The kingdom has effectively pressed the “contingency plan” button after the Strait of Hormuz was disrupted following US…
Iran stepped up attacks on energy sites across the Gulf on Thursday, hitting the SAMREF refinery in Saudi Arabia. The facility is a joint venture between Saudi Aramco and ExxonMobil.The attack comes after Iran condemned the earlier strike on South Pars with its president, Masoud Pezeshkian, warning of “uncontrollable consequences” that “could engulf the entire…
Saudi Arabia’s oil company Saudi Aramco, the world’s largest oil exporter, warned on Tuesday that the ongoing Iran war could have “catastrophic consequences” for global oil markets if shipping disruptions in the Strait of Hormuz continued.“There would be catastrophic consequences for the world’s oil markets and the longer the disruption goes on, the more drastic…
Oil prices surged to $120 a barrel before retreating to $102 Monday as Saudi Arabia was reported to be cutting output, adding to the supply squeeze due to disruption in the Strait of Hormuz.Finance ministers of developed G7 nations, who met Monday evening, deferred plans to tap their strategic reserves to cool down the global…
Saudi’s Riyadh Air will launch its first London flights on October 26 using a leased Boeing 787-9 for staff only/ Image: Riyadh Air Saudi Arabia’s newest national airline, Riyadh Air, is preparing for a strategic soft launch of its first international route — daily flights between Riyadh and London Heathrow — beginning October 26, 2025….
