Oil prices steadied after the US Energy Department reported a ninth consecutive weekly drawdown of crude stocks but an overall build in oil inventories.
US West Texas Intermediate crude for September delivery,
Oil prices eased on Tuesday as concerns over a crude and refined fuel glut outweighed an expected cut in US shale production and a probable further draw in US crude inventories.
Crude prices fell more than 1 pe
The apartment and villa prices fell marginally (under one per cent on average) in the prime UAE markets of Dubai and Abu Dhabi with 12-month declines of six per cent and four per cent respectively, said a report.
The average rents
Oil prices rose on Monday following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed.
Brent crude futures were trading at $50
The energy minister of Saudi Arabia, the world's largest oil exporter, and the secretary general of Opec agree that the global oil market is heading toward a balance and that prices are starting to settle, according to comments carried by Sa
Residential property prices in Dubai's rental market plunged 3.6 per cent year-on-year (y-o-y) in May owing to a steep fall in apartment and villa prices compared to the same period last year, said a report.
The Dubai Resident
Oil prices rose above $48 a barrel on Tuesday as investors took advantage of a two-day slide in crude following Britain's vote to leave the European Union to lock in lower prices.
The vote result sent globa
Crude oil prices have so far shown only a modest impact from Britain's vote to leave the European Union on Thursday.
Brent crude futures for the nearest contact to delivery were down by just over $2 per barrel or about 4 per c
Oil prices fell on Tuesday after a strong two-day rally abated amid volatility fed in part by a vote later this week in Britain that will determine whether the country will leave the European Union.
Oil prices fell on Monday, weighed down by gloomy economic prospects in Europe and Asia and a related strengthening in the US dollar, which makes fuel imports for countries using other currencies more expensive.
The softening come