Copper futures fell to their lowest level in multiple months, reflecting a combination of macro-economic pressure and demand concerns. Escalating tensions in the Middle East have driven energy prices higher, raising concerns about inflation and a potential drag on global growth, said an expert.
In a major escalation in the Middle East conflict, Iran's huge Pars gas field was hit on Wednesday in the first reported strikes on Iranian energy infrastructure in the Gulf during the US-Israeli war, prompting Tehran to warn its neighbours that their energy installations would be targeted "in the coming hours".
Oil prices rose on Monday as investors weighed renewed geopolitical risk despite US President Donald Trump urging other countries to join efforts to secure the Strait of Hormuz, while Iran said the strategic waterway remained open only to countries that are not directly involved in attacks against it.
The Middle East conflict is causing an energy-led supply chain shock, with very different effects around the world even as market pricing suggests weeks of disruptions, not days or months, said an expert, stating that this episode adds to inflation risk in a world shaped by supply factors.
Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, on Friday announced that its shareholders have confirmed the composition of its new Board of Directors following the company’s Annual General Assembly.
SLB is monitoring the Middle East situation, prioritising employee safety, suspending travel, and demobilising operations. First-quarter revenue is expected lower, with earnings impacted. Despite disruptions, the company remains confident in its global business resilience.
US President Donald Trump has announced plans for what he described as a $300 billion refinery investment in Texas backed by India’s Reliance Industries, calling it the first new oil refinery to be built in the United States in nearly 50 years and a major step toward restoring American energy dominance.
Aramco reported strong 2025 results with adjusted net income of $104.7 billion, including $25.1 billion in Q4. Operating cash flow reached $136.2 billion for the year and $40.8 billion in Q4, with free cash flow of $85.4 billion.
Acwa, the world’s largest private water desalination company, has appointed Dr. Samir J. Serhan as its new Chief Executive Officer. An industry veteran, he brings more than three decades of global leadership experience across large-scale industrial and infrastructure organisations to the new role.
Maintaining its unrivalled position as the world’s lowest-cost hydrocarbon producer, the Kingdom is simultaneously deploying renewables, green hydrogen and carbon capture to power energy its diversification strategy.
