Oil slides as Saudi price cuts counter Middle East worries
Monday, 8 January 2024 Oil prices fell over 2% due to Saudi Arabia's price cuts and rising OPEC output. Geopolitical tension in the Middle East raised supply concerns. Brent crude slid to $77.02 a barrel, and US West Texas Intermediate crude futures dropped to $72.08. Yemeni Houthis' attacks on ships in the Red Sea increased the risk. Saudi Arabia cut its Arab Light crude price to Asia to the lowest level in 27 months. OPEC oil output rose in December, offsetting cuts by Saudi Arabia and other OPEC+ members.
UN Says Global Food Prices , for Many Staples , Fell in 2023.
On January 5, the U.N. Food and
Agriculture Organization reported that
global prices for some commodities fell
last year from record highs reached in 2022.
ABC reports that the FAO Food Price Index
for 2023 was 13.7% lower than the...
Japanβs SBI and state-controlled energy firm Saudi Aramco announced they will explore a potential collaboration for digital assets and semiconductors. Additionally, SBI said it plans to set up βSBI..
Monday, 8 January 2024
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