Murban crude has evolved into a major global benchmark, according to Oilprice.com. Its pricing relationship with West Texas Intermediate Crude Oil (WTI) is narrowing, as Murban demand increases amid Middle Eastern supply shifts.
Etihad Airways has launched four inaugural routes to Tunis, Hanoi, Chiang Mai, and Hong Kong within three consecutive days.
Worldwide air cargo tonnages dropped 3% during the October 6 to 12 period over the previous week, mainly due to holidays in China, Taiwan and S. Korea. On the pricing side, a noticeable change was that China air cargo spot rates to the US fell for a second week by 7%.
The Kingdom of Saudi Arabia stands to benefit from the ongoing shifts in global supply chains - from fair trade to a managed and rule-driven trade model - as it can play a vital role as a connector economy linking Africa with Europe and Asia, said its economy minister.
