- Crude Oil (WTI) 91.41 USD/bbl 0.16%
- Crude Oil (Brent) 100.16 USD/bbl 0.94%
- NYMEX Natural Gas 2.93 USD/MMBtu 3.17%
- OPEC Basket Price 111.00 USD/bbl -4.50%
Oil Prices
Oil Prices Drop as Gulf Supply Concerns Ease
Oil prices fell On September 22, with Brent crude declining 1.39% to $98.68 a barrel, while US West Texas Intermediate (WTI) crude dropped 2.05% to $90.20 a barrel. Investors are closely monitoring possible talks between the United States and Iran on the sidelines of the United Nations General Assembly meetings this week.
Valmore Holding
NILEWOOD Strengthens Regional Presence at Saudi Wood Show 2026
NILEWOOD, a subsidiary of Valmore Holding and a manufacturer of medium-density fiberboard (MDF), has expanded its regional presence by participating as an exhibitor at Saudi Wood Show 2026, held in Riyadh from 1 to 3 September. “Saudi Arabia and the wider GCC are important markets within our regional growth strategy, and the exhibition provided us with a valuable platform to engage directly with importers, distributors, manufacturers, and project stakeholders, while gaining deeper insight into their needs and market developments,” said Nashed Adel, CEO of NILEWOOD.
Halliburton
Halliburton Signs MoUs for Developing Energy Sector in Venezuela
Halliburton, one of the leading oil and gas service companies in the US, has signed memoranda of understanding (MOUs) with Brazil’s Eneva and Venezuela’s WESCA to support energy development opportunities in Venezuela.
US
US Proposes $5 Bn Fund to Rebuild Energy Sites Damaged in War
The administration of US President Donald Trump proposed investing $5 billion in a new fund to rebuild energy infrastructure in the Middle East following a war with Iran, Reuters reported citing a report from Wall Street Journal.
Saudi Arabia
Saudi Arabia Increases Gulf Oil Exports Following East-West Pipeline Attack
Saudi Arabia has increased crude oil loadings from its Gulf export terminals after a drone attack disrupted shipments through its East-West Pipeline to the Red Sea, with Saudi Aramco loading about 14 million barrels onto seven very large crude carriers (VLCCs) at Ras Tanura on September 20, according to shipping and satellite-tracking data.
Mineral Resources and Mining Industries Authority (MRMIA)
MRMIA Sets September 22-24 Deadlines for Seven Mineral Blocks
The Mineral Resources and Mining Industries Authority (MRMIA) has announced September 22-24, 2026, as the closing dates for bidding on seven available mineral exploration blocks.
Interview
Fitch Solutions: East‑West Pipeline Halt Puts Brent on Edge
In this exclusive interview, Emma Richards, Associate Director, Oil & Gas Research at BMI, Fitch Solutions outlines the far‑reaching impact of the Saudi East‑West Pipeline shutdown, assessing how the disruption could squeeze the Kingdom’s Red Sea exports and ripple through global oil markets. The discussion highlights the fragility of alternative routes, the immediate price pressures already visible in Brent futures, and the broader geopolitical tensions shaping the outlook.
investment
Egypt Secures $3.55 Mn AfDB Grant for 'Ra' Green Ammonia Project
The African Development Bank Group (AfDB) has approved a $3.55 million grant to support Egypt’s “Ra” green ammonia project in East Port Said. The funding falls under the Bank’s Africa Green Hydrogen Program, which is designed to catalyse private‑sector participation in hydrogen infrastructure and attract foreign direct investment. This comes as part of the $20 million reimbursable grants the bank is providing to support four green hydrogen and derivatives projects in Egypt, Morocco, Namibia and South Africa, according to a statement by African Development Bank Group.
